The Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu, has revealed that the Central Bank is working on a new receivable discounting framework that will enable Small and Medium Enterprises (SMEs) to unlock short-term working capital using unpaid invoices.
The initiative, according to her, is aimed at easing liquidity constraints for most of the small businesses in the country.
The Second Deputy Governor stated that these initiatives, together with the Bank of Ghana’s digital credit services, are aimed at “easing liquidity constraints, especially for women-led enterprises that often face barriers in accessing traditional finance”.
“By enabling more flexible and accessible financing models, we can help women scale sustainably and build resilience,” She added.
The Second Deputy Governor of the Bank of Ghana disclosed this at the Standard Chartered Bank and Ashesi University Ghana climate Innovation Center Programme.
This was an induction ceremony of the 5th Cohort Of the Future makers Women in Tech Incumbator programme.
Technology and Financial Intermediation
The second deputy Governor of the Bank of Ghana was also quick to add that recent data from the World Bank has showed that SMEs that embrace digital technologies grow revenue up to 30%, faster than those that don’t.
“The is why the Bank of Ghana is working hard to improve the regulatory environment for these payments to support a lot of SME’s in Ghana.”
She mentioned that digital payments reduce leakages, build credit histories and connect entrepreneurs to formal financial systems.
The Second Deputy Governor argued that “The good news is that in Ghana, we are well positioned in the digital evolution, that is why with 24.2 million active mobile money accounts, we have seen rising fintech penetration“.
Madam Asante-Aseidu also highlighted the strong regulatory oversight that have helped laid the foundation for a thriving digital ecosystem.
“That is why institutions like Ghana Interbank payment and settlement system have enhanced payment interoperability”, she added.
Madam Asante Asiedu also expressed concerns despite the recent Bank of Ghana data showing widespread ownership of digital accounts, active usage for services like savings, credit and insurance that remains relatively low among women and low-income earners.
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