During the just-ended Singapore Fintech Festival, the Development Bank Ghana (DBG), the Bank of Ghana (BoG) and the Monetary Authority of Singapore executed a Memorandum of Understanding (MOU) to develop the Ghana Integrated Financial Ecosystem (GIFE).
In this regard, Consolidated Bank Ghana (CBG) has become one of the two Banks working directly with DBG and BOG on the Ghana side to make this happen.
Speaking at the signing ceremony in Singapore, the Managing Director of CBG, Mr Daniel Wilson Addo said CBG is an important partner in this collaboration and is poised to play a strategic role in this new initiative.
“We are excited to be part of this initiative as it aligns with our core mandate of promoting local businesses, particularly MSMEs”. There is considerable upside potential for the MSMEs that participate, especially in the export markets.
The GIFE aims to enhance financial capabilities and market access for micro, small and medium enterprises (MSMEs) in Ghana and generate greater opportunities for small businesses.
The 7th edition of the Singapore FinTech Festival 2022, Organized by the Monetary Authority of Singapore (MAS), under the theme ‘Building Resilient Business Models amid Volatility and Change’ attracted participants from more than 110 countries and 2,000 organizations.
Source: Mybrytnewsroom.com/Kwabena Nyarko Abronoma
