The Bank of Ghana and the National Bank of Rwanda have taken a significant step toward deepening financial technology cooperation by signing a Memorandum of Understanding (MoU) to introduce a licence passporting framework and cross-border payment interoperability for fintech companies.
The agreement, signed on February 25, 2025, at the Inclusive Fintech Forum in Rwanda, marks a milestone in promoting seamless financial transactions between the two countries. The initiative will enable fintech firms licensed in either Ghana or Rwanda to operate across both markets with minimal regulatory hurdles, fostering innovation and expanding financial services.
Governor of the Bank of Ghana, Dr. Johnson Asiama, described the partnership as a major step toward African financial integration. “This memorandum of understanding reaffirms our commitment to creating an integrated African market that enhances livelihoods, supports fintech innovation, and drives investment. It particularly benefits micro, small, and medium enterprises (MSMEs) by broadening their financial access,” he stated.
Governor of the National Bank of Rwanda, Mr. John Rwangombwa, emphasized the need for a regulatory framework that balances innovation with risk management. “An effective cross-border payment system requires more than just technology—it demands a regulatory structure that mitigates risks while unlocking opportunities,” he noted.
The collaboration is expected to improve efficiency in digital payments, support financial inclusion, and create a more dynamic fintech ecosystem for both countries. Officials from both central banks expressed optimism that this initiative would pave the way for similar agreements across the continent, strengthening Africa’s digital economy.
