The Bank of Ghana and the National Bank of Rwanda have signed a Memorandum of Understanding (MoU) to introduce a licence passporting framework and cross-border payment interoperability, a major step toward financial integration between the two nations.
The signing ceremony took place on February 25, 2025, at the Inclusive Fintech Forum in Rwanda, attended by the Governor of the National Bank of Rwanda, Mr. John Rwangombwa, and other key officials from both central banks. The Forum, which ran from February 24 to 26, 2025, provided a platform for discussions on the future of financial technology in Africa.
The licence passporting framework aims to simplify cross-border operations for regulated fintech companies licensed by either Ghana or Rwanda. This initiative will minimize regulatory barriers, allowing fintechs to expand more easily across borders, fostering innovation and economic growth in both countries.
Dr. Johnson Asiama, Governor of the Bank of Ghana, emphasized the MoU’s significance, stating:
“The signing of this memorandum of understanding reaffirms our commitment to the broader idea of an integrated African market, which holds the prospects of enhancing the livelihoods of our citizens and creating opportunities for an environment that encourages fintech innovation and investment, ultimately benefiting our economies, particularly MSMEs.”
Mr. John Rwangombwa, Governor of the National Bank of Rwanda, added:
“We recognize that creating an effective cross-border payment infrastructure requires more than just innovation. It demands a forward-fitting regulatory framework that balances risks and opportunities.”
This agreement marks a step forward in financial cooperation, strengthening the digital payment ecosystem between Ghana and Rwanda. Both countries are optimistic that the MoU will pave the way for greater prosperity and economic development through seamless financial transactions.
