Ghana is positioned to release the potential of SMEs – Dr Opoku-Afari

First Deoputy Governor of the Bank of Ghana Dr Maxwell Opoku-Afari has noted that the critical role of Small and Medium Scale Enterprises (SMEs) in the Ghanaian economy is incontrovertible and the need to support them to contribute meaningfully to the national development agenda has been unanimously established at this forum.

With a stack of foundational infrastructure currently in place, he said Ghana is positioned, with the active collaboration of Singapore,
to release the potential of SMEs through the Business sans Borders project. Of course, this can only be successful with the active
support of all stakeholders. Your commitment to the project has been proclaimed loud and clear at this forum. I therefore have
no doubt that we are together in this endeavor.

Delivering the closing remarks at a stakeholder forum on Business Sans Borders (BSB) in Accra on Wednesday August 18, he said to the Bank of Ghana, the Business Sans Borders, through the Financial Trust Corridor is a game changer in our efforts to drive
financial sector activity and inclusive SME development under the regulatory watch of the central bank.

“To the commercial banks and FinTechs, there is a clear opportunity for rapid growth with new clients, and to leverage
data for innovation as the project also offers a Sandbox environment to accelerate testing and delivery of new services
for SME.

“For traders both in Ghana and Singapore, BSB enables one-stop meta-hub to source for trade and services online whiles
Streamlining access to better domestic and cross-border business opportunities.

“To the larger Government of Ghana, the project offers an effective platform towards deepening trade and bilateral cooperation between the Republic of Ghana and Singapore in the scale that has never been seen.

“Clearly, this is a win-win project. And now that we are fully aware of the potential benefits of the project, the real work begins. It is
now time to roll up our sleeves and work towards implementation of the various components of the project.

“Let me assure you that the Bank of Ghana will be informed by stakeholders contributions provided at this meeting and thereafter, in the preparatory and implementation activities.”

Source: 3news