New trade patterns are emerging with a focus on micro, small and medium enterprises (MSMEs). The Monetary Authority of Singapore, Bank of Ghana and Development Bank Ghana are working together to develop the Ghana Integrated Financial Ecosystem (GIFE).
So what?
According to a joint statement by the three banks, GIFE “aims to enhance financial capabilities and access for MSMEs in Ghana and generate greater opportunities for cooperation in trade and financial services between Singapore and Ghana. Over time, “it is envisaged that the integrated financial ecosystem model can serve the Asia-Africa SME trade corridor more broadly.”
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