BoG, DBG sign MoU to commission study on Innovative Financing for MSMEs in Ghana [Video]

The Bank of Ghana has signed a Memorandum of Understanding (MoU) with the Development Bank Ghana (DBG) to commission a study on “Innovative Financing for Micro, Small and Medium Enterprises (MSMEs) in Ghana”.

According to the Central Bank, credit is critical for every economy, particularly developing economies such as Ghana, since both theory and empirical literature point to the nexus between credit and economic growth.

Speaking at the ceremony, First Deputy Governor, Dr. Maxwell Opoku-Afari, said though price stability remains the Central Bank’s primary mandate under the inflation targeting framework, economic growth through credit expansion is also of key concern, a reason why a major consideration is given to the impact of policies on the real sector.

For instance, he explained that much of the reforms that have been initiated within the banking sector in particular, have been geared towards creating sound, stable, well-capitalised and profitable institutions capable of supporting …