Ghana, Rwanda sign cross-border payment interoperability MoU

The Bank of Ghana (BoG) and the National Bank of Rwanda have signed a Memorandum of Understanding (MoU) to establish a pioneering licence passporting framework and cross-border payment interoperability for regulated financial technology (fintech) companies.
This historic agreement between the two central banks was officially announced by BoG’s Communications Department on Wednesday, February 26, 2025.
According to the release, the signing ceremony took place on February 25, 2025, at the Inclusive Fintech Forum in Rwanda, with the Governor of the National Bank of Rwanda, Mr. John Rwangombwa, and key officials from both financial institutions in attendance.
The Forum, which ran from February 24 to 26, 2025, provided a platform for stakeholders to discuss innovations in fintech and financial inclusion.

Facilitating cross-border operations for fintechs
The licence passporting framework is designed to ease cross-border operations for regulated fintechs licensed by either country’s central bank.
According to the Bank of Ghana’s statement, “This initiative will enable regulated fintechs in Ghana and Rwanda to expand their services with minimal additional regulatory requirements, thereby promoting innovation and growth in the financial technology sector of both countries.”
This framework is expected to provide Fintechs with new opportunities to scale their businesses beyond their home countries, fostering a seamless digital financial ecosystem and strengthening economic collaboration between Ghana and Rwanda.

Leaders highlight significance of agreement
The Governor of the Bank of Ghana, Dr. Johnson Asiama, emphasized the importance of the agreement at the Forum, 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 creates opportunities for an environment that encourages fintech innovation and investment, ultimately benefiting our economies, particularly MSMEs.”
On his part, Mr. John Rwangombwa, Governor of the National Bank of Rwanda, noted the crucial role of regulation in ensuring effective cross-border payments.
“We recognise 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,” he stated.

Enhancing Fintech innovation and economic growth
Both Ghana and Rwanda are optimistic that this collaboration will spur greater innovation, improve financial inclusion, and create economic opportunities within the payment ecosystem.
By aligning regulatory standards and enabling fintechs to operate seamlessly across borders, the partnership is set to drive digital transformation and financial sector growth in both countries.
As the financial technology landscape continues to evolve, this MoU stands as a significant milestone in fostering deeper economic ties between Ghana and Rwanda while enhancing the digital payments ecosystem across Africa.