The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has announced that recent data indicates the economy is recovering.
Speaking at the SME Growth and Opportunity Summit in Accra, Dr. Addison stated that the exchange rate has stabilized, and the country’s Gross International Reserves have improved significantly.
“The exchange rate has begun to stabilize, and our Gross International Reserves have increased to US$6.59 billion, representing 3.0 months of import cover,” he said.
Dr. Addison assured that the BoG will continue to support Small and Medium-sized Enterprises (SMEs) through strategic mechanisms and financial development programs.
He urged industry stakeholders to invest heavily in the sector to increase the country’s export.
The Bank of Ghana Governor also announced a study in collaboration with the Development Bank of Ghana and the University of Ghana Business School to understand the constraints of SMEs and develop targeted policies for growth.
The BoG will provide financial and digital literacy training, as well as trusted digital credentials, to enhance SMEs’ access to financial services and cross-border trade connectivity.
