The Second Deputy Governor of the Bank of Ghana, Matilda Asante-Asiedu, has announced that the Central Bank is developing a new early payment scheme aimed at helping Small and Medium Enterprises (SMEs) access short-term financing using their outstanding invoices.

Speaking at the Climate Innovation Centre Programme—organised by Standard Chartered Bank in partnership with Ashesi University—Asante-Asiedu said the initiative is part of a broader strategy to ease cash flow constraints for SMEs, many of which struggle to access funding through conventional means.

She explained that the new framework, in addition to the Bank’s existing digital credit services, will prioritise support for women-led businesses, which are often disproportionately affected by financing challenges.

Citing World Bank data, the Deputy Governor noted that SMEs that adopt digital tools tend to grow their revenues up to 30% faster. To help more businesses benefit, the Bank of Ghana is working to enhance regulations governing digital payments and financial services.

“This is why the Bank of Ghana is working hard to improve the regulatory environment for digital payments to support a lot of SMEs in Ghana,” she stated.

Despite a recent increase in digital account ownership, Asante-Asiedu raised concerns about low usage rates—particularly for savings, credit, and insurance products—among women and low-income earners.

She stressed the need for targeted efforts to close this usage gap and ensure that digital financial services reach underserved populations.