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Growth in digital services a catalyst for promoting financial services for PWDs – BoG

Sat, 23 Oct 2021 Source: 3news.com

Second Deputy Governor of the Bank of Ghana (BoG), Elsie Addo Awadzi, has said that the exponential growth of digital financial services in Ghana is a real catalyst for promoting access to financial services for Persons With Disabilities (PwDs) given its potential to overcome many of the physical barriers that PWDs face in accessing traditional financial services.

She stated that the BoG continues to make strides in providing a supportive policy and regulatory framework that allows banks, other financial institutions, and Fintechs to design and provide innovative digital financial services and products that respond to the unique needs of underserved segments like PWDAs.

"The Bank of Ghana will continue to provide the enabling environment that supports a stable, resilient, and inclusive financial system, where the needs and interest of all consumers are met satisfactorily."

"To further demonstrate our commitment to promoting access to finance for all segments of our society, the Bank of Ghana is in the process of developing a Directive to promote access to finance for PWDAs," she added.

She was speaking during the launch of the German Development Corporation (GIZ) financial inclusion for Persons with Disabilities project in Ghana.

The Project responds to a global imperative to address the lack of access to critical financial services for many PwDs, as part of efforts to ensure more equitable and sustainable socio-economic development paradigms.

Under the project, therefore, GIZ seeks to increase accessibility of digital and analogue financial services for PwDs; strengthen the capacity of banks and other financial institutions to provide more financial services to PwDs; and provide an advocacy and advisory platform for promoting access to finance for PwDs.

Source: 3news.com
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