US$4.8bn SME financing gap exposes Ghana’s credit challenge — A call for swift implementation of open banking, open finance reforms

Open banking, complemented by a broader open-finance architecture, can help Ghana address one of the fundamental problems behind the SME credit challenge: the information gap between businesses that need finance and financial institutions that must assess risk before providing it. It is tempting to view the US$4.8 billion financing gap purely as a capital shortage. That would be incomplete.