Bank Of Ghana Opens Applications For Its Regulatory Sandbox

The Bank of Ghana (BOG) has publically opened its regulatory sandbox for Banks, Specialised Deposit-Taking Institutions, Payment Service Providers, Non-Bank Financial Institutions, and aspiring FinTech Start-Ups.

The BOG will be accepting its first cohort of participants from 13th February 2023 to 14th March 2023.

The Central Bank’s Regulatory Sandbox is designed to support institutions in innovations in different areas including new digital business models not currently covered explicitly or implicitly under any regulation, and new and immature digital financial service technology.

In a statement, the BOG said its first cohort window will accept innovations from among the priority areas including:

  • Payments
  • Remittances
  • Crowdfunding
  • Micro-lending

Institutions interested can submit a complete application online:

Prospective participants will be informed of the outcome of the application within twenty-one (21) working days after the closure of the application window on 14th March 2023.

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