Elsie Addo Awadzi, the Second Deputy Governor of the Bank of Ghana (BoG), has revealed that the Bank of Ghana is in the process of developing a new directive to promote access to finance for Persons With Disabilities (PWDs).

Elsie Addo Awadzi made this known at the launch of the German Development Corporation (GIZ) financial inclusion for Persons with Disabilities project in Ghana under the theme, “Bridging the Financial Access Gap: Inclusion for PWDs”. According to the Deputy Governor, the proposed directive will focus on eliminating barriers that affect access to finance for persons with disabilities (PWDs) in the country.

Elsie Addo Awadzi noted that the rapid growth rate of technology means that there is a corresponding increase in digital usage among banks. This, she said, will help to bridge the gap and promote access to financial services by persons with disability. What it means is that, PWDs can sit at the comfort of their homes and access financial services, she stated.

“The exponential growth of digital financial services in Ghana is a real catalyst for promoting access to financial services for PWDs, given its potential to overcome many of the physical barriers that PWDs face in accessing traditional financial services.”
Elsie Addo Awadzi

The Second Deputy Governor acknowledged the contribution of Bank of Ghana in policy wise to support persons with special needs.

“The Bank of Ghana 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 PWDs.”
Elsie Addo Awadzi

Elsie assured people with disabilities of the Bank of Ghana’s support. She asserted that BoG will continue to provide the right environment for PWDs to thrive.

“The Bank of Ghana will continue to provide the enabling environment that supports a stable, resilient, and inclusive financial system, where the needs and interests of all consumers are met satisfactorily.”
Elsie Addo Awadzi

Conclusively, Elsie Awadzi is hopeful that the project will provide supportive environment for PWDs to fully fit into the environment and to also contribute to the socioeconomic growth of the country.

“It is our hope also that implementation of the project will lead to the building of a viable and supportive ecosystem for PWDs to enable them fully participate in education, the job market, entrepreneurship, health care, financial and other socio-economic activities. So that they are able to make a significant impact in their communities and contribute more fully to our socio-economic development as a nation.”
Elsie Addo Awadzi

The GIZ 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 PWDs project, GIZ seeks to increase accessibility of digital and analogue financial services for PWDs. Moreover, it will also 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.