Proxtera and DBG partnering together to operationalise the Ghana Integrated Financial Ecosystem (GIFE) | Proxtera

4 November 2022

Proxtera and DBG partnering together to operationalise the Ghana Integrated Financial Ecosystem (GIFE)  


Proxtera is working together with the Bank of Ghana and the Development Bank Ghana, supported by the Monetary Authority of Singapore (MAS) to operationalise the Ghana Integrated Financial Eco-system (GIFE). The ecosystem offers a digital journey for MSMEs, beginning with a financial literacy programme and leading to the creation of trusted credentials, better access to finance, and increased trust in cross-border trade via a Financial Trust Corridor (FTC). The modular nature of this ecosystem allows MSMEs, financial institutions, and business service providers to tap into the various GIFE mechanisms as they expand domestically or scale their business operations internationally. Supported by a regulatory sandbox, GIFE will challenge traditional credit assessment and lending frameworks to fast-track growth and development for local businesses. 

Slated to operationalise in the first half of 2023, GIFE will be a first of its kind initiative to provide true inclusivity to businesses in Ghana and support them in leapfrogging into a digital economy. GIFE will focus on 5 key pillars:

  • Financial empowerment through the SME Financial Empowerment Program (SFE) – A digital literacy program operated by Proxtera and designed to fill recognized gaps for MSMEs. Completion of the program will lead to the generation of certificates which serve as trusted credentials to drive utility value from service providers. (
  • Expanded business opportunities through trade discovery in digital hubs – Accessing global marketplaces through a single integration into the Proxtera network, will give Ghanaian businesses the opportunity to be discovered more easily.
  • Digital Financing and Guarantees – To encourage and increase the velocity of business in Ghana, DBG and its Partner Financial Institutions will provide greater access to finance for SMEs based on specific metrics in GIFE including “Intent to Pay” data.

Trusted credentials will be used as part of the credit application processes.

  • Financial trust building using trusted credentials through select financial institutions in Singapore and Ghana which will utilise data sets across the ‘ability’ & the ‘intent’ to pay. These will be based on frameworks agreed to between the central banks of both countries.
  • Capital and equity growth to further encourage growth of businesses.

 The initial launch of GIFE will include participation by the Consolidated Bank of Ghana (CBG) and ANEXT Bank to provide credit for pilot trades in the Ghana-Singapore corridor

Saurav Bhattacharyya, Chief Executive Officer of Proxtera, said ”Proxtera has been working with DBG for the last 6 months on architecting the FTC data frameworks, as an integral part of GIFE. We are proud to be associated with GIFE as a founding partner and support MSMEs in their digital trade journey. Proxtera is also the exclusive operational partner of the SME Financial Empowerment (SFE) programme since its launch on June 15, and the operational, technology & digital infrastructure provider for implementation for GIFE.  Proxtera works collaboratively with FI’s and local platform partners in Ghana to implement trusted credentials for MSME’s looking to grow their trade – both domestically and cross-border.” 

K Duker, Chief Executive Officer of DBG, said: “We believe that this partnership with the Monetary Authority of Singapore and the GIFE programme marks a pivotal moment in DBG’s mission to provide sustainable finance solutions to Ghanaian businesses and facilitate multi-generational, sustainable economic growth. DBG recognises the crucial role of SMEs in our country’s economy and the GIFE programme will further strengthen DBG’s ability to catalyse SME growth by ensuring that they get the financial solutions they need to achieve their full potential. SMEs are a key pillar of Ghana’s economic resilience, prosperity, and international competition, so I’m optimistic that our journey to unlock their potential will yield excellent results for our people and country.”

About Proxtera


Proxtera is an open and neutral hub connecting B2B marketplaces, service  providers, and trade associations digitally to simplify and amplify trade for small  and medium enterprises (SMEs). Proxtera’s mission is to transform Business to  Business trade using technology to make marketplaces efficient and discoverable  globally, to enable holistic crossborder trade through services for financing and  fulfillment, empowerment, and financial trust building. Proxtera was launched in 2020 as the commercialization of the Business sans  Borders (BSB) initiative by MAS and the Infocomm Media Development Authority  (IMDA). BSB seeks to develop a global digital infrastructure that would help to  increase cross-border trade opportunities and enhance digital and financial  inclusivity for SMEs in the underserved global B2B e-commerce market space. Find out more at or email us at

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Marketing & Communications



DBG is a Development Finance Institution. In 2020, the bank received its license to operate from its regulator, the Bank of Ghana.  

DBG’s mission is to:  

  • Foster strong partnerships to finance economic growth, create jobs and build capacity for SMEs
  • Provide long-term financing and de-risking services, underpinned by technology and evidence-based research/insights
  • Attract, develop and retain exceptional people
  • Operate as an independent, financially sustainable world-class institution
  • Promote ESG excellence within the businesses we support

The Bank has received funds from the World Bank, European Investment Bank, Kreditanstalt Für Wiederaufbau (KfW) and the African Development Bank. DBG is a signatory to the UN Global Compact.

For media enquiries, please contact:

Sheba Safo-Adu 

Communications and Investor Relations


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