The Governor of the Bank of Ghana has urged African nations to build trust-based partnerships that will accelerate financial technology integration across the continent.
Dr. Johnson Pandit Asiama made the appeal during the 3i Africa Policy Forum in Accra, where regional leaders gathered to discuss digital finance solutions under the African Continental Free Trade Area (AfCFTA) framework.
“Fintech innovation presents our clearest path to economic integration,” Dr. Asiama told delegates at the forum themed “One Africa, One Market.” He emphasized how digital financial services could expand access for underserved populations while streamlining cross-border payments to boost intra-African trade. The governor pointed to Ghana’s collaboration with Rwanda and Singapore on payment infrastructure as evidence of progress.
The high-level discussions focused on critical challenges including investment mobilization for fintech startups, regulatory harmonization, and implementation of the Digital Trade Protocol. Participants examined strategies to support small businesses while managing risks associated with digital assets and stablecoins. Dr. Asiama highlighted Ghana’s regulatory sandbox and innovation hub as models for nurturing financial technology development.
A landmark initiative emerged from the forum with the announcement of the Next-Gen Digital Payment Infrastructure project. This central bank-led effort, developed with Rwanda and Singaporean partners, will pilot scalable solutions to modernize cross-border transactions. The program aims to establish technical standards for interoperability, creating building blocks for a continent-wide digital economy.
International Monetary Fund representative Vitaliy Kramarenko reinforced the urgency of digital transformation during his keynote. While celebrating Africa’s global leadership in mobile money adoption, he noted traditional financial access still lags behind other regions. “Our challenge now is transforming mobile penetration into comprehensive financial inclusion,” Kramarenko stated, calling for targeted infrastructure investments and smarter policy frameworks.
The Accra forum represents a strategic step toward operationalizing the AfCFTA’s digital commerce ambitions. With mobile money accounts now exceeding traditional bank accounts in many African nations, policymakers recognize the need to formalize these innovations within regulated financial systems. The discussions underscored how coordinated action on digital identity, payment systems, and fintech regulation could unlock the continent’s economic potential while mitigating risks associated with rapid technological change.
As African nations work to harmonize their digital finance landscapes, the Ghana-Rwanda-Singapore partnership offers a test case for multinational cooperation. Success could establish blueprints for other regions seeking to balance innovation with financial stability in their push for economic integration.
