Accra: Dr. Johnson Pandit Asiama, the Governor of the Bank of Ghana, has called for collaboration in the promotion of fintech and digital initiatives to enhance Africa’s integration. He emphasized that fintech is bridging access gaps, particularly for underserved and remote communities, and highlighted the increasing traction of cross-border digital payments, which promise to ease trade frictions and accelerate regional commerce.
According to Ghana News Agency, Dr. Asiama made these remarks at the 3i Africa Policy Forum, centered on the theme: ‘One Africa, One Market: Driving Innovation, Investment, and Impact for a Connected Future.’ The forum aimed to build shared momentum and address key levers for Africa’s digital financial integration, such as attracting sustainable investment into fintech and digital finance, aligning regulatory approaches to unlock cross-border payments, and empowering SMEs as drivers of regional trade and innovation.
The event also focused on operationalizing the Digital Trade Protocol for regulatory convergence, ensuring responsible adoption of stablecoins and digital assets, and unlocking investor capital through strategic de-risking frameworks. Leaders from policy, regulation, finance, and technology sectors, who are pivotal in shaping Africa’s digital transformation, attended the forum.
Dr. Asiama emphasized that the forum’s purpose was not merely to reflect on the outcomes of the previous year’s Summit but to translate them into executable strategies. He highlighted the importance of implementing scalable fintech, digital assets, and cross-border payment solutions to deepen financial inclusion and intra-African trade in line with the AfCFTA.
He noted that regulatory sandboxes and innovation hubs were providing safe environments to test new technologies within African contexts. Modern regulatory approaches, pilot programs, innovation offices, and digital public infrastructure frameworks are reinforcing these advances to promote inclusive finance, enhance SME participation, and unleash the creativity of Africa’s youth and entrepreneurs.
The Governor reaffirmed the Bank’s commitment to the agenda, citing collaborations like the Pan-African Payment and Settlement System (PAPSS) and a bilateral fintech passporting initiative with the National Bank of Rwanda, which underscore the belief in achieving regional integration through trust-based partnerships.
Dr. Asiama also announced collaboration with the National Bank of Rwanda and the Global Financial Technology Network (Singapore) on the Next-Gen Digital Payment Infrastructure Project (DPI). This initiative aims to modernize Africa’s cross-border payments ecosystem through a central bank-led, innovative-enabled approach, co-developed with fintechs and financial institutions, supporting scalable pilots that can serve as templates across the continent.
In a keynote address, Mr. Vitaliy Kramarenko, African Department Deputy Director at the IMF, urged policymakers to focus on developing supporting infrastructure, digital finance innovation, and regional trade facilitation. He emphasized the need for creative solutions, including private-public partnerships, to advance digital infrastructure development.
Despite significant progress in mobile penetration, with cellular subscriptions rapidly increasing since 2000, reaching about 80 subscriptions per 100 people in sub-Saharan Africa, Mr. Kramarenko noted that more work is needed. He pointed out that while the region lags in traditional access to finance, it leads in mobile financial access, such as the use of mobile money accounts.
Mr. Kramarenko urged governments to provide essential payment infrastructure and sound policy frameworks to mitigate risks, build resilience, and harness the benefits of digital payments.