Africa’s next phase of economic growth will depend heavily on the ability of businesses and consumers to move money seamlessly across borders, with payment interoperability emerging as a critical enabler of trade, financial inclusion, and regional integration under the African Continental Free Trade Area (AfCFTA).
This position was highlighted by Emmanuel Owusu, Chief Technology and Information Officer (CTIO) of Ghana Interbank Payment and Settlement Systems (GhIPSS), during a panel discussion on “The Next Billion – Scaling Fintech Across Africa” at DigitalPayExpo 2026 in Lagos, Nigeria.
According to Owusu, while African countries have made significant progress in developing domestic payment systems, the continent must now focus on achieving “cross-border interoperability” to unlock the full benefits of regional trade and digital commerce.
He pointed to Ghana’s experience in building interoperable payment infrastructure, describing it as a key driver of “faster, more inclusive payments” that has improved access to financial services and enhanced transaction efficiency across the economy.
The GhIPSS CTIO stressed that the success of Africa’s digital payments ecosystem will depend on stronger collaboration among regulators, financial institutions, infrastructure providers, and fintech companies. Such cooperation, he noted, is crucial for scaling interoperable payment systems across multiple jurisdictions and reducing barriers to cross-border transactions.
The discussion comes as African countries intensify efforts to broaden economic integration through the African Continental Free Trade Area (AfCFTA), which seeks to create a single continental market for goods and services. Industry stakeholders view efficient payment systems as a prerequisite for expanding intra-African trade and supporting the growth of digital businesses operating across national borders.
The panel examined opportunities and challenges associated with scaling fintech solutions across the continent, with particular attention to the role of interoperable infrastructure in facilitating secure and efficient movement of funds.
Owusu maintained that Africa’s payments landscape must evolve beyond national systems to enable transactions across borders “as seamlessly as local transfers,” arguing that this would be critical to supporting commerce, innovation, and broader economic development across the continent.
