Ghana and Rwanda are emerging as continental trailblazers in Africa’s intra-digital payments systems and standards transformation, says the Governor of the Bank of Ghana, Dr. Johnson Asiama.
Dr. Asiama says the central banks of the two Sub-Saharan countries are at the forefront of building scalable, secure, and inclusive payment systems that serve African needs and boost regional financial service expansion.
The Bank of Ghana boss touted these achievements of the two countries when he was speaking at the IMF SSA Central Bank Network Seminar on Central Bank Digital Currency (CBDC) and Digital Payments Seminar in Accra.
The governor touted how both countries are co-leading groundbreaking initiatives that promise to redefine the future of intra-African payments.
“At the Bank of Ghana, our response has been to champion regional cooperation and responsible innovation,” Dr. Asiama stated, adding that “Ghana’s active participation in the Pan-African Payment and Settlement System (PAPSS) reflects our commitment to building scalable infrastructure for intra-African payments.”
PAPSS is a flagship initiative of the African Continental Free Trade Area (AfCFTA) aimed at facilitating real-time, cross-border payments across African countries in local currencies.
He revealed that the system currently includes 15 central banks, 12 switches, and over 50 commercial banks, underscoring the progress being made toward reducing Africa’s dependence on foreign clearing channels.
The two countries, he announced, are co-leading two pioneering projects that further cement their leadership roles in Africa’s fintech and digital payments space.
The FinTech License Passporting Framework
This initiative, spearheaded by Ghana and Rwanda, is designed to harmonize regulatory frameworks across borders. The framework also enables trusted digital financial service providers to operate seamlessly across African markets.
He indicated that the framework “supports regulatory coherence and facilitates cross-border market entry for trusted digital firms.”
The Africa NextGen Digital Payment Infrastructure (DPI)
This project aims to develop a secure, interoperable, and inclusive payment architecture tailored specifically for African use cases. Dr. Asiama remarks that this is an infrastructure that is long overdue in a region where digital financial inclusion is growing but remains fragmented.
The DPI, he indicates, “explores secure, interoperable, and inclusive payment architecture designed for African use cases.
Together, these efforts position Ghana and Rwanda not just as adopters of global fintech trends but as shapers of the next era of African financial integration. Their leadership demonstrates that innovation, inclusion, and sovereignty can go hand-in-hand in designing Africa’s digital economic future.
Digital trade, remittances, and cross-border trade continue to grow under the African Continental Free Trade Area (AfCFTA). Experts and analysts say these initiatives will be critical in strengthening trust, interoperability, and efficiency across African markets.
