Vice President Dr. Mahamudu Bawumia has urged for the establishment of a Pan-African payment system and mobile money interoperability to enhance intra-African trade and economic integration.
Addressing the APN Interoperability Symposium in Accra, Dr. Bawumia emphasized the need to address the challenges hindering intra-African trade, including low trade volumes, foreign exchange issues, and inadequate payment infrastructure.
Dr. Bawumia praised Ghana’s mobile money interoperability model, which has achieved significant financial inclusion and growth, and proposed scaling up the model continentally.
He emphasized that mobile money interoperability is a more feasible alternative to a common currency, urging central banks, telcos, and governments to cooperate and prioritize political will to achieve this goal.
The Vice President expressed his commitment to driving continental mobile money interoperability, believing it is achievable and essential for Africa’s economic progress.
The development of a Pan-African payment system and mobile money interoperability could revolutionize trade and financial inclusion across the continent, aligning with the African Union’s vision of enhancing intra-African trade and economic integration.
Source: Oyerepafmonline.com/Bernard K Dadzie
