Ghana is engaging more than 10 African countries to connect their digital payment systems, as it seeks to reduce cross-border transaction costs and make payments across the continent faster and more affordable.
Bank of Ghana Governor Johnson Pandit Asiama disclosed this at a high-level event on digital payment innovation in sub-Saharan Africa held during the International Monetary Fund and World Bank Annual Meetings in Bangkok, Thailand.
He said the discussions build on existing pilot programmes with Nigeria and Rwanda to test interoperability between different digital payment systems.
The pilots cover transactions involving central bank digital currencies, stablecoins, bank accounts and mobile money wallets, reflecting efforts to enable different forms of digital money and payment channels to work together across national borders.
According to Asiama, the next step is to move the initiatives with Nigeria and Rwanda beyond testing into live services that individuals and businesses can use for cross-border transactions.
He said the move towards interoperable payment systems could help address the high cost of transferring money across Africa, where cross-border payment charges exceed eight per cent, compared with the three per cent target.
Ghana has also extended the Pan-African Payment and Settlement System (PAPSS) to mobile wallets along the Ghana-Nigeria corridor, widening access to cross-border payment services.
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PAPSS, developed by the African Export-Import Bank, enables payments between African countries in local currencies and is designed to support trade under the African Continental Free Trade Area (AfCFTA).
The system aims to reduce the need for businesses to convert local currencies into third-party currencies when conducting transactions within Africa.
Greater interoperability could help traders, businesses and individuals move money between different banking and mobile payment platforms without navigating multiple systems or incurring excessive transaction charges.
Ghana is also positioning itself as a regional hub for digital payment interoperability and financial services regulation. One aspect of the plan is regulatory passporting, which would allow payment providers licensed in one country to obtain recognition to operate in other participating jurisdictions under agreed regulatory arrangements.
The initiative could make it easier for financial technology companies to expand across African markets while enabling regulators to coordinate oversight of cross-border payment services.
Asiama previously outlined Ghana’s plans to develop next-generation digital public infrastructure for Africa at the African Prosperity Dialogue in February. The initiative is intended to test multilateral interoperability frameworks, settlement models and potential arrangements for cross-border digital currencies.
The Bank of Ghana’s 2025 annual report also highlighted the importance of connecting payment systems across the continent, referencing the pilots with Nigeria and Rwanda and efforts to develop currency exchange and regulatory frameworks.
Ghana’s digital payment strategy builds on its existing digital identity infrastructure, particularly the Ghana Card, which has been issued to more than 20 million people and is used for identity verification across public and private services.
Linking digital identity systems with payment infrastructure could strengthen customer verification and support the delivery of digital financial services across borders, subject to applicable data protection and regulatory requirements.
Other African regions are pursuing similar initiatives. The Bank of Central African States is developing infrastructure to improve payment interoperability across the Central African Economic and Monetary Community.
However, expanding cross-border payment services will require participating countries to agree on technical standards, settlement procedures, licensing requirements and safeguards for customer information.
Ghana’s immediate priority is to turn its existing pilots and ongoing discussions into operational services that enable individuals and businesses to make payments across African borders more efficiently.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
