The Bank of Ghana is pushing for stronger cross-border interoperability and inclusive instant payment systems as part of efforts to deepen Africa’s digital economic integration.

Addressing participants at the 3i Africa Summit 2026, the First Deputy Governor of the Central Bank, Dr Zakari Mumuni, said Africa’s payment ecosystem remains too fragmented to support the continent’s digital ambitions.

He warned that while mobile money, fintech innovation and agency banking have improved financial access over the years, the absence of seamless interoperability continues to limit economic participation.

“Until we resolve this, the promise of a fully integrated digital economy will remain unrealized,” he said.

Dr Mumuni stressed that instant payment systems can help transform Africa’s economies by reducing transaction costs, speeding up business cash cycles and improving financial access for underserved populations.

He said governments also stand to benefit through improved transparency, efficient public payments and better revenue mobilisation.

The BoG official, however, noted that no African instant payment system has yet achieved full inclusivity at scale, describing it as a major challenge policymakers must address urgently.

“What is required now is coordinated execution across the ecosystem. Regulators, payment system operators, financial institutions, and fintechs must work in concert to build interoperable systems that eliminate friction and expand reach,” he stated.

Dr Mumuni further called for reforms including harmonised eKYC frameworks, aligned licensing regimes and deeper cooperation among African countries to support interoperable cross-border payment systems.

He highlighted Ghana’s progress in deploying multiple instant payment platforms and improving interoperability, but insisted that accessibility, affordability and trust must remain central to future payment infrastructure.

“The path is clear, the technology is available, and the benefits are substantial. What is needed now is commitment and execution,” he said.

The 3i Africa Summit brings together regulators, central banks, fintechs and financial institutions to discuss innovation, investment and integration within Africa’s financial ecosystem.