Ghana Tests Cross-Border Digital Payments With Rwanda and Nigeria
Ghana Tests Cross-Border Digital Payments With Rwanda and Nigeria
The Bank of Ghana is piloting cross-border payment systems using central bank digital currencies, stablecoins, bank accounts, and mobile wallets to make transactions between African countries more efficient, Governor Dr. Johnson Pandit Asiama said, as quoted by local media.
Key details:
Coverage: The initiative covers the Ghana-Rwanda and Ghana-Nigeria corridors, with the Pan-African Payment and Settlement System (PAPSS) extended to mobile wallets along the Ghana-Nigeria route.
The plan: The main objective is "to move these pilots to live services, building on existing infrastructure such as PAPSS rather than creating new systems," Asiama said at the IMF-World Bank Annual Meetings in Bangkok.
Inclusion gap: Increased access to financial services must translate into meaningful financial inclusion, the governor stressed, noting that while 81% of Ghanaian adults have access, only 52.7% are financially included when actual usage and service quality are considered.
Subscribe to @sputnik_africa
