Accra, Ghana – Dr. Johnson Pandit Asiama, Governor of the Bank of Ghana (BoG), has advocated for the integration of payment and settlement systems across Africa. Speaking at the ACI Financial Markets World Congress in Accra, Dr. Asiama highlighted the urgent need for these systems to facilitate intra-African trade, enhance financial inclusion, and accelerate economic development on the continent.
Fragmented Systems Hinder Trade
Despite progress in regional trade agreements like the African Continental Free Trade Area (AfCFTA), Dr. Asiama pointed out a significant hurdle: the fragmented nature of payment and settlement systems. This fragmentation makes cross-border transactions within Africa both expensive and inefficient.
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