The Governor of the Bank of Ghana, Dr. Johnson Pandit Asiamah, has issued a clarion call for continental coordination and regulatory convergence to realise the transformative vision of “One Africa, One Market.”
Speaking at the opening of the 3i Africa Summit – Policy Forum under the theme “One Africa, One Market: Driving Innovation, Investment, and Impact for a Connected Future”, Dr. Asiamah emphasized the urgent need for a united front to drive Africa’s digital financial evolution.
“To fully realise the vision of One Africa, One Market, we must scale our efforts through continental coordination,” he stated. “This means harmonising regulatory frameworks, fostering interoperability across financial infrastructures, and building trust and transparency across jurisdictions. No single institution—no matter how well-resourced—can drive this transformation alone.”
Fintech gains encouraging, but insufficient
Across Africa, progress is undeniable. Fintech innovations are bridging access gaps, especially for underserved and remote communities. Cross-border digital payments are gaining momentum, easing trade barriers and accelerating regional commerce.
Regulatory sandboxes, digital innovation hubs, and pilot programs are offering safe, adaptive environments to test financial technologies grounded in Africa’s realities.
Yet, Dr. Asiamah was clear: national efforts alone won’t suffice.
Charting a Continental Roadmap
The Governor stressed that the Policy Forum presented a unique opportunity to align strategic priorities, identifying six key levers to drive Africa’s digital financial integration: Attracting sustainable investment into fintech and digital infrastructure., harmonising regulatory regimes to enable cross-border payment systems, empowering SMEs as engines of innovation and regional trade, operationalising the Digital Trade Protocol to foster regulatory convergence.
Others are promoting responsible adoption of digital assets, including stablecoins and unlocking investor capital through structured de-risking frameworks.
These steps, he noted, must move from dialogue to deliverables—from lofty intentions to clear execution.
“Let us focus not only on what is possible, but on what is essential,” he urged. “Let’s commit to building a connected African financial ecosystem by 2030.”
A region ripe for transformation
Africa’s digital opportunity is immense—but underutilized. According to the GSMA, over 600 million Africans use mobile phones, yet only 34% are financially included via digital platforms. That gap, Dr. Asiamah noted, must be closed.
He called on participants to be ambitious, pragmatic, and united:
“Let this Forum be a turning point—where vision meets action, where policy enables innovation, and where Africa steps confidently into its role as a digital financial powerhouse.”
Bank of Ghana’s Commitment to Regional Integration
The Bank of Ghana, he reiterated, remains firmly committed to the integration agenda. He cited ongoing partnerships such as: Pan-African Payment and Settlement System (PAPSS), Fintech passporting collaboration with the National Bank of Rwanda, Next-Gen Digital Payment Infrastructure Project (DPI)—a trilateral initiative with the National Bank of Rwanda and the Global Financial Technology Network (Singapore)
The DPI project aims to modernize Africa’s cross-border payments ecosystem through central bank-led, innovation-enabled approaches co-developed with fintechs and financial institutions. These pilots are expected to become scalable templates that drive continent-wide interoperability and inclusive growth.
From Intention to Impact
The 3i Africa Summit has set the stage for something greater: a unified push to redefine Africa’s financial future.
As Dr. Asiamah put it, “This is not just about finance—it’s about prosperity. About a continent that believes in itself, works together, and builds forward, together.”
Credit: INVESTMENTTIMESONLINE.COM
