BoG rolls out fintech and digital payment reforms to boost intra-African trade

The Bank of Ghana (BoG) has announced a series of regulatory and digital infrastructure reforms aimed at strengthening cross-border payments and promoting inclusive economic growth across Africa.

The Second Deputy Governor of the BoG, Matilda Asante Asiedu, disclosed this at the 2026 Africa Prosperity Dialogue held at the Accra International Conference Centre on Wednesday, February 4.

She said the initiatives are designed to address persistent challenges such as payment interoperability gaps, limited regulatory trust, and consumer protection concerns, which continue to hinder intra-African trade and financial integration.

A key intervention, she noted, is the FinTech Passport, a joint framework between the Bank of Ghana and the Bank of Rwanda that allows for cross-border licensing of fintech companies.

The arrangement, she explained, promotes regulatory cooperation and trust among participating countries and could be expanded across the continent to support seamless cross-border payments and trade.

Mrs Asiedu also highlighted the Bank’s Next Generation Digital Public Infrastructure initiative, which is currently piloting multilateral interoperability frameworks, settlement systems, and potential cross-border currency arrangements.

She said these efforts are intended to build a more integrated, efficient, and resilient payment ecosystem for Africa.

In addition, she pointed to the recently enacted Virtual Asset Service Providers Act as a major regulatory milestone that supports emerging digital payment channels while ensuring robust consumer protection and effective risk oversight.

Mrs Asiedu stressed that payment systems are critical national and continental infrastructure, requiring strong cybersecurity safeguards, coordinated regulation, and trusted governance structures.

She added that the broader goal of the reforms is to advance inclusive growth and ensure that Africa’s digital and financial transformation delivers benefits across all sectors of society.