{"id":65735,"date":"2024-01-31T08:10:53","date_gmt":"2024-01-31T08:10:53","guid":{"rendered":"https:\/\/www.africa-press.net\/ghana\/uncategorized\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges"},"modified":"2024-01-31T08:55:55","modified_gmt":"2024-01-31T08:55:55","slug":"leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges","title":{"rendered":"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges"},"content":{"rendered":"

Africa-Press – Ghana. <\/strong><\/span>Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to leverage the expertise of the large technologically savvy, and youthful population on the continent for a successful intra-African payment system.<\/b><\/p>\n

Speaking on the topic of \u2018Scaling up Mobile Interoperability to Deepen Financial Inclusion and Intra-African Trade\u2019 at the 2024 edition of the African Prosperity Dialogue, the governor of the central bank said scaling up mobile interoperability across the continent calls for a review of legacy payment infrastructures, better policy coordination among member countries, effective public-private and joint international collaborations that leverage new technologies such as cloud-based infrastructure, distributed ledger technology (DLT), and regulatory sandbox initiatives.<\/p>\n

\u201cThe way forward is for African countries to leverage on the large technologically savvy and youthful population in shaping the future of payments to drive financial inclusion, intra-trade activities, and promote economic growth overall,\u201d he stated.<\/p>\n

\u201cThese developments present an opportunity to transform the continent\u2019s payment landscape in a way that removes barriers for cheaper and more convenient cross-border transfers, as well as reduced settlement times. While this is almost a unanimous consensus belief, the challenge has been to decide on the best approach to achieving such a feat,\u201d Dr. Addison added.<\/p>\n

He noted that while the Pan-African Payment and Settlement System (PAPSS) was designed to facilitate safe, effective, and interoperable financial transactions across African borders, the biggest barrier is that only a small number of African nations have attained full interoperability, which restricts the potential to fully realise the benefits associated with scaling mobile money interoperability.<\/p>\n

\u201cThis brings up pertinent legacy challenges that need to be addressed in this direction; prominent among which are inadequate payment infrastructure and inconsistent compliance, status of the regulatory frameworks, policy coordination, user education and security, and fraud concerns,\u201d said the Bank of Ghana boss.<\/p>\n

Dr. Addison further touched on some of the challenges that impede the success of attaining intra-African trade and payment systems.<\/p>\n

\u201cFew initiatives toward fostering mobile money interoperability at the intra-Africa level have been attempted in the past. However, lack of a collaborative approach and divergence in the developmental levels of national payment systems across Africa\u2014notably lack of regulatory frameworks\u2019 harmonisation in the payment systems, including the payments service provider (PSP) licencing requirements, know your client\/customer due diligence frameworks, financial and consumer protection provisions, financial dispute resolution processes, foreign exchange access and reporting regimes, data protection, and cross-border sharing\u2014have led to untimely failures. Hence, overcoming these roadblocks requires concerted efforts,\u201d said Dr. Addison.<\/p>\n

In keeping with the African Free Continental Trade Area (AfCFTA), he pointed out that mobile money interoperability continues to be a crucial component of the payment market infrastructure that can increase cross-border payments on the continent.<\/p>\n

In order to solve the unique problems facing the region, the governor further urged all parties involved to work together to create an ecosystem that supports interoperability.<\/p>\n

For More News And Analysis About Ghana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Ghana. Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to leverage the expertise of the large technologically savvy, and youthful population on the continent for a successful intra-African payment system. Speaking on the topic of \u2018Scaling up Mobile Interoperability to Deepen Financial Inclusion […]<\/p>\n","protected":false},"author":84,"featured_media":65734,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[5092,5096,429],"class_list":["post-65735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-ghana","tag-ghana"],"yoast_head":"\nLeverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges - Ghana<\/title>\n<meta name=\"description\" content=\"Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to l ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges\" \/>\n<meta property=\"og:description\" content=\"Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to l ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges\" \/>\n<meta property=\"og:site_name\" content=\"Ghana\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-31T08:10:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-31T08:55:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges\",\"datePublished\":\"2024-01-31T08:10:53+00:00\",\"dateModified\":\"2024-01-31T08:55:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges\"},\"wordCount\":507,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Ghana\",\"ghana\"],\"articleSection\":[\"all news\",\"Economy\",\"head lines\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges\",\"name\":\"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges - Ghana\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg\",\"datePublished\":\"2024-01-31T08:10:53+00:00\",\"dateModified\":\"2024-01-31T08:55:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"description\":\"Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to l ...\",\"breadcrumb\":{\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage\",\"url\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg\",\"contentUrl\":\"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.africa-press.net\/ghana\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#website\",\"url\":\"https:\/\/www.africa-press.net\/ghana\/\",\"name\":\"Ghana\",\"description\":\"Just another Africa News Agency Sites site\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\",\"name\":\"cfeditoren\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g\",\"caption\":\"cfeditoren\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges - Ghana","description":"Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to l ...","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges","og_locale":"en_US","og_type":"article","og_title":"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges","og_description":"Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to l ...","og_url":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges","og_site_name":"Ghana","article_publisher":"https:\/\/www.facebook.com\/AfricaPressTunisiaa","article_published_time":"2024-01-31T08:10:53+00:00","article_modified_time":"2024-01-31T08:55:55+00:00","og_image":[{"width":1280,"height":720,"url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg","type":"image\/jpeg"}],"author":"cfeditoren","twitter_card":"summary_large_image","twitter_misc":{"Written by":"cfeditoren","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#article","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges"},"author":{"name":"cfeditoren","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"headline":"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges","datePublished":"2024-01-31T08:10:53+00:00","dateModified":"2024-01-31T08:55:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges"},"wordCount":507,"commentCount":0,"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg","keywords":["Africa Press","Africa Press-Ghana","ghana"],"articleSection":["all news","Economy","head lines"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges","url":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges","name":"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges - Ghana","isPartOf":{"@id":"https:\/\/www.africa-press.net\/ghana\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage"},"image":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage"},"thumbnailUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg","datePublished":"2024-01-31T08:10:53+00:00","dateModified":"2024-01-31T08:55:55+00:00","author":{"@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb"},"description":"Governor of the Bank of Ghana, Dr. Ernest Addison, has called on the African investor community and stakeholders to l ...","breadcrumb":{"@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#primaryimage","url":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg","contentUrl":"https:\/\/static.africa-press.net\/ghana\/sites\/18\/2024\/01\/sm_1706678423.641737.jpg","width":1280,"height":720,"caption":"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges"},{"@type":"BreadcrumbList","@id":"https:\/\/www.africa-press.net\/ghana\/all-news\/leverage-africas-tech-savvy-and-youthful-population-to-overcome-payment-interoperability-challenges#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.africa-press.net\/ghana\/"},{"@type":"ListItem","position":2,"name":"Leverage Africa\u2019s tech-savvy and youthful population to overcome payment interoperability challenges"}]},{"@type":"WebSite","@id":"https:\/\/www.africa-press.net\/ghana\/#website","url":"https:\/\/www.africa-press.net\/ghana\/","name":"Ghana","description":"Just another Africa News Agency Sites site","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.africa-press.net\/ghana\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb","name":"cfeditoren","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.africa-press.net\/ghana\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/7417380fa9e23b5c57fdbfdaf3fdf92ee478f759a084addda5faa3732853e74a?s=96&d=mm&r=g","caption":"cfeditoren"}}]}},"_links":{"self":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/65735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/users\/84"}],"replies":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/comments?post=65735"}],"version-history":[{"count":0,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/posts\/65735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media\/65734"}],"wp:attachment":[{"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/media?parent=65735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/categories?post=65735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.africa-press.net\/ghana\/wp-json\/wp\/v2\/tags?post=65735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}