Central bank governors, senior policymakers, and global financial experts gathered in Accra today for a pivotal seminar on Central Bank Digital Currencies (CBDCs) and digital payments, under the theme “Remittances, Compliance, and Interoperability.” The two-day event, hosted by the Bank of Ghana in collaboration with the International Monetary Fund (IMF), forms part of the Sub-Saharan Africa Central Bank Network on CBDCs and Digital Payments.
Welcoming participants, Governor Dr. Johnson P. Asiama emphasized the significance of transitioning from virtual to in-person collaboration.
“This forum is uniquely positioned to tackle some of the most urgent and complex questions around the digital transformation of our financial systems,” he noted.
The seminar aims to address persistent challenges in Africa’s cross-border payment systems—namely high costs, slow transaction times, limited transparency, and lack of interoperability—issues which continue to affect remittance flows, small business operations, and regulatory oversight across the continent.
“Remittances remain a lifeline for many families, but they are still costly and inefficient,” Dr. Asiama said, stressing the importance of regional coordination and responsible innovation to drive financial inclusion and economic resilience.
Highlighting Ghana’s proactive role, the Governor outlined the country’s leadership in the Pan-African Payment and Settlement System (PAPSS), which now includes 15 central banks, 12 switches, and over 50 commercial banks. PAPSS aims to reduce the continent’s reliance on non-African clearing pathways and to enhance financial sovereignty.
Dr. Asiama also spotlighted two key collaborative initiatives being led by Ghana and Rwanda:
- The FinTech License Passporting Framework – a system designed to harmonize regulations and enable trusted digital firms to operate seamlessly across borders.
- The Africa NextGen Digital Payment Infrastructure (DPI) – an ambitious initiative to design secure, interoperable, and inclusive payment systems tailored to African realities.
The Governor called for greater policy coherence and the adoption of emerging tools such as multi-regulator sandboxes and Supervisory Technologies (SupTech), which can enhance compliance monitoring and enable secure data exchange across borders.
He further urged African stakeholders to take an active role in shaping global digital standards around anti-money laundering (AML), digital identity, and data privacy, ensuring they reflect African contexts rather than external prescriptions.
“But as we talk about systems and standards, let us not lose sight of the real human stories behind these reforms,” Dr. Asiama said.
“The single mother receiving remittances, the young entrepreneur exploring new markets, the regulator balancing innovation and risk—these are the lives we must center in our work,” he added.
The seminar continues tomorrow with technical sessions, case studies, and strategy discussions aimed at deepening cooperation and laying the groundwork for a more inclusive and integrated digital financial future for Africa.
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