The Governor of the Bank of Ghana, Dr. Johnson Asiamah, has called for urgent and coordinated regulatory harmonisation across the African continent to unlock the full potential of digital financial integration.

Speaking at the opening of the 2nd edition of the 3i Africa Policy Forum in Accra on 14th May, Dr. Asiamah emphasised that while individual national initiatives have made significant strides, they are not sufficient to achieve the bold vision of a connected, innovative, and inclusive Africa.

Held under the theme: “One Africa, One Market: Driving Innovation, Investment and Impact for a Connected Future,” the forum brought together top policymakers, Central Bank governors, Regulators, Fintech leaders and development partners to chart Africa’s digital future.

Dr. Johnson Asiamah stressed that the continent must “scale our efforts through continental coordination,” urging stakeholders to work towards harmonising regulatory frameworks, fostering interoperability, and building cross-jurisdictional trust.

“No single institution, no matter how well-resourced can drive this transformation alone,” he said.

“To fully realise the vision of One Africa, One Market, we must act together.”

The Governor highlighted ongoing efforts by the Bank of Ghana, including the Pan-African Payment and Settlement System (PAPSS) and bilateral Fintech passporting collaboration with the National Bank of Rwanda, as tangible examples of Africa’s readiness to integrate through trusted partnerships.

In a major announcement, Dr. Asiamah revealed that the Bank of Ghana, the National Bank of Rwanda, and the Global Financial Technology Network of Singapore have launched the Next-Gen Digital Payment Infrastructure Project (DPI).

The initiative, he said, is aimed at modernizing Africa’s cross-border payments ecosystem using a central bank-led, innovation-enabled model that promotes scalability and interoperability.

“This project will serve as a template for scalable payments across the continent, accelerating interoperability and unlocking the full potential of Africa’s digital economy,” Dr. Asiamah noted.

He called on participants to be ambitious and pragmatic, urging them to “move from intention to execution” and commit to building a connected African financial ecosystem by 2030.

“Let us follow the attaining path where vision meets action, where policy enables innovation, and where Africa steps confidently into the role as a digital financial powerhouse,” he stated.

In support of Dr. Asiamah’s remarks, the IMF’s Deputy Director of the African Department, Vitaliy Kramarenko, underscored the importance of digital innovation and trade integration in boosting Africa’s growth and resilience.

He noted that while Sub-Saharan Africa has made commendable progress in mobile money and digital financial access, much more needs to be done, particularly in the areas of electricity access and internet penetration.

“Only half of the population in Sub-Saharan Africa has access to electricity and internet penetration stands at just 33%. We must invest in infrastructure to advance digitalization,” Kramarenko said.

He revealed that the IMF is finalising a comprehensive paper on digital payments innovation in the region, which outlines key policy recommendations and highlights the transformative potential of innovations such as central bank digital currencies and fast payment systems.

“Digital payments can significantly reduce transaction costs, promote financial inclusion, and facilitate cross-border trade,” Kramarenko added.

“We estimate that comprehensive trade integration – combined with digital development—could lift up to 50 million people out of extreme poverty.”

As the forum continues, stakeholders are expected to deliberate on strategies to empower SMEs, attract sustainable investment, and operationalise digital trade protocols that support regulatory convergence and responsible adoption of digital assets across the continent.