Ghana’s Vice President, Jane Naana Opoku-Agyemang, has renewed calls for deeper Africa financial integration, warning that dependence on foreign financial systems continues to undermine trade efficiency and the continent’s single market ambitions.
Speaking at the 3i Africa Summit on May 6, 2026, she noted that many intra-African transactions are still routed through external systems and denominated in third-party currencies.
“In many cases, intra-Africa transactions are still routed through financial systems outside the continent… This adds costs and delays and undermines the very idea of a single African market.” - Ghana’s Vice President
Push for Payment System Reforms
The Vice President stressed the urgency of building interoperable payment systems that allow direct transactions between African economies.
She highlighted progress under the Pan-African Payment and Settlement System, which is helping reduce reliance on foreign intermediaries.
She also pointed to the African Union’s Digital Trade Protocol, adopted in 2024, as a key framework for enabling seamless cross-border transactions through mobile money interoperability and integrated settlement systems.
“The objective is for a Ghanaian enterprise to be able to invoice a Guinean client and receive payment in cedis directly, efficiently, and at a reasonable cost.” - Ghana’s Vice President
Digital Identity as a Foundation
Prof. Opoku-Agyemang emphasised that digital identity systems are essential to unlocking Africa’s digital economy, noting that millions remain excluded from formal financial systems due to lack of reliable identification.
“No digital economy can function without trust, and trust begins with identity,” she said, calling for interoperable systems that can support cross-border participation at scale.
On regulation, she advocated for harmonised but flexible frameworks that enable innovation while reducing business costs. Rather than uniform laws, she encouraged compatible systems supported by regulatory sandboxes and shared standards.
The Vice President concluded that stronger coordination among African countries will be critical to transforming digital integration from aspiration into reality, positioning the continent for more efficient trade and sustained economic growth.
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