Executive
Chairman
and
Founder
of
the
Africa
Prosperity
Network
(APN),
Gabby
Asare
Otchere-Darko
has
made
a
compelling
argument
about
the
prospect
of
the
continent
achieving
financial
interoperability
in
the
shortest
possible
time.
This
economic
integration
he
says
is
possible
if
African
leaders
are
politically
committed
to
aligning
efforts
and
resources.
In
his
welcome
address
at
the
Continental
Mobile
Interoperability
Symposium
in
Accra
on
Friday,
July
5,
2024,
at
the
Labadi
Beach
Hotel,
Mr
Otchere-Darko
said
achieving
financial
interoperability
is
not
merely
a
technical
and
capacity
hurdle.
“Imagine
what
it
will
mean
for
a
young
Ghanaian
tailor,
whose
clothes
on
Instagram
can
be
bought
by
consumers
in
Zimbabwe
using
Zimbabwean
dollars
not
US
dollars
from
that
e-wallets
with
that
tailor
in
Tamale
receiving
payment
in
Ghana
cedis.
“The
technology
to
do
that
is
right
before
us.
What
is
required
is
the
will
to
make
it
happen.
Currently,
numerous
telco
operators
and
financial
institutions
operate
in
silos
creating
an
environment
of
limited
interoperability
which
constrains
the
continent’s
economic
potential.”
He
noted
that
while
technological
advancements
and
innovative
financial
solutions
are
essential,
they
must
be
supported
by
coherent
policies
and
a
unified
vision
among
policymakers
for
efficient
cross-border
transactions
and
economic
growth.
The
Africa
Prosperity
Network
Boss
also
pointed
out
that
by
harmonizing
regulatory
frameworks
and
fostering
partnerships
among
various
stakeholders,
including
governments,
financial
institutions,
telcos
and
tech
companies,
African
countries
can
overcome
the
barriers
to
financial
inclusion
and
create
a
more
integrated
and
prosperous
continent.
“Above
all
we
need
the
political
will
of
African
leaders
and
the
courage
and
commitment
of
our
Central
Bank
Governors
to
make
cross-border
interoperability
happen.
This
Symposium
is
to
look
at
how
this
can
happen
at
the
shortest
possible
time”,
Gabby
Asare
Otchere-Darko
added.
The
Continental
Mobile
Interoperability
Symposium
was
held
under
the
theme,
“Scaling-up
interoperability,
Using
Mobile
Money
to
Buy
and
Sell.”
“I
would
like
to
extend
my
sincere
thanks
to
the
organisers
of
this
symposium
for
their
dedication
towards
the
launch
of
this
initiative.
Your
commitment
to
foster
collaboration
and
innovation
in
this
crucial
area
is
commendable,
permit
me
to
also
add
that
the
initiative
to
scale
up
cross-border
payment
interoperability
aligns
with
the
broader
financial
digitisation
and
inclusion
agenda
of
the
BoG”,
Governor
of
Ghana’s
Central
Bank,
Dr.
Ernest
Addison
said.
Speakers
at
the
symposium
included
Dr.
Ernest
Addison,
Governor
of
the
Bank
of
Ghana
(BoG);
Ursula
Owusu-Ekuful,
Minister
of
Communication
and
Digitalisation;
Dr.
Joe
Anokye,
Director
General
of
the
National
Communication
Authority
(NCA);
Dr.
Ebiekure
Jaspa
Eradiri,
President
of
the
All
Africa
SME’s
Association;
and
Kwame
Oppong,
Head
of
Fintech
and
Innovation
at
the
Bank
of
Ghana.
Other
notable
speakers
were
Dr.
Maxwell
Opoku-Afari,
First
Deputy
Governor
of
the
Bank
of
Ghana;
Foster
Awintiti
Akugri,
Transition
Manager
at
The
Innovation
Village
in
Uganda;
and
Dome
Scaffidi,
President
of
SAPA
Global
Payment
and
Schemes.