Digital Economy: BoG Governor Outlines Vision For Cheaper Cross-Border Payments

The Governor of the Bank of Ghana (BoG), Dr. Ernest Addison, has outlined key strategic priorities for advancing Africa’s digital financial ecosystem, emphasizing that reducing transaction costs and strengthening consumer trust are vital for driving cross-border trade. According to official central bank address disclosures reported by Citi Newsroom on Tuesday, October 13, 2026, the Governor presented the framework during an international continental fintech conference in Accra.

Delivering the keynote address, Dr. Addison highlighted that high remittance costs and fragmented payment systems across African nations continue to hinder intra-African commerce under the African Continental Free Trade Area (AfCFTA). He noted that accelerating the integration of regional payment infrastructures—such as the Pan-African Payment and Settlement System (PAPSS)—is essential for lowering payment processing fees and enhancing liquidity across borders.

The Bank of Ghana chief also underscored the critical role of robust cybersecurity frameworks, data protection standards, and regulatory harmonisation in building trust within the digital financial ecosystem. He called for closer collaboration between central banks, fintech innovators, and telecom operators to establish interoperable mobile money platforms capable of supporting micro, small, and medium enterprises (MSMEs).

Financial analysts and banking executives across West Africa have commended the Bank of Ghana’s leadership in regulatory innovation, noting that implementing unified digital payment standards will expand financial inclusion, lower transaction overheads, and accelerate economic integration across the continent.

Source: Bank of Ghana / Citi Newsroom Finance Desk

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