Bank of Ghana pilots digital cross-border payments with Rwanda, Nigeria

The Bank of Ghana is currently piloting digital cross-border payments in corridors between Rwanda and Nigeria. These pilots aim to test the feasibility of various forms of money, such as central bank digital currencies, stablecoins, bank accounts, and mobile wallets, to move seamlessly across borders without passing through correspondent banks outside the continent.

The Bank of Ghana has also expanded the Pan-African Payment and Settlement System (PAPSS) to mobile wallets in the Ghana-Nigeria corridor, shifting from bank-only settlement to mobile money inclusion. Dr. Johnson Pandit Asiama, the Bank of Ghana's Governor, announced this development at a high-level event during the 2026 International Monetary Fund (IMF)/World Bank Group (WBG) annual meetings in Bangkok.

The focus of this event was on digital innovations in payments and the future agenda for the Sub-Saharan Africa (SSA) region. The pilot programs aim to move from the testing phase to live services, leveraging existing infrastructure like PAPSS, rather than creating entirely new systems. Dr. Asiama emphasized that mobile wallets are dominant in both Ghana and Nigeria, making their integration into the PAPSS system crucial.

He noted that this partnership with Rwanda and Nigeria is strategically important, as mobile wallets are the primary form of money in these countries. The innovative approach aims to reduce costs and improve speed and transparency in cross-border transactions. Dr. Asiama highlighted that the future of African payments will not be determined by a single technology, and central banks should focus on ensuring that emerging systems are safe, efficient, resilient, and inclusive.

He called for increased regional collaboration to build a safe, efficient, and inclusive payment ecosystem that supports Africa's trade, investment, and long-term development goals. Additionally, Dr. Asiama expressed concerns about the high costs and duplicative licensing faced by African fintechs when entering different markets, even when the activities and risks are similar.

He proposed a License Passporting Framework with the National Bank of Rwanda as a practical model and encouraged more than 10 countries to adopt this regional approach. This framework should be complemented by common standards for payment messaging, payee verification, and fraud data sharing.