The CEO of Ghana’s state-run funds operator instructed UK buyers this week that the nation’s digital finance drive has moved past the inclusion stage and it should now goal monetary well being.
Clara B. Arthur, CEO of the Ghana Interbank Fee System (GhIPSS), made the assertion on the Ghana-UK Funding Summit 2026 held in London on June 1 and a couple of, the place she attended a panel dialogue moderated by First Financial institution UK Chief Government Officer, Mr. Olukolede Adenowo.
Arthur stated on the discussion board that together with the nationwide funds swap, GhIPSS will remove the necessity for a number of bilateral integrations between monetary establishments, scale back market entry prices and supply fintech firms with a shared platform to construct and scale their merchandise. She argued that this structure will make Ghana a extra environment friendly and enticing vacation spot for buyers than markets with out centralized fee infrastructure.
The proposal was made at a discussion board aimed toward attracting British capital to Ghana. President John Mahama, who opened the summit, stated bilateral commerce between the 2 international locations was already in extra of £1.5 billion a 12 months, and that determine was solely a fraction of what the connection might ship.
Arthur additionally famous that upgrades are already underway. GhIPSS has begun migrating Ghana’s prompt funds rail to the ISO 20022 international messaging normal. This can be a transfer aimed toward enhancing cross-border interoperability, decreasing fee occasions, and linking nationwide monetary techniques with worldwide fee networks. The transfer, introduced on the 3i Africa Summit in Accra final month, will allow Ghana’s system to “converse the identical language because the world’s main monetary markets”. ISO 20022 has been extensively adopted by most main monetary market infrastructures in additional than 70 international locations.
GhIPSS can also be at a complicated stage of rolling out interoperability for cellular cash brokers. This enables brokers to switch funds from a single pockets to any pockets on any community, eradicating the constraints which have lengthy been related to complicated fund entry at agent shops throughout the nation.
The Financial institution of Ghana is concurrently implementing a overview of transaction charges throughout the digital monetary ecosystem, with the aim of client safety and affordability.
Arthur stated the Financial institution of Ghana is central to Ghana’s progress by its regulatory framework that gives readability and confidence to buyers, because the nation pursues financial reforms aimed toward stabilizing the macroeconomic atmosphere and strengthening investor confidence.
GhIPSS didn’t present a timeline for finishing the transition to ISO 20022 or the rollout of agent interoperability on the London discussion board.
