Governor of the Bank of Ghana Dr Johnson Pandit Asiama has said Ghana is currently working with regional partners to introduce licence passporting arrangements for fintech firms as part of efforts to build a more integrated and competitive African financial market that powers cross-border trade on the continent.
Speaking at the ACI FMA World Congress 2026 in Accra under the theme, “Ghana at the Centre of a New Financial Markets Era,” Dr Asiama stated that financial markets in emerging economies could no longer afford to operate in isolation if they intended to compete effectively in an increasingly digital and interconnected global economy.
According to him, licence passporting would allow fintech firms licensed in one African jurisdiction to expand operations into another market without having to rebuild compliance structures or seek entirely new approvals from scratch.
“Payment transactions initiated in Accra should eventually clear across regional commercial hubs such as Abidjan and Lagos with the same ease as transactions conducted within Ghana,” he stated.
He said Ghana was therefore collaborating with regional partners to develop harmonised payment rails and common regulatory approaches capable of supporting seamless digital financial services across multiple jurisdictions.
Indeed, Ghana has already been pushing this agenda to break regulatory barriers and allow fintech firms to operate seamlessly and expand cross-border trade through digitalization.
For instance, in February last year, Ghana and Rwanda launched Africa’s first ever license passporting regime to allow fintechs from both countries use just one license to operate in both countries without facing additional regulatory hurdles. That has been working well and now Ghana is on a journey to extend the courtesy to other countries.
Again, Ghana has also empowered three fintechs – Mobile Money Fintech Limited, Brij Fintech, and G-Money to pilot cross-border transfers between Ghana and Nigeria within the Bank of Ghana regulatory sandbox with the view expanding access over time, once all the regulatory issues are cleared. Meanwhile, another fintech, Onafrique has also been allowed to drive transfers between Ghana and Nigeria via Mobile Money Fintech Limited.
The Governor said the long-term ambition was to create an environment in which a fintech licensed in one African country could efficiently serve customers in all other countries across the continent, thereby encouraging innovation, reducing operational barriers, and increasing financial inclusion.
Such reforms, he noted, formed part of a broader regional strategy aimed at harmonising payment systems, improving financial connectivity and reducing regulatory fragmentation across African economies.
“Markets that are not connected will not compete,” Dr Asiama told delegates, arguing that while capital moved easily across borders, regulatory systems often remained constrained by national boundaries.
Dr Asiama emphasised that regional financial integration should no longer be treated as an aspiration but as a necessary design principle for competitive emerging markets in the coming decade.
He argued that stronger regulatory coordination, digital payment interoperability and cross-border financial access would position African economies to play a greater role in shaping global financial market systems rather than simply adapting to frameworks designed elsewhere.
The Governor made the remarks while outlining Ghana’s broader vision for financial market transformation, which he said depended on digital innovation, credible regulation and regional cooperation to strengthen resilience and unlock new economic opportunities.
Also Read:
Ghana and Rwanda launch Africa’s maiden License Passporting Framework
Regulatory harmonization critical to cross-border payments in Africa – AfricaNenda
Deepening Financial Inclusion in Africa: AfricaNenda proposes regulatory harmonization, data sharing
Cross-Border Transfers in Africa: Let’s promote PAPSS over SWIFT – Sam George
