The Bank of Ghana is piloting cross-border payment systems using central bank digital currencies, stablecoins, bank accounts and mobile wallets to make transactions between African countries more efficient, Governor Dr. Johnson Pandit Asiama said, according to local media reports.
Speaking at the IMF-World Bank Annual Meetings in Bangkok, Asiama said the initiative covers the Ghana-Rwanda and Ghana-Nigeria corridors. On the Ghana-Nigeria route, the Pan-African Payment and Settlement System (PAPSS) is being extended to mobile wallets, a step that could bring regional payments closer to everyday users.
“The main objective is to move these pilots to live services, building on existing infrastructure such as PAPSS rather than creating new systems,” Asiama said.
The governor’s remarks signal a preference for integrating with established regional rails instead of launching parallel platforms. PAPSS, developed to facilitate intra-African trade payments in local currencies, has primarily served banks and larger institutions. Extending it to mobile wallets could widen its reach to consumers, small businesses and informal traders.
Asiama also stressed that increased access to financial services must translate into meaningful financial inclusion. While 81% of Ghanaian adults have access to financial services, only 52.7% are financially included when actual usage and service quality are considered, he noted. That gap, he suggested, is critical as Ghana and its neighbors experiment with digital payment tools.
The pilot reflects a broader push across Africa to reduce the cost and friction of cross-border transactions, which remain fragmented by currencies, regulations and correspondent banking relationships. By testing a mix of CBDCs, stablecoins, traditional bank accounts and mobile wallets, Ghana is exploring whether multiple payment channels can interoperate across borders.
For Ghana, the stakes are significant. Remittances, trade and regional integration all depend on payment systems that are reliable and affordable. The Bank of Ghana’s pilot will be watched closely by other central banks exploring similar models.
Asiama indicated that the next phase will focus on scaling the pilots into live services. If successful, the Ghana-Rwanda and Ghana-Nigeria corridors could serve as templates for broader African cross-border payment networks.
The IMF-World Bank Annual Meetings in Bangkok have drawn policymakers from around the world to discuss financial stability, inclusion and the digitalization of finance. Ghana’s pilot adds a concrete African case study to those debates.
No timeline was announced for when the pilots might become fully live. But the Bank of Ghana’s direction is clear: build on existing infrastructure, connect mobile wallets, and measure inclusion not just by access, but by actual use.
