February 2026

The Second Deputy Governor of the Bank of Ghana (BoG), Mrs Matilda Asante-Asiedu, has said that as Africa advances implementation of the African Continental Free Trade Area, one truth has become increasingly clear, that  Trade agreements alone do not create trade, payments make trade possible

Without secure, affordable, and reliable means of transferring value, she said, the promise of a truly integrated African market cannot be achieved. Payment systems are strategic trade infrastructure, essential for monetary stability, financial integration, and long-term economic transformation across our continent.

Speaking at the African Prosperity Dialogue (APD) 2026 on the theme “cross-border payments and digital finance systems in Africa” held in Accra on Wednesday, February 4, she said cross-Border Payments in Africa: Challenges and Opportunities Despite Africa’s enormous economic potential, cross-border payments remain expensive, slow, and fragmented.

“Transaction costs for intra-African payments often exceed 7 to 10 2 PUBLIC percent, compared with a global average of about 3 percent. Settlement times can extend from days to weeks. More than 80 percent of intra-African payments are routed through correspondent banks outside the continent, largely in foreign currencies.

“This costs Africa an estimated US$5.3 billion annually and exposes our economies to foreign exchange risks. Yet, amidst these challenges lie tremendous opportunities. AfCFTA brings together a market of over 1.5 billion people and a combined GDP of approximately US$2.8 trillion,” she said.

If fully implemented, she added, intra-African trade could double in the medium term. But this growth will only materialise if our payment systems match Africa’s trade ambitions.

“Thankfully, Africa has already demonstrated global leadership in digital finance innovation. With more than half of the world’s mobile money accounts, the continent has shown how technology can expand financial inclusion and transform livelihoods, and Ghana stands as a notable example. Digital finance has become a lifeline for households, microenterprises, women, and underserved communities.

“However, much of this progress remains domestic rather than continental. For digital finance to fully empower Africa’s single market, inclusion must extend across borders – not only within them.”

In Ghana, Mrs Asante-Asiedu further said, “We have deliberately built a modern, interoperable, and resilient payment ecosystem. Investments in digital public infrastructure have enabled interoperability across banks, mobile money operators, and fintech institutions, supporting real-time payments across our economy.”

‘These domestic successes provide a strong platform for regional integration,’ she said.

“Ghana is an active participant in the Pan-African Payment and Settlement System – PAPSS, which enables cross-border payments in local African currencies, shortens settlement chains, and lowers costs for African traders. Our vision is clear and deliberate: African trade must increasingly be settled in African currencies, through African infrastructure, and supported by African institutions. Central banks play a vital role in fostering innovation, while safeguarding financial stability and public confidence.

“At the Bank of Ghana, we are advancing key initiatives, including • Fintech Passporting, through collaboration with the National Bank of Rwanda, to enable cross-border licensing and regulatory trust. This is a solution that can be scaled across the continent. • Our Africa Next-Generation Digital Public Infrastructure Initiative is testing multilateral interoperability frameworks, settlement models, and future cross-border digital currency arrangements. • The Virtual Asset Service Providers Act, recently passed by Ghana’s parliament, is designed to support emerging digital payment channels while ensuring strong consumer protection and risk oversight.

“These initiatives recognise that payment systems constitute critical national and continental infrastructure requiring robust cybersecurity, regulatory coordination, and trusted governance frameworks.”

Source: 3News

Proving the vital role of public-private partnerships (PPPs) advocated in the National AI Strategy, MTN Ghana has committed two million dollars to the Ministry of Communications, Digital Technology and Innovation.

The funding is directed towards the “One Million Coders” initiative, a flagship programme designed to equip Ghana’s youth with critical digital skills.

“This investment directly operationalises Pillar 2 of the National AI Strategy: ‘Empower Youth for AI Jobs of the Future…

By training youth in coding and digital literacy, MTN is helping to build the “pool of talent” necessary to sustain a local AI ecosystem, a statement copied to the Ghana News Agency said on Wednesday.

The statement, jointly signed by Madam Adwoa Wiafe, MTN Ghana’s Chief Corporate Services and Sustainability Officer, and Madam Georgina Asare Fiagbenu, Senior Manager, Corporate Communications, said the contribution followed a commitment by MTN Group’s engagement with the sector Minister, Mr Samuel Nartey George, on the sidelines of the GSMA Mobile World Congress in Barcelona last year.

The meeting was held between the Minister and MTN Group’s Chief Executive Officer, Ralph Mupita, Vice President (VP) for Ghana, Southern and East Africa, Ebenezer Asante and Stephen Blewett.

“Another milestone worthy of mention is MTN’s involvement that extends to the development of a $25 million ICT Hub, which aligns perfectly with Pillar 3, calling for ‘Deepening Digital Infrastructure” and establishing innovation hubs to support start-ups and researchers,” the statement added.

The Pan African Al Summit (PAAIS) 2026 would return to Ghana for the second time from September 22 to 23, at the Kempinski Hotel in Accra.

It would serve as a forum for high-level interactions, bringing together media, businesses, civil society, around the principles of Ghana’s newly launched National Al Strategy.

Organisers said participation would be free for all delegates as part of measures to ensure the Summit “becomes a true engine for ethical and inclusive Al adoption across the continent.”

“The foundation of the PAAIS initiative stems from Ghana’s ambitious National Al Strategy. Developed by the Ministry of Communications, Digitalisation Technology and Innovation (MoCDTI) with support from Smart Africa and GIZ FAIR Forward, the strategy envisions Ghana as the “Al Hub” of West Africa by 2033.

“Crucially, the document moves beyond mere technological adoption; it prioritises inclusive growth and improving lives. It recognises that for Al to be truly transformative, it must be ethical and accessible to all – not just the urban elite,” the statement said.

“The strategy explicitly outlines an Al-Powered Society where technology advances the potential of marginalised communities, bridging the gap rather than widening it.”

The summit, among other things, would empower students trained by the “One Million Coders” initiative, and scale the entrepreneur incubating in the new ICT Hubs.

Source: GNA

Mobile money transactions in Ghana rose to GH¢518.4 billion in December 2025 as consumers increased spending during the festive season and relied more on digital payments, data released by the Bank of Ghana showed.

The central bank said the surge reflected both seasonal demand and the steady shift by households and businesses towards mobile-based financial services as a preferred payment option.

According to the Bank of Ghana’s Summary of Economic and Financial Data, the December figure marked the highest monthly transaction value recorded in 2025, underlining the role of mobile money in day-to-day commerce across the country.

Transaction volumes climbed to 982 million in December, up from 892 million in November, pointing to increased activity by users over the holiday period.

The rise in volumes was supported by growth in the number of active mobile money accounts, which increased to 26.7 million in December from 25.5 million a month earlier. 

Registered accounts also rose to 80.5 million.

The Governor of the Bank of Ghana, Dr Johnson Asiama, said the figures showed how digital payments had become embedded in Ghana’s retail economy, particularly during periods of high consumer spending. 

“The data showed that mobile money had become the first option for many transactions, especially during the festive season,” he said.

He said the growing reach of agents had improved access to cash-in and cash-out services, especially in peri-urban and rural areas, helping to drive financial inclusion.

Balances held in mobile money wallets reached GH¢39.6 billion in December, the highest level for the year, suggesting stronger confidence in mobile wallets as a place to hold funds. 

“People were keeping more value in their wallets, which showed trust in the system,” the official said.

Interoperability gains

Interoperable mobile money transactions also strengthened during the month, with transaction values rising to GH¢5.8 billion from GH¢4.9 billion in November.

The Bank of Ghana said the increase was largely driven by cross-network transfers during the holidays, as users sent money to family and friends on different networks.

A payments industry analyst said interoperability had reduced friction in the system, “Customers no longer worried about which network they were on, and that encouraged more transfers,” he said.

Despite the growth in digital channels, traditional payment instruments accounted for a smaller share of transactions in December.

Cheque payments totalled GH¢37.3 billion during the month, while electronic platforms such as GhIPSS Instant Pay recorded GH¢73.3 billion in transaction value, both well below mobile money levels.

The Bank of Ghana said mobile money had firmly established itself as the backbone of Ghana’s retail payments system, with rising smartphone use and agent expansion expected to support further growth into 2026. 

Source: Graphic Business

Telecel Group and King’s Trust International have signed a new partnership agreement to support foundational digital skills development for young people in Ghana.

The initiative will support a targeted project focused on Junior High Schools in Ghana, helping to address gaps in access to practical ICT education. Although ICT is a compulsory subject in Ghanaian schools, many lack functional computer labs, limiting students’ ability to gain hands-on digital skills.

Through this partnership, the project will introduce a new IT practice component into KI’s Skills for School programme, benefiting seven schools and enabling students to apply digital skills in real-world contexts. In addition to this, IT hardware will also be provided to schools, enabling the practical teaching of IT literacy in those establishments.

The Skills for School Programme, launched in 2020 and delivered by dedicated teachers in partnership with Junior Achievement Ghana (JA Ghana), provides targeted support for students aged 11-18 who are at risk of underachieving or dropping out of school altogether.

The initiative is expected to provide more than 4,000 students with an entry point into ICT learning, with students each year benefiting from enhanced practical IT sessions delivered by trained teachers. An IT practice component will be added to the current Skills for School programme.

Moh Damush, Group CEO of Telecel, said: “We are proud to partner with King’s Trust International to support young people in Ghana. This initiative reflects our commitment to digital inclusion and to empowering the next generation with the skills and confidence required for the future.”

Will Straw, Chief Executive Officer of King’s Trust International, said: “Access to digital skills is increasingly essential for young people’s education and future opportunities. This partnership with Telecel will help ensure students in underserved communities can move beyond theoretical learning and gain the practical ICT skills they need to succeed in today’s digital world.”

The agreement runs until 30 March 2027 and is intended as the first year of a multi-year partnership between Telecel and King’s Trust International, with both organizations expressing an ambition to deepen their collaboration in support of education and youth development in Ghana.

Source: Ghanaweb

Leading telecommunications provider MTN Ghana has unveiled Business Eye, its new enterprise surveillance solution, now officially available to businesses across the country.

Designed to empower companies to monitor assets, oversee operations, and stay connected 24/7. Business Eye is ideal for a wide range of environments, including retail shops, restaurants, fuel stations, warehouses and offices.

Business Eye is available in both SIM- and WiFi-enabled models, providing businesses with surveillance coverage without limits. The offering also includes round-the-clock remote monitoring with real-time alerts, secure cloud storage and local SD-card backup, a solar-powered feature to maintain protection even during power outages, and two-way audio that enables both observation and immediate communication.

Commenting on the product, Angela Mensah Poku, Chief Enterprise Business Officer of MTN Ghana, emphasised the strategic value of Business Eye in supporting enterprises across the country.

“At MTN, we are committed to empowering businesses with smart, innovative solutions that go beyond connectivity. As businesses operate through the Christmas period and beyond, Business Eye provides real-time visibility and control, helping organisations remain secure and efficient even in challenging environments. This launch reflects our dedication to supporting Ghanaian enterprises to stay agile, resilient, and future-ready.”

– Angela Mensah Poku, Chief Enterprise Business Officer, MTN Ghana

To make adoption easy, MTN Ghana has launched dedicated IoT bundle packages specifically for Business Eye. Interested customers can subscribe by dialling *5060#. Devices can be purchased at any MTN retail outlet , authorised reseller or explored online via MTN Ghana’s business solutions webpage.

With Business Eye, MTN Ghana is extending its commitment from providing connectivity to delivering intelligent, business-grade solutions that help enterprises stay secure, agile, and ready for the future.

Source: TechAfricaNews