Strong payment system needed for smooth operation of free trade in Africa – Zeepay CEO
Founder and Chief Executive Officer of Zeepay, Andrew Takyi-Appiah, is advocating the implementation of a strong payment settlement system to facilitate the smooth operation of the African Continental Free Trade Area, AfCFTA.
Citing the benefits that this system will offer to stakeholders in the African private sector, he said a reliable and efficient national and cross-border payments system would also support African regional trade and promote financial stability.
“We have been moving goods on a small scale for a very long time after AfCFTA came to play. Let’s not get too serious but keep it simple to make sure that trade is settled. We must make it possible so that your average trader who is in Ivory Coast and wants to move fish to Ghana is paid using mobile money because we got licenses to these markets for inbound and outbound payment. That is what Africa Free Trade is all about.
Andrew Takyi-Appiah made the call on Day 2 of the Citi Business Festival on-air series on the topic, ‘The Changing Payments Landscape.’
“The banks will play their part, but Mobile Money has proven to be the closest thing to the barrels and that is the broad Africa we want to create”, he added.
The Citi Business Festival 2023 is powered by Citi TV and Citi FM in partnership with Absa and is proudly sponsored by MTN MOMO, MTN Business, and Zeepay with support from GIRSAL.
Source: Ghana Business
