GHIPSS CEO calls for stronger payment infrastructure to scale pan-African fintech

By:  Nana Appiah Acquaye

The Chief Executive Officer of the Ghana Interbank Payment and Settlement Systems (GHIPSS), Clara Arthur, has called for stronger payment infrastructure and regulatory collaboration to support the growth of cross-border fintech services across Africa.

Speaking during a panel discussion at the Inclusive FinTech Forum 2026 in Kigali, Rwanda, Arthur addressed the topic “Scaling Beyond Borders: Confronting the Realities of Building Pan-African FinTech,” highlighting the structural foundations needed to support the expansion of digital financial services across the continent.

She noted that Africa’s fintech sector is projected to generate between $47 billion and $48 billion in revenue by 2028, but emphasized that achieving this growth will require more than innovation. According to her, sustainable expansion across borders will depend on reliable and interoperable national payment systems, trusted settlement frameworks with predictable liquidity arrangements, and regulatory cooperation among African countries.

Arthur pointed to the importance of regulatory recognition frameworks that allow financial regulators to acknowledge licenses or approvals issued in other jurisdictions. Such arrangements, she said, can reduce duplication for fintech companies seeking to expand across the continent.

She also highlighted ongoing efforts by the Bank of Ghana and the National Bank of Rwanda under a license passporting framework designed to facilitate cross-border fintech operations, with the Central Bank of Kenya also joining the initiative.

Arthur said Africa already has the technological infrastructure, supportive regulators, and an emerging ecosystem of innovators, but stressed that stronger coordination is needed to connect payment systems and align regulatory approaches to enable seamless cross-border digital payments.