Second Deputy Governor of the Bank of Ghana (BoG), Matilda Asante Asiedu, has affirmed the central bank\u2019s commitment to the Pan-African Payment and Settlement System (PAPSS), highlighting its critical benefits for Ghana\u2019s economy.<\/p>\n
Speaking to\u00a0JoyBusiness<\/em>\u00a0on the sidelines of the Afreximbank Annual Shareholders Meeting in Abuja, Nigeria, she said the system offers major advantages in managing Ghana\u2019s balance of payments, strengthening the Bank\u2019s reserves, and reducing the cost of cross-border trade.<\/p>\n \u201cFor us in Ghana, PAPSS is very active. We believe in the infrastructure and its impact on financial intermediation,\u201d she said.<\/p>\n \u201cIndeed, we were among the first group of central banks in the region to sign up to this system.\u201d<\/p>\n The Pan-African Payment and Settlement System, spearheaded by Afreximbank, is a centralised financial infrastructure that facilitates the smooth and secure transfer of funds across African borders.<\/p>\n It eliminates the need for currency conversions and minimises transaction costs, which Mrs. Asiedu said is key to unlocking trade potential for Ghana and the continent at large.<\/p>\n \u201cWe are happy that more countries are coming on board. This expansion will further reduce the cost of cross-border transactions for Ghanaian businesses,\u201d she added.<\/p>\n Mrs. Asiedu also emphasised the Bank of Ghana\u2019s broader commitment to developing and regulating digital payment systems.<\/p>\n She said the Bank is not only advancing domestic infrastructure but also collaborating with regional partners to strengthen innovation and supervision.<\/p>\n \u201cWe are working hard to catch up with global trends in digital banking and payment systems,\u201d she stated. \u201cIt\u2019s about effective regulation, and that means embracing innovative solutions that can help us regulate smarter.\u201d<\/p>\n She revealed that during the Afreximbank meeting, several central bank governors expressed interest in learning from Ghana\u2019s experience in payment system regulation and digital innovation.<\/p>\n \u201cWe\u2019re open to collaboration and knowledge-sharing. That\u2019s how we all grow,\u201d she added.<\/p>\n The Abuja meeting concluded with the election of George Elombi, former Vice President in charge of legal and corporate services at Afreximbank, as the new President and Board Chairman of the Bank.<\/p>\n Second Deputy Governor of the Bank of Ghana (BoG), Matilda Asante Asiedu, has affirmed the central bank\u2019s commitment to the Pan-African Payment and Settlement System (PAPSS), highlighting its critical benefits for Ghana\u2019s economy. Speaking to\u00a0JoyBusiness\u00a0on the sidelines of the Afreximbank Annual Shareholders Meeting in Abuja, Nigeria, she said the system offers major advantages in managing […]<\/p>\n","protected":false},"author":123457,"featured_media":11466,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[3525,41],"tags":[3644,3643],"class_list":["post-11465","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","category-general-news","tag-matilda-asante-asiedu","tag-second-deputy-governor-of-the-bank-of-ghana-bog"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11465","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/123457"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11465"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11465\/revisions"}],"predecessor-version":[{"id":11467,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/11465\/revisions\/11467"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/11466"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Disclaimer: The content provided on Fish FM Online is for informational and entertainment purposes only. While we strive for accuracy, we do not guarantee the completeness, reliability, or timeliness of the information presented. Fish FM Online and its affiliates are not responsible for any errors or omissions, nor for any decisions made based on the content available on our platform.<\/em><\/h6>\n","protected":false},"excerpt":{"rendered":"