Take advantage of AfCFTA to design cross-border payment platforms – Nana Banahene

Nana Yaw Banahene, the Country Manager for AZA Finance, says fintech companies can thrive on the implementation of AfCFTA to design and develop cross-border payment platforms for transactions.

He said there were many opportunities that the companies could leverage to provide services and other measures for players in the intra-Africa trade space.

Nana Banahene was speaking as part of a panel during the third edition of The Money Summit in Accra.

The Summit was on the theme: “Africa’s Robust Financial Sector: The Catalyst for sustainable economic growth.”

The Summit organised by the Business and Financial Times brought together experts from across the financial industry to discuss the latest trends and opportunities in Africa’s rapidly-evolving financial landscape.

It is also to enhance the investor confidence and bring actors in the financial sector to provide solutions that would or could anchor investor confidence in the economy as well to ease the hardship and challenges of the business of the average Ghanaian.

He said even though there were some few payment platforms like the Pan-African Payments and Settlement System (PAPSS), other ones could be developed to enable seamless cross-border transactions and enhancing the efficiency of the financial markets.

Nana Banahene said there were a lot of collaborations going on between the Banks and the fintech companies to provide service to the Ghanaian consumer.

He said there was a unique way, where Banks and these companies could deploy to reach the unbanked leveraging on certain levels of technology of the fintech for target audience.

He urged players in the fintech space to take advantage of the AfCFTA platform to enter new markets and provide quality service.