Eli Hini, Chief Executive Officer MoMo PSB Limited Nigeria, has stressed the need to build confidence in a payment system that works to facilitate intra- Africa trade.
He said, “There is no denying, the importance of interoperability to deepen financial inclusion and intra-Africa trade. For this to be efficient, one key thing we need is confidence in a system that works.”
He made this statement at the Africa Prosperity Dialogues hosted at the Peduase Presidential Lodge in Accra, Ghana.
Mr. Hini participated in a panel discussion on “Scaling Up Mobile Interoperability to Deepen Financial Inclusion and Intra-African Trade,” where he underscored the significance of instilling confidence in a functional system.
The African Prosperity Dialogue is a three-day event being held on the theme:” Delivering Prosperity in Africa: Produce, Add Value and Trade.”
The Dialogue brought together government and business leaders from across Africa and beyond to exchange ideas on key issues and solutions needed to build and harness Africa’s growth.
He said in Ghana, “we have built confidence in the ecosystem regarding digital payment options provided by network operators such as MoMo.” “Ghanaians have developed trust in using these digital payment options for seamless money transfers with minimal challenges and that is what we must see on the African continent as well,” he added.
He said for there to be interoperability for African countries to trade among themselves, there must be confidence in a system that works and the infrastructure and technology were readily available.
He urged leaders of the continent to hold the needed conversations to provide the necessary protocols and frameworks that allow integration and interoperability across borders.
Mr. Hini said Small and Medium-sized Enterprises (SMEs) were important in the journey toward interoperability in Africa.
He said, “ease of participation is a crucial factor in the discussion of interoperability if we want to deepen financial inclusion and intra-Africa trade.”
He said if the governments were finally able to get the framework and structures that allowed them to trade among ourselves, then “we must take into consideration the ease of participation.”
Mr. Hini said SMEs, often grappling with challenges in cross-border trade, should be a focal point, adding that it would be a waste of time to solve the issue of cross-border trade if these people could not benefit from it.
He said SMEs must be well integrated into the system and given the needed access to leverage the benefits of the agenda.
“We must be careful not to put up roadblocks that hinder their participation,” he added.
GNA
CA/
29 Jan. 2024
