A call for collaboration to implement cross-border mobile money transactions across Africa has been made by Judith Adumua-Bossman, Mobile Financial Services Manager for Telecel Ghana.
The Need for Collaboration
Ms. Adumua-Bossman spoke at the Africa Prosperity Network’s Symposium on “Scaling Up Interoperability: Using Mobile Money to Buy & Sell Across Africa.” There, she emphasized the importance of telecom companies, banks, and financial technology firms working together to make cross-border mobile money a reality. This would allow customers to easily conduct business across national borders.
Unlocking Africa’s Economic Potential
The symposium brought together key players in finance, trade, and government to discuss how mobile money interoperability can unlock Africa’s economic potential. Ms. Adumua-Bossman acknowledged challenges like fraud and dispute resolution, but argued that these can be addressed through stronger security measures, customer education, and standardized complaint processes.
A Call to Action
Ms. Adumua-Bossman stressed the urgency of collaboration: “It’s about time we worked together…to develop harmonized frameworks… that enable seamless cross-border transactions.” She highlighted Telecel Ghana’s commitment to interoperability, citing their discussions with partners and participation in industry initiatives.
Benefits and Next Steps
Experts agreed that cross-border mobile money has the potential to significantly boost trade within Africa, empower small businesses, and expand financial inclusion. Ms. Adumua-Bossman concluded by calling for investment in partnerships to make this the next big goal for the African financial sector. She stated, “Cross-border mobile money interoperability is a necessity for Africa’s economic growth.”
The symposium, supported by Telecel Ghana, has laid the groundwork for discussions on creating interoperable financial solutions for a more integrated and financially inclusive Africa.
