Ghana and Rwanda to Implement Africa’s First Fintech License Passport Framework

Kigali, Rwanda, 28 February 2025 – The Bank of Ghana and National Bank of Rwanda signed an MoU to implement Africa’s first license passporting framework. The MoU, signed at the Inclusive FinTech Forum on the 25^th February 2025, also included the exploration of cross-border payment interoperability. The framework is designed to facilitate easier cross-border operations for fintechs in both countries.

The two central banks, in partnership with the Global Finance and Technology Network (GFTN) and Pan-African Payment and Settlement System (PAPSS), announced a central bank-led initiative to build and test a cross-border framework benefiting various public and private sector efforts.

The Next-Gen Digital Public Infrastructure (Next-Gen DPI) framework will play a crucial role in driving seamless cross-border trade, financial inclusion, and economic growth across the continent. Initiators invited other African central banks to join the development, aiming for complementary efforts towards cross-border interoperability in Africa.

At the Inclusive FinTech Forum, John Rwangombwa, Governor of the National Bank of Rwanda, said: ‘Africa hosts one of the most dynamic financial ecosystems, yet cross-border transactions remain costly and inefficient, limiting trade and financial inclusion. This project aims to create a system that facilitates instant, low-cost, and secure payments across African borders.’

Africa’s Next-Gen DPI is an initiative of the Bank of Ghana and the National Bank of Rwanda with support from PAPSS and GFTN. Further participation details and enquiries will be announced soon on a dedicated website.

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ANNEX 

Speech

The full text of the Governor of the National Bank of Rwanda’s speech announcing Africa’s NextGen Digital Public Infrastructure framework can be found here.

Photo

Photos of the signing of the framework can be found here.

About the partners

The National Bank of Rwanda: Established in 1964, the National Bank of Rwanda is Rwanda’s Central Bank mandated to ensure price stability and a sound financial system. The Bank manages monetary policy for macroeconomic stability and oversees financial system regulation and supervision. Its role now includes financial inclusion, consumer protection, and addressing climate change.

The Bank of Ghana: Established in 1957, the Bank of Ghana promotes currency stability, supports balance of payments and public finance, regulates and supervises banking and credit systems, and promotes payment and settlement systems.

Global Finance & Technology Network (GFTN): The Global Finance & Technology Network (GFTN) is a not-for-profit organisation founded by the Monetary Authority of Singapore (MAS) in 2024 to foster innovation for efficient, resilient, and inclusive financial ecosystems globally. GFTN hosts forums, provides advisory services, offers access to digital platforms, and invests in startups with growth and social impact potential.