Special Announcement - Africa's Next Gen DPI

Summary: 

The Bank of Ghana and National Bank of Rwanda signed an MoU to implement Africa’s first license passporting framework. The MoU which was 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 that builds and tests a framework on cross border that will be beneficial to the various public and private sector efforts at solving that challenge.

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 of the project also invited the other central banks on the continent to join in development of the framework which is expected to be complementary to various public and private sector efforts aimed at cross-border interoperability across Africa.

While announcing the agreement at the Inclusive FinTech Forum, John Rwangombwa, Governor of the National Bank of Rwanda said: ‘Africa is home to one of the most dynamic financial ecosystems, yet cross-border transactions remain costly and inefficient, limiting trade and financial inclusion. This project is designed to challenge this narrative by creating 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 the support of the PAPSS and GFTN. Further information on participation, feedback and general enquiries will be provided be provided on a website to be announced shortly.

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