Bawumia Vindicated Again As Ghana Becomes Africa’s Only Country With Fully Interoperable Multiple Instant Payment Systems

Ghana has emerged as the only African country with fully interoperable multiple instant payment systems (IPS), according to KPMG’s 2024 West Africa Banking Industry Customer Experience Survey.

Ghana’s former Vice President, Dr. Mahamudu Bawumia has often touted Ghana’s peerless interoperable payment system on the African continent but he was often challenged by skeptics.

The latest confirmation by the KPMG survey, published on international platforms including renowned international business publication “Norvan Reports” and coming in the wake of recent international high ratings of Ghana’s mobile money interoperable system again vindicates the former Vice President.

According to the KPMG’s 2024 West Africa Banking Industry Customer Experience Survey, Ghana outperformed regional peers such as Morocco, South Africa, Egypt, Nigeria, Kenya and Tanzania in digital payment integration.

The report indicated that Africa has 28 IPS spread across 20 countries with only seven nations operating multiple IPS.

However, Ghana stands out as the only country where these systems are fully interoperable, allowing seamless fund transfers between different platforms.

Ghana operates two key IPS; the GhIPSS Instant Pay (GIP) and Mobile Money Interoperability (MMI), both of which interact seamlessly, therefore enhancing customer experience and financial inclusion.

In a nutshell, Ghana operates a seamless interoperable payment system between mobile money wallets of all networks and bank accounts.

Source: Ghmessenger.com