Telecel Ghana urges collaboration for cross-border Mobile Money Interoperability

The Mobile Financial Services Manager for Telecel Ghana, Mrs Judith Adumua-Bossman, has emphasized the need for collaboration to ensure cross-border mobile money interoperability to boost trade across Africa.

Despite calls for adopting a mobile money interoperability system to facilitate seamless trading, implementation remains stagnant without unified efforts from stakeholders.

Speaking at the Africa Prosperity Network’s Symposium on ‘Scaling Up Interoperability: Using Mobile Money to Buy & Sell Across Africa,’ Mrs. Adumua-Bossman urged telcos, banks, and FinTech firms to cooperate in advancing cross-border mobile money interoperability. She highlighted the numerous benefits of this initiative, particularly in enhancing trade and business expansion for customers.

“The next step in mobile money interoperability is to facilitate seamless and convenient cross-border transactions for our customers who are demanding this service to increase and expand their trade and businesses,” she stated.

Addressing concerns about fraud and security, Mrs. Adumua-Bossman assured that increased security measures could mitigate these issues, making the platform safer for users.

Telecel Ghana is committed to implementing cross-border mobile money interoperability and is actively engaging with partners to advance this goal. Mrs. Adumua-Bossman stressed the potential benefits of advocating for collaboration with regulators and financial institutions to develop harmonized frameworks for seamless transactions.

Her sentiments were echoed by other speakers, including Ghana’s Vice President, Dr. Mahamudu Bawumia, who supported the adoption of interoperability across Africa.

“Cross-border mobile money interoperability is a necessity for Africa’s economic growth. We need to invest in the right partnerships and collaborations, along with the needed regulatory support, to enable seamless transactions across Africa,” Mrs. Adumua-Bossman concluded.

The symposium, supported by Telecel Ghana, gathered key players in trade, finance, and government to discuss the role of mobile money interoperability in Africa’s growth and development, setting the stage for ongoing discussions on integrated financial solutions for the continent.