Keynote Address by Dr. Zakari Mumuni, First Deputy Governor at the 2026 3i Africa Summit
Source: bank_of_ghana
Date: 2026-05-07

3i Africa Summit 2026 Inclusive Instant Payments as Economic Infrastructure Keynote Address by Dr. Zakari Mumuni First Deputy Governor, Bank of Ghana Accra | 6 May 2026 Distinguished Governors of Central Banks Esteemed regulators, Leaders of our financial institutions, Development partners, Ladies and gentlemen. Good afternoon to you all. 1. I am truly honoured to open this track conversation with my keynote address on Inclusive Instant Payments as Economic Infrastructure. Permit me to use this opportunity to thank Mojaloop for sponsoring this track at this year’s edition of the 3i Africa Summit and curating the conversations for the good of Africa. 2. Distinguished ladies and gentlemen, Africa stands at a decisive moment. We have achieved remarkable progress in expanding access to financial services, yet the foundations of our payment systems remain fragmented, costly, and insufficiently interconnected. Until we resolve this, the promise of a fully integrated digital economy will remain unreali sed. Inclusive instant payments are therefore not optional—they are essential infrastructure. 3. Over the past two decades, mobile money, agency banking, fintech innovation, and digital wallets have transformed access across our continent. However, access without seamless usability has limits. High transaction costs, siloed platforms, and constrained interoperability continue to impede the efficient flow of value across systems, sectors, and borders. 4. Inclusive Instant Payment Systems (IPS) provide a clear path forward. Properly designed and implemented, they enable real -time, low -cost transactions across interoperable networks, linking financial institutions, fintech platforms, and end users into a cohesive ecosystem. In doing so, they convert fragmented access into meaningful economic participation. 5. The economic case is compelling. Instant payments accelerate business cash cycles, strengthen liquidity management, and enhance productivity. They empower households—particularly underserved communities —with reliable and affordable financial services. For governments, they improve revenue mobili sation, transparency, and targeting of public interventions. For financial institutions, they unlock data that can drive innovation in credit, savings, and risk management. 6. Yet progress across Africa remains uneven. No instant payment system has fully achieved inclusivity at scale. This underscores a central reality: building infrastructure is not enough —we must ensure that it works universally and equitably. 7. Central banks have established strong regulatory foundations, but regulation alone cannot deliver integration. What is required now is coordinated execution across the ecosystem. Regulators, payment system operators, financial institutions, and fintechs must work in concert to build interoperable systems that eliminate friction and expand reach. 8. This calls for focused reforms. We must streamline and harmonise eKYC frameworks to reduce onboarding barriers. We must align licensing regimes to enable innovation while maintaining stability. And we must deepen cross-border cooperation to support interoperability and payment system linkages across jurisdictions. 9. In Ghana, we have made tangible progress, including the deployment of multiple instant payment platforms and ongoing efforts to strengthen inter -scheme interoperability. However, our ambition goes further. The objective is not simply to build systems, but to ensure that they are accessible, affordable, and trusted by every segment of society. 10. Colleagues, the principle is straightforward: a payment system that excludes cannot serve as economic infrastructure. If instant payments are to underpin Africa’s digital future, they must function seamlessly for all users, across all platforms, in real time. 11. Let us therefore act with urgency and purpose. Let us move beyond fragmentation to full interoperability. Let us create systems that are inclusive by design and efficient by default. And let us work together —across institutions and across borders—to delive r the integrated payment infrastructure that our economies require. 12. The path is clear, the technology is available, and the benefits are substantial. What is needed now is commitment and execution. 13. Let us commit here at the 3i Africa Summit, to accelerating the development of inclusive instant payment systems that support growth, deepen inclusion, and strengthen economic resilience across Africa. Thank you, and welcome to Ghana.