Bawumia vindicated as Ghana adjudged only African country to score 100% on financial inclusion


The 2022 ‘State of Inclusive Payment in Africa’ report focused on inclusive instant payment systems in 12 African countries.

Ghana, remarkably, was the only country that scored 100% on access to financial inclusion.

Ghana’s feat is due to the successful implementation of the mobile money interoperability (MMI) platform, a bedrock of Dr Bawumia’s digitalisation agenda and a policy he has been working on since 2007.

The mobile money interoperability MMI platform integrates all payments platforms across banks, fintechs and telcos, giving access to every Ghanaian to make and receive instant payments.

It is hosted on the Ghana Interbank Payments and Settlements Systems (GhIPSS), which again, was the brainchild of Dr Mahamudu Bawumia during his time at the Bank of Ghana.

Speaking at the Mobile World Congress Africa, Chief Executive Officer of GhIPSSS, Archie Hesse, spoke on how the platform was gradually improved upon to get to its current state.

According to him, GhIPSS started by first integrating banks to make them interoperable on the back of the GhIPSS Instant Pay (GIP); then GhIPSS introduced a biometric payment system called e-zwich, which was also made interoperable, before moving on integrate the mobile money operators into an interoperable platform.

What we then did was to close the triangle by making all the three platforms interoperable to ensure that no matter who is making payment and from wherever, they will be able to do so seamlessly and instantly,” he said.

Dr Bawumia spearheaded the introduction of the Ghana Interbank Payment and Settlement Systems Limited (GHIPSS), a wholly-owned subsidiary of the Bank of Ghana during his time with the central bank.


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