AU adopts Akufo-Addo’s proposal for Mobile Money Interoperability

The African Union (AU) has endorsed President Nana Akufo-Addo's vision for a continent-wide financial institution and aims to accelerate mobile money interoperability across Africa.

At the AU Mid-Year Coordination meeting in Accra, President Akufo-Addo emphasized enhancing financial inclusion for vulnerable populations.

The proposed AU Financial Institution aims to boost intra-African trade, deepen economic integration, and improve lives by facilitating cross-border transactions and investments.

The AU's commitment to mobile money interoperability is expected to revolutionize business, create jobs, and stimulate economic activity. To achieve interoperability by 2027, member states are urged to adopt the Pan-African Payment and Settlement System (PAPSS) and develop a unified regulatory framework.