My vision is to pursue common currency for Africa via momo interoperability – Bawumia

Vice President Mahamudu Bawumia aims to establish a common African currency through mobile money (MoMo) interoperability to boost intra-African trade.

Speaking at the Africa Prosperity Network Symposium, he highlighted the low levels of intra-African trade, attributing this to the absence of a common currency.

Bawumia emphasized the benefits of mobile money interoperability, citing Ghana’s successful implementation as a model. He urged African leaders to demonstrate strong political will and collaborate on initiatives like the Pan-African Payment and Settlement System.

This push for interoperability is seen as crucial for enhancing financial inclusion and leveraging the African Continental Free Trade Area (AfCFTA).