Chief Commercial Operations Officer of CellularMoney LTD, Abdul Razak Issaka Ali, has advised the Bank of Ghana (BoG) to embody somewhat than worry monetary progress (fintech) inventions, in particular within the house of global fee answers, which he says cling monumental attainable to pressure inclusion and regional commerce.

Mr. Ali expressed frustration that Ghana’s efforts over time to reach seamless global cell cash interoperability had now not been attained but.

According to him, in spite of years of conversations and pilot initiatives, the implementation of regulatory frameworks to fortify such projects stays gradual and unsure — leaving inner most venture building progress “trapped in a loop of warning and paperwork.”

“Government will have to now not be scared to take a look at new inventions inside cheap limits. The sandbox framework already lets in for experimentation below administration — so let’s transfer slightly sooner,” he stated. PAPSS may be one in all such commendable inventions which must be embraced throughout markets and in different kinds.

Cross-Border Payment Agenda will have to be inspired
Ali famous that whilst the federal government were championing global fee integration, the technology of laws to lead inner most venture building participation had develop into what he described as a “cat-and-mouse adventure.”

He defined that there gave the impression to be uncertainty over whether or not to transport ahead with global cell cash answers, in large part because of perceived dangers round financial backing flows, change charges, and attainable misuse which is comprehensible.

“It’s recently now not transparent whether or not the federal government desires to transport on with different global inventions or now not,” he lamented. “We desire a clearer scaling. The enabling atmosphere should permit progress inside a managed house to keep away from chaos — now not kill progress solely.”

He was once talking at a high-level panel dialogue at the theme “From Exclusion to Inclusion – DPI and Inclusive Development in Africa” all the way through a convention.

It was once organised through the Media Foundation for West Africa (MFWA) on “Journalism and Digital Public Infrastructure”,

BrijX: A managed Fintech experiment
Mr. Ali’s feedback come in opposition to the backdrop of the Bank of Ghana’s ongoing sandbox programme, which incorporates a pilot through Brij Fintech Ghana, a certified Payment Service Provider (PSP).

The BrijX pilot, which started reside trying out in February 2025, is a Business-to-Business (B2B) Currency Swap Platform designed to facilitate direct forex swaps between the Ghanaian cedi and the Nigerian naira.
The device removes the desire for foreign exchange markets or bodily fund transfers throughout borders — a leap forward that would considerably decrease remittance prices and beef up agreement potency between Ghana and Nigeria.

Approved in 2024, the pilot began with MoMo consumers and is predicted to make bigger to incorporate G-Money customers.

BrijX operates as a virtual market participating with banks, cell cash operators, and different authorized PSPs to permit peer-to-peer forex exchanges below regulated stipulations.

Safeguards to deal with integrity
To ensure that the pilot’s protection and integrity, the BoG has set transaction and participation limits, together with an outlined trying out duration.

The sandbox framework additionally comprises Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols, along shopper coverage measures, to mitigate attainable dangers.

These controls, the Bank says, are very important to figuring out how leading edge fintech merchandise behave below real-world stipulations prior to they’re rolled out on a countrywide or regional scale.

However, Mr. Ali believes that the life of such safeguards will have to give regulators extra self assurance to boost up entrepreneurship somewhat than gradual it down.

“The sandbox was once designed exactly to allow us to take a look at, be told, and develop safely. We can’t stay staying in take a look at mode endlessly,” he stated.

Call for a transparent regulatory scaling

Ali appealed to BoG to supply a transparent regulatory scaling for global cell cash transactions, particularly for the ones already piloted below the sandbox.

He stressed out that uncertainty discourages inner most venture building scaling and progress in a space the place Ghana has the prospective to guide the sub-region.

“If we get this proper, Ghana can develop into a fintech hub connecting West Africa via virtual bills,” he asserted.

“But that calls for daring selections from the central financial institution and the federal government, which I consider will occur in due time; with a bit of luck a lot quicker than later.”

He added that global cell cash is now not a futuristic thought, bringing up examples in East Africa the place regulatory progress has enabled platforms equivalent to M-Pesa to facilitate real-time regional transactions throughout Kenya, Tanzania, and Uganda.

Digital infrastructure and fiscal inclusion
The panel dialogue additionally touched on how Digital Public Infrastructure (DPI) — together with virtual id, bills, and data-sharing frameworks — can deepen inclusion and financial participation throughout Africa.
Ali emphasized that for Ghana and the sub-region to totally have the benefit of virtual public items, regulatory flexibility and public-private collaboration should be bolstered.

The highway forward
While Ghana’s fintech ecosystem matures, technology avid gamers are calling for a extra predictable coverage atmosphere that helps progress whilst managing dangers responsibly.

For Mr. Ali and different advocates, the financial management of pilots like BrijX and PAPSS may just mark the start of a brand new technology in regional monetary integration — person who connects investors, remittance senders, and virtual customers throughout borders in genuine time.

But for that to occur, he insists, the BoG should lead hopefully, now not cautiously, one thing he believes will occur in due time making an allowance for the various coverage instructions being rolled out through the regulator.

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DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made through Readers and Contributors in this platform don’t essentially constitute the perspectives or coverage of Multimedia Group Limited.