Ekow Sam: AU must establish “Africa Exchange” to drive trade
His comment is in reference to assertions by Stephen Blewett, chief executive officer of MTN Ghana, that African fintech ecosystem is key in driving the digital revolution across the African continent
A value-added service consultant, Ekow Sam has suggested to the Africa Union (AU) to establish an Africa Exchange to enable central banks to drive intra-Africa trade.
His comment is in reference to assertions by Stephen Blewett, chief executive officer of MTN Ghana, that African fintech ecosystem is key in driving the digital revolution across the African continent.
Speaking to Benjamin Offei-Addo on the Asaase Breakfast Show on Friday (17 May), Sam said establishing the Africa Exchange is crucial to increasing taxation.
“There is a need for the AU to set up what we call the Africa Exchange if all African central banks will come together and form that exchange to make everybody plug in and easily interconnect with a flat fee.
“If you are able to do that and get the highest number of patronages, then we can talk about increasing taxation because at this moment you are having a chicken and egg [situation], which one do you want?”
“So I will say that first and foremost if we want the trade to happen, let create that cohesion and let fintech connect to the central hub…but all take the needed policy structures and investment,” he said.
Listen to Ekow Sam in the attached audio clip below:
Reporting by Fred Dzakpata in Accra
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