Financial ServicesNews

Interoperability in Africa must be rolled out in phases, says Ursula

Mobile money interoperability enables traders and customers to make transfers between mobile money accounts held by different mobile money providers

The Minister of Communication and Digitalisation, Ursula Owusu-Ekuful is advocating for the roll out of interoperability in phases following its adoption over the weekend at the 37th Ordinary Session of the Assembly of Heads of State of the African Union (AU).

Mobile money interoperability enables traders and customers to make transfers between mobile money accounts held by different mobile money providers.

Interoperability reduces the cost of initiating transactions across networks, as customers no longer need the services of a third-party payment provider to initiate transfers across networks.

Owusu-Ekuful wants three major telecommunication firms on the continent to take up the challenge and spearhead the process.

“So the geopolitics doesn’t matter, once there is a will and the desire to do it, and we get our agencies and sectors talking together, we can easily do this interoperability in the continent if only three companies start it,” Owusu-Ekuful said on the Asaase Breakfast Show on Monday (19 February).

“AU decisions being translated into actionable policies are also tricky, but let the countries decide that we need this, and for this, the ministers of telecommunication and ICT and regulators need to be in the forefront ” he told host Kwaku Nhyira-Addo.

“We sit these companies down and say, we need this for integration and to facilitate trade, let’s see how we work towards it. Do you know some of the settlements that needs to be done, have to be done in Europe, what sense does it make?” she added.

Listen to Ursula Owusu-Ekuful in the attached audio clip below: 

Reporting by Fred Dzakpata in Accra

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