By: Kanto
Kai Okanta
AfricaNenda Foundation Chief
Executive Officer Dr. Robert Ochola has called for the development of
interoperable instant payment systems across Africa as a critical foundation
for accelerating industrial transformation and strengthening intra-African trade.
Speaking at the Ministerial
Policy Dialogue on “Financing Africa’s Industrial Transformation in a Changing
Global Environment” held in Abidjan, Côte d’Ivoire, Dr. Ochola emphasised that
Africa’s industrial growth agenda must pay greater attention to how money moves
across the continent.
He argued that efficient,
inclusive and scalable payment infrastructure will be essential for enabling
businesses to participate fully in the African Continental Free Trade Area
(AfCFTA) and supporting the expansion of cross-border commerce.
Dr. Ochola’s recommendations
to the African Union focused on the need for instant payment systems that are
interoperable across countries and capable of handling the scale and volume of
transactions expected from increased intra-African trade.
He noted that while
industrial transformation discussions often focus on factories, energy and
investment capital, the ability to move money seamlessly remains a key enabler
of economic growth and regional integration.
The Ministerial Policy
Dialogue was organised as part of the 9th Specialised Technical Committee (STC)
Meeting on Finance, Monetary Affairs, Economic Planning and Integration,
alongside the 5th STC on Trade, Tourism, Industry and Minerals.
