African Governments Must Invest in Fintech Ecosystems to Drive Payment Interoperability – PAPSS Deputy CEO
African governments must invest in fintech ecosystems and establish regional technology hubs to accelerate payment interoperability across the continent, according to John Bosco, Deputy CEO of the Pan-African Payment and Settlement System (PAPSS).
Speaking on the second day of the African Prosperity Dialogue (APD) 2025, Bosco argued that the creation of “Silicon Valleys” across Africa would support the development of a robust fintech sector, enabling seamless cross-border transactions.
“African governments can promote and incubate the fintech ecosystem by powering Silicon Valleys across Africa to achieve interoperability,” he said. He added that a continent-wide sovereign digital payment infrastructure, facilitated by PAPSS, could serve as the backbone for a more integrated financial system.
“To truly connect Africa, we need to create one market through the AfCFTA. This can be achieved by improving how we pay each other,” Bosco remarked, highlighting the role of digital payments in fostering intra-African trade.
The Africa Prosperity Dialogues bring together business leaders, policymakers, and key stakeholders to advance the continent’s economic integration agenda.
The discussions aim to accelerate the implementation of trade initiatives under the African Continental Free Trade Area (AfCFTA) and shape policies that support Africa’s transition to a digital-first economy.
With intra-African trade still hampered by fragmented payment systems, PAPSS has been positioned as a critical enabler of financial connectivity, reducing reliance on foreign intermediaries and lowering transaction costs.
