In a landmark move to streamline cross-border transactions and accelerate Africa’s digital economy, the National Bank of Rwanda and the Bank of Ghana have launched Africa’s Next-Gen Digital Payment Infrastructure. 

The initiative, developed in partnership with the Global Finance and Technology Network (GFTN), aims to revolutionize the continent’s financial ecosystem by reducing transaction costs and improving efficiency.

Announced at the Inclusive Fintech Forum 2025 on February 25, the initiative underscores Africa’s commitment to leveraging technology for economic transformation. The project, previously known as Project 54, was conceived through discussions at global financial summits, including the 3i Africa Summit in Accra, the Zurich Point Zero Forum, and the Singapore FinTech Festival.

Former Rwandan Central Bank Governor John Rwangombwa, who led the launch, emphasized that financial regulators and institutions must act swiftly to integrate these innovations into Africa’s financial landscape. “This initiative is not just about technology—it’s about economic empowerment, financial resilience, and building an infrastructure that truly serves businesses and individuals,” he stated.

With Africa’s fintech sector projected to generate $40 billion in revenue by 2028, this initiative marks a crucial step toward creating a unified digital financial system. 

Bank of Ghana Governor Johnson Asiama highlighted its potential to strengthen African capital markets, foster entrepreneurship—especially for SMEs—and ensure greater financial accessibility.

"The pursuit of a safe, affordable and efficient cross-border regional payment architecture, boosted by a license passporting framework represents another significant ladder of progress," Asiama noted.

By aligning with global financial standards, Africa’s Next-Gen Digital Payment Infrastructure aims to enhance the continent’s competitiveness, strengthen financial networks, and drive inclusive economic growth.

“As stewards of Africa’s financial system, we must break down barriers, empower businesses, and create inclusive opportunities for all,” Rwangombwa affirmed. With the collaboration of regulators, fintech leaders, and investors, Africa is poised to become a global leader in digital payments and financial innovation.