GhIPSS Welcomes Kenyan Central Bank for Study Tour to Foster Collaboration in Payment Systems Development

The Ghana Interbank Payment and Settlement Systems Ltd (GhIPSS) recently welcomed a delegation from the Central Bank of Kenya for a study tour focused on exploring how Ghana has advanced its payment systems in recent years.

The seven-member team, led by Mr. Gerald Nyaoma, the Deputy Governor of the Central Bank of Kenya, visited Ghana between March 17th and 21st, 2025. Their visit included discussions with key officials at the Bank of Ghana and GhIPSS, where they learned about the country’s groundbreaking innovations in electronic payment systems.

GhIPSS, under the leadership of CEO Mr. Archie Hesse, has introduced several transformative payment platforms that have drastically reduced Ghana’s reliance on cash transactions. Some of these initiatives include the Near Real-Time Payments platform, the Ghana Instant Payment System (GIP), Mobile Money Interoperability (MMI), GhQR, and the GhanaPay mobile money service. These systems have made electronic transactions more accessible, efficient, and inclusive for Ghanaians, and they have played a pivotal role in enhancing financial inclusion and economic growth.

During the study tour, GhIPSS provided in-depth presentations on its experiences with payment interoperability, the workings of its instant payment system, the governance and ownership of payment platforms, and its collaboration with partner banks in rolling out and using the GhanaPay system. The discussions also explored the key factors contributing to the success of Ghana’s payment systems, such as regulatory frameworks, technological advancements, and the role of public-private partnerships.

Kenya, known for its leadership in mobile money with services like M-Pesa, already has a highly developed mobile money ecosystem. However, Ghana is seen as a pioneer in diversifying its payment platforms, offering valuable lessons for Kenya in terms of building more varied and inclusive payment systems. In particular, Ghana’s focus on payment interoperability has allowed for seamless transactions across different mobile networks and financial institutions, providing a model for Kenya to consider as it looks to expand its payment system offerings.

The visit was an opportunity for both countries to exchange ideas on how to improve their respective payment ecosystems and address the ever-changing needs of their populations. Ghana’s advances in interoperability, for example, could provide Kenya with useful insights into creating a more integrated financial system. By learning from Ghana’s experience, Kenya could improve the efficiency of its own payment platforms and make financial services even more accessible to people across the country.

The knowledge-sharing between Ghana and Kenya is expected to bring significant benefits to both nations, especially in terms of enhancing financial inclusion and fostering economic development. As digital payment systems continue to evolve, both countries are recognizing the importance of adopting best practices to ensure that more citizens can access secure and affordable financial services. For Ghana, this exchange is an opportunity to reaffirm its position as a leader in payment systems innovation in Africa, while Kenya stands to gain from Ghana’s experience in diversifying payment platforms and driving interoperability.

Mr. Archie Hesse, CEO of GhIPSS, expressed his excitement about the partnership: “It has been a pleasure to host the Kenyan delegation and engage in fruitful discussions about the future of payment systems. This collaboration between Ghana and Kenya presents a unique opportunity to learn from one another and explore how we can create more robust, diversified, and interoperable payment ecosystems to better serve our people.”

The insights gained during this study tour will likely influence the future development of payment systems in both Ghana and Kenya, helping each country remain competitive and adaptable in the rapidly evolving digital economy. As both nations continue to modernize their financial sectors, the lessons shared during this exchange will help them meet the growing demands of their populations while contributing to the broader digital transformation taking place across Africa.

In conclusion, the study tour marked a significant milestone in strengthening the collaboration between Ghana and Kenya in the field of payment systems development. By fostering such partnerships, both countries are poised to build more inclusive, innovative, and efficient financial ecosystems, advancing their economic growth and digital financial inclusion in the process.