Mrs Patricia Obo-Nai, the Chief Executive Officer (CEO) of Telecel Ghana, has urged African governments, telecommunications companies, and financial service providers to work together to remove barriers hindering progress towards a cash-lite society and improved cross-border transactions. Speaking at the Africa Prosperity Dialogue 2024 in Aburi, Mrs Obo-Nai emphasized the need for joint ownership among regulatory bodies, telcos, banks, and fintechs to make cross-border mobile wallet interoperability a reality.
Her call resonated with discussions at the summit, which focused on developing prosperity in Africa through production, value addition, and trade. Mrs Obo-Nai highlighted the importance of financial technology solutions in mitigating fees and costs for consumers, fostering greater financial inclusion, and accessibility.
Sharing the story of a ‘Kayayei' from another African nation working in Ghana, Mrs Obo-Nai underscored the challenges in cross-border remittance and cumbersome cash transactions. She commended Ghana's progress in mobile finance but stressed the need to extend mobile money benefits globally and address data security and privacy concerns through robust regulations.
At the event's closing dinner, sponsored by Telcel Group, Mr Nicolas Bourg, the Group Chairman of Telecel, highlighted Telecel's pivotal role in Ghana's telecom industry. He emphasized Telecel's commitment to the country's appeal to foreign investors, following its recent acquisition securing a commanding 70% equity stake.
Mr Bourg expressed optimism that Telecel's infusion of resources would revitalize the telecom sector and stimulate economic growth. He outlined Telecel's vision to create a robust platform for mobile users across Africa, facilitating unrestricted trade and seamless exchange of money and services through innovative cash-lite approaches.
The Africa Prosperity Dialogue aimed to convert the objectives of the African Continental Free Trade Area (AfCFTA) into practical strategies. It brought together heads of states, industry leaders, civil society representatives, and academia to address historical trade impediments and create a unified African market, fostering economic progress. Telecel Ghana's proactive approach demonstrates its commitment to contributing significantly to both the telecom industry and the broader Ghanaian economy.