Afreximbank’s digital platforms, together with the MANSA and Pan-Africa Fee and Settlement Programs (PAPSS), are taking part in a pivotal function in Ghana’s financial improvement and fostering intra-African commerce, in response to Mr. Gabriel Edgal, Chairman and CEO of Oakwood Inexperienced Africa.
Mr. Edgal’s remarks had been made throughout a aspect occasion held on the Accra Worldwide Convention Centre, coinciding with the launch of the Africa Commerce Gateway as a part of Afreximbank’s Annual Conferences 2023 (AAM2023).
Highlighting the profound affect of those platforms, Mr. Edgal emphasised the comfort and benefits of the MANSA platform. Designed as a centralised supply of main knowledge for Buyer Due Diligence (CDD) and Know Your Buyer (KYC) checks, MANSA permits seamless commerce between African entities, together with monetary establishments, corporates and SMEs. This streamlined course of eliminates the necessity for extra due diligence, thereby boosting companies and considerably contributing to Ghana’s financial system. Mr. Edgal urged Africans to mirror on the challenges hindering intra-Africa commerce and shift their focus towards maximising the huge potential of African markets.
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Addressing the significance of PAPSS, Mr. Edgal emphasised the platform’s significance for Ghana’s improvement. By permitting companies in Ghana to commerce immediately with counterparts throughout Africa with out foreign money conversion to the greenback, PAPSS reduces demand for overseas foreign money. Consequently, this may result in decrease trade charges and strengthened African currencies, making imports cheaper and mitigating the potential for imported inflation. Mr. Edgal outlined the optimistic affect these developments can have on native economies.
The aspect occasion attracted outstanding figures from Ghana’s enterprise sector and different West African international locations. Dr. Ernest Addison, Governor of the Central Financial institution of Ghana; Mrs. Kanayo Awani, Govt Vice President of Intra-African Commerce Financial institution at Afreximbank; Maureen Mba, Head of MANSA Digital Initiative; Mr. Mike Ogbalu, CEO of PAPSS; Niama El Bassunie, CEO of WaysToCap and Operator of Africa Commerce Trade (ATEX); Lizanne Case, Head of TRADAR; Cynthia Gnassingbe, Senior Advisor for Personal Sector Engagements at AfCFTA; Mr. Daniel McKorley, Chairman of McDan Group; and Mr. Daniel Addo, CEO of Consolidated Financial institution Ghana, had been among the many notable audio system who attended the occasion.
The occasion underscored the important function performed by Africa’s commerce digital platforms in driving Ghana’s financial improvement. Mr. Gabriel Edgal and different distinguished audio system highlighted the immense alternatives and advantages these platforms convey to intra-Africa commerce. As Ghana and different African nations embrace these transformative initiatives, they’re poised to unlock the complete potential of commerce inside the continent, stimulate financial progress, and contribute to the journey of constructing prosperity for all Africans.