Mahama Supports Seamless Payments, Partnership with Singapore
The Mahama supports seamless payments announcement came from President John Dramani Mahama. Ghana and Singapore will partner to advance cross-border payment systems. This agreement, in fact, aims to boost trade under the African Continental Free Trade Area (AfCFTA). The two leaders reached the agreement during bilateral talks. They met with Singapore’s President Tharman Shanmugaratnam. The talks occurred as part of Ghana’s state visit to the Asian nation. As a result, Mahama supports seamless payments across the continent. He believes they are crucial for regional trade.
He gave a speech on Thursday, August 28, 2025. In his speech, President Mahama emphasized that the free movement of goods and people under AfCFTA needs seamless financial transactions. Ghana will, therefore, back solutions like the Pan-African Payment and Settlement System (PAPSS). PAPSS, for instance, allows real-time, cost-effective transactions. In other words, it reduces dependence on foreign currencies. “It is not enough to allow free movement of people and goods. Cross-border payments must also be seamless, and Ghana will support continent-wide solutions like PAPSS to expand payment systems,” he stated.
Furthermore, the two leaders reaffirmed cooperation in several key areas. These included technology, finance, agribusiness, and green growth. President Mahama highlighted Ghana’s “Resetting Ghana Agenda” and “24-Hour Economy programme.” These plans aim to develop over two million hectares along the Volta Economic Corridor. The land will become agro-processing parks and irrigated lands. Simultaneously, the President noted Ghana’s economy is stabilizing. Inflation is now about 13%. The government targets single-digit inflation by year-end. This is happening because the government prioritizes expenditure and fiscal discipline.
Additionally, President Tharman expressed confidence in Ghana’s reforms. He described the country as a gateway for investment under AfCFTA. The partnership also touched on carbon markets. In fact, Singapore is the first Asian country to sign an implementation agreement with Ghana. This agreement paves the way for new, low-carbon investment opportunities. Overall, President Mahama thanked the Government and people of Singapore. He expressed gratitude for the warm reception. He also said both nations are committed to turning the agreements into concrete projects, jobs, and shared prosperity.
