Access Bank Ghana MD Calls for Stronger Financial Platforms to Unlock Africa’s Economic Potential

The Managing Director of Access Bank Ghana, Pearl Nkrumah, has renewed calls for African countries to prioritise the development of strong financial platforms, deeper regional partnerships and efficient cross-border payment systems as a pathway to unlocking the continent’s vast but largely untapped economic potential.

Speaking at the Africa Prosperity Dialogues (APD) 2026, Ms. Nkrumah argued that while Africa is not short of capital, weak financial infrastructure and fragmented payment systems continue to limit the continent’s ability to attract investment and convert resources into sustainable economic growth.

She stressed that access to finance alone cannot drive development unless countries deliberately create enabling environments that allow capital to flow seamlessly into productive sectors such as trade, manufacturing, agribusiness and value-added services.

“Africa must move beyond just mobilising funds to building functional systems that support how money is deployed, tracked and utilised across borders,” she noted.

Ms. Nkrumah said Ghana and several African economies are already exploring blended finance models, combining public funding, private capital and development finance, often supported by strategic partners within Africa and beyond, including China. However, she maintained that the real challenge lies in aligning these financing arrangements with efficient platforms that connect production, trade and payments.

She identified fragmentation in Africa’s financial and payment systems as a major obstacle to intra-African trade, despite the opportunities presented by the African Continental Free Trade Area (AfCFTA). According to her, without seamless payment and settlement systems, businesses—particularly small and medium-sized enterprises—struggle to scale beyond national borders.

Addressing the challenges faced by women-led businesses, Ms. Nkrumah said many female entrepreneurs remain locked out of regional value chains due to limited access to finance, training and cross-border market platforms. She explained that with targeted support, women-owned SMEs could scale into competitive suppliers and procurement partners across Africa.

“When African businesses collaborate across borders, markets expand and capital follows,” she said, adding that inclusive financial systems are critical to ensuring women and young entrepreneurs benefit from continental trade opportunities.

She further noted that despite growing interest in Africa from global investors, avenues for raising both domestic and international capital remain narrow, underscoring the need for stronger partnerships between governments, financial institutions and the private sector.

Ms. Nkrumah said banks such as Access Bank are working closely with central banks and other financial institutions to strengthen governance frameworks, develop innovative financial products and build digital marketplaces that support trade, investment and value chain financing.

On cross-border payments, she acknowledged progress in regional interoperability but described settlement as the most persistent challenge, largely due to Africa’s heavy reliance on the US dollar. She explained that this dependence increases transaction costs, exposes African economies to foreign exchange risks and slows the movement of capital across borders.

She pointed to ongoing continental discussions on the adoption of a single African currency, including the proposed ECO, describing such initiatives as critical to deepening regional integration and easing trade and payment flows.

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“As a bank operating in 14 African countries, a customer can walk into any Access Bank branch, deposit Ghana cedis and have the funds received in naira or other African currencies,” Ms. Nkrumah said. “But behind the scenes, settlement still relies on the US dollar, and that remains a major structural challenge.”

While commending efforts by financial institutions to build cross-border payment platforms, she cautioned that Africa risks losing momentum if discussions are not translated into concrete action.

She therefore urged policymakers, regional bodies and financial institutions to accelerate reforms aimed at improving settlement systems and advancing the vision of a single, integrated African financial architecture.

“This is about moving from conversations to implementation,” she said, adding that collective action remains essential to building a resilient financial system capable of unlocking Africa’s wealth and driving long-term economic transformation.

 

Source: Isaac Kofi Dzokpo