GITFIC signs MoU with Mowali for mutual cooperation

GITFiC and MOWALI SAS have signed a Memorandum of Understanding to facilitate the rollout of the Payment System to the attainment of their developmental goals in Africa.

The partnership will aim at demonstrating the regional bloc’s contributions to the successful rollout of the payment system and the consequent inclusion of national payment systems as a means of implementation

A statement copied to this portal on Monday said Mr Selasi Koffi Ackom, Chief Executive Officer of GITFIC signed for his outfit, while Awa Gueye Ba, Chief executive Officer of Mowali signed for his outfit.

“We are excited about embarking on this partnership with GITFiC, which will enable a platform to work together in ways to support the expansion of the mobile money payments across the continent,” Awa Gueye Ba – CEO of Mowali said.

Mowali SAS benefits from the reach of MTN Mobile Money and Orange Money, bringing together over 100 million mobile money accounts and mobile money operations in 22 of sub-Saharan Africa’s 46 markets. Mowali SAS enables interoperability between digital financial service providers beyond MTN and Orange operations and markets, to support the existing 338 million mobile money accounts in Africa.

"GITFiC will conduct a strategic planning exercise with MOWALI SAS to formulate and be the main implementing institution in rolling out the new Cross Border Payment System in phases to the benefit of financial inclusion across the continent. The result of this exercise will assist MOWALI SAS with the implementation of its operations and will help identify areas, where GITFIC can provide support," Mr Ackom of GITFiC said

The statement said GITFiC’s three thematic basic areas of services of Trade, Trade Finance, and Logistics were the fundamentals in articulating ways of enhancing inter Africa trade, regional integration, trade liberalization, trade policies, and practices of the African continent.

“GITFiC focuses on staying current with the business environment in Ghana and beyond using knowledge from domestic resources and the African Continent. This connection of knowledge of the local and continental business environments, from business executives, policymakers, and subject matter experts, is the right direction to exhilarate the business communities in Africa and also function as a major driving force moving Africa as a bloc in the global trade. GITFiC is indigenously Ghanaian.

“The Ghana International Trade & Finance Conference (GITFiC) and MOWALI SAS urge the public on the African Continent to be supportive and accommodating with both parties in the execution and implementation of this Memorandum of Understanding and the relevant road maps for the benefit of the general trading community on the Continent.

“A lasting solution to the age-old Cross Border Payment and Settlement System hindering Cross Border Trade is here. MOWALI is the solution and GITFiC will successfully help with the implementation in phases.”

The Ghana International Trade & Finance Conference (GITFiC) is a reputed Private Sector Initiative working with the Private Sector, Government sectors in the sub-region, and the Continent at large to drive the Continental Free Trade Agreement (CFTA), broader development agenda of the continent as defined in the A.U’s Agenda 2063, global trade issues at large, and other Trade Agreements.