Author: Wycliffe Nyamasege

  • Zelensky secures $2.84 billion from the UK after tense meeting with Trump

    Zelensky secures $2.84 billion from the UK after tense meeting with Trump

    In London on Saturday, Zelensky and British Prime Minister Keir Starmer signed a loan agreement worth £2.26 billion (approximately $2.84 billion USD) to bolster Ukraine’s defense capabilities amid the ongoing war with Russia.

    During their meeting at Downing Street, Starmer reiterated Britain’s “unwavering determination” to support Ukraine, emphasizing that the country has the “full backing” of the United Kingdom.

    The loan, which will be repaid through profits from frozen Russian assets, is intended to enhance Ukraine’s weapons production capacity, helping the country defend itself against continued Russian aggression.

    Zelensky expressed his gratitude for the support, calling the meeting with Starmer “meaningful and warm.”

    He also praised the UK’s consistent backing since the start of the conflict, confirming that the funds would be directed towards the production of weapons in Ukraine.

    “This is true justice – the one who started the war must be the one to pay,” Zelensky stated.

    The loan agreement follows months of discussions and was first announced in October, with the funds set to bolster Ukraine’s frontline military equipment.

    Zelensky’s visit also comes ahead of a major defense summit in London, where European leaders will discuss a peace plan for Ukraine, with Starmer suggesting that such a deal would require U.S. involvement.

    Zelensky’s successful negotiation with the UK contrasts sharply with his tense meeting with U.S. President Donald Trump just a day earlier.

    On Friday, Zelensky’s visit to the White House quickly descended into discord when U.S. Vice President JD Vance demanded that Zelensky be more thankful for America’s support and pressured him to consider a ceasefire with Russia.

    The exchange escalated into a shouting match, with Zelensky being asked to leave the White House early.

    Trump, who had hoped to secure a minerals deal with Ukraine during the meeting, accused Zelensky of “gambling with World War Three” by not agreeing to Washington’s terms for peace talks.

    Tensions reached a boiling point when Zelensky warned Trump that appeasing Russia would only lead to more conflict, not peace, in Europe. The meeting ended without a signed agreement, leaving the planned minerals deal unfinished, with Trump turning to social media to write, “Come back when you’re ready for peace.”

    In London on Saturday, March 1, 2025, Zelensky and British Prime Minister Keir Starmer signed a loan agreement worth £2.26 billion (approximately $2.84 billion USD) to bolster Ukraine’s defense capabilities amid the ongoing war with Russia.
  • UK minister retracts remarks falsely linking Rwanda to ADF killings

    UK minister retracts remarks falsely linking Rwanda to ADF killings

    During a parliamentary session on February 26, Lord Collins had claimed that Rwanda’s Foreign Minister Olivier Nduhungirehe had “actively denied and refuted” accusations of Rwanda’s involvement with the ADF during their meeting in Geneva.

    The British minister, however, later admitted that the remarks were false in a private message to Rwanda’s Foreign Minister and pledged to send a letter to the House of Lords to correct the record.

    The retraction follows strong criticism from Rwanda’s Ministry of Foreign Affairs and International Cooperation, which summoned the UK High Commissioner in Kigali over the remarks.

    In the meeting with the UK envoy, Rwanda dismissed the statement as false, stating that the ADF was never discussed in the meeting in Geneva. The terrorist group recently killed 70 people in a church in Lubero, North Kivu in eastern DR Congo.

    Rwanda condemned the comments as misleading and irresponsible, accusing the UK minister of fueling misinformation and undermining ongoing peace efforts in the region.

    “It is dangerous and irresponsible for the UK Minister for Africa to make these comments that mislead the public, fuel the DRC propaganda machine and entertain conspiracy theories, as well as undermine the ongoing African-led peace process,” the ministry said in a statement on Saturday.

    The government further rejected any suggestion of ties to the ADF, emphasizing that Rwanda is actively combating terrorism alongside Mozambican forces in Cabo Delgado.

    While Lord Collins has acknowledged the mistake, Rwanda insists that a private message and a letter to the House of Lords are insufficient.

    The Rwandan government has formally requested a public correction and an official apology from the UK government.

    Rwanda’s ties with the UK have faced a strain following Britain’s move to push for sanctions against Kigali. The measures stem from allegations that Rwanda is involved in the ongoing conflict in the Democratic Republic of Congo, where M23 rebels are battling the Congolese army.

    Rwanda has repeatedly denied the claims, insisting that the M23 rebels are Congolese citizens fighting against decades of persecution and marginalisation of Kinyarwanda-speaking communities. Rwanda has also accused the international community of ignoring the root causes of the conflict, thereby hampering efforts to fully resolve it.

    The UK Minister for Africa, Lord Collins of Highbury, has retracted his remarks that falsely linked Rwanda to the Allied Democratic Forces (ADF), a Ugandan terrorist group operating in the Democratic Republic of Congo (DRC).
  • Senior US diplomat in South Africa resigns amid Pretoria-Washington tensions

    Senior US diplomat in South Africa resigns amid Pretoria-Washington tensions

    Brown, who arrived in South Africa in August 2024, formally assumed her role as the senior US diplomat in the country in January 2025. Her departure comes amid escalating tensions between Pretoria and Washington over key policy differences.

    Brown’s resignation follows the earlier departure of former US Ambassador to South Africa, Reuben Brigety, who stepped down in January as part of the standard transition process under the newly inaugurated US President Donald Trump.

    The Trump administration is yet to appoint a new ambassador to replace Brigety.

    Brown’s resignation has fueled speculation about diplomatic strains between the two nations. The US and South Africa have clashed on several policy issues, including Pretoria’s stance on Russia’s war in Ukraine, its growing ties with China, and most recently, its controversial land reform policies.

    The South African government has been pursuing land redistribution efforts to address historical injustices related to apartheid-era land dispossession. The proposed reforms include the expropriation of land without compensation in certain cases, a policy that has raised concerns in Washington.

    The US government has previously expressed reservations about the potential economic repercussions, particularly regarding foreign investment and property rights. Pretoria, however, maintains that the policy is necessary to correct imbalances in land ownership and promote economic inclusivity.

    President Donald Trump signed an executive order on February 7, 2025, suspending all US aid to South Africa in response to the land expropriation law, which the Trump administration claims discriminates against white farmers.

    The suspension has had immediate and severe consequences, particularly for health programs. The US had been funding nearly 20% of South Africa’s $2.3 billion annual HIV/AIDS program through the President’s Emergency Plan for AIDS Relief (PEPFAR).

    The abrupt withdrawal of this support has led to the closure of health clinics and nutrition programs, with experts warning of a potential increase in mortality rates and instability.

    Brown, who arrived in South Africa in August 2024, formally assumed her role as the senior US diplomat in the country in January 2025. Her departure comes amid escalating tensions between Pretoria and Washington over key policy differences.
  • How IremboPay is streamlining business payments and financial management

    How IremboPay is streamlining business payments and financial management

    The payment gateway was among the products showcased during the Inclusive FinTech Forum (IFF), held in Rwanda from February 24 to 26, 2025.

    The three-day forum, opened by President Paul Kagame, brought together global leaders, entrepreneurs, and innovators, providing a platform to explore solutions for the continent’s economic challenges through digital finance.

    {{How IremboPay works
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    IremboPay simplifies electronic payment collection for businesses of all sizes, from large corporations to small enterprises, significantly boosting operational efficiency. The platform was developed by Irembo, a leading tech company in Rwanda renowned for its role in transforming government services digitally through its IremboGov platform.

    By integrating diverse payment methods into a single, secure, and intuitive platform, IremboPay eliminates the need for time-consuming manual reconciliation, reducing financial complexities and minimising errors.

    The platform processes millions of transactions annually, empowering businesses to save valuable time and enhance their overall financial management.

    IremboPay’s Business Lead, Vanitah Gatana, explained how the platform simplifies financial management and drives business growth.

    “Time spent on reconciliation and lack of revenue visibility can significantly slow down a business,” Gatana stated.

    “Our system integrates all payment sources, giving business owners a clear picture of their income and facilitating informed growth decisions.”

    IremboPay offers several key benefits to businesses, including efficient payment processing that ensures fast and secure transactions and reduces administrative workload.

    The platform employs advanced security measures such as encryption and fraud prevention to ensure safety and confidentiality.

    IremboPay also provides multi-currency convenience, supporting Rwandan Francs (RWF), US Dollars (USD), Euros (EUR), and British Pounds (GBP), facilitating international trade.

    Additionally, it features multi-language accessibility, available in English, French, and Kinyarwanda, making it more user-friendly for diverse businesses. The system also delivers user-friendly financial reports with valuable insights to inform strategic business decisions and performance tracking.

    One of IremboPay’s standout features is its ability to integrate effortlessly with existing accounting and business management systems. Real-time transaction tracking allows businesses to monitor finances with ease, reducing manual bookkeeping efforts.

    Looking ahead, IremboPay is set to integrate with Rwanda Revenue Authority’s Electronic Billing Machine (EBM) system, enabling businesses to automatically generate official invoices upon receiving payments.

    IremboPay caters to a wide range of industries, including tourism and hospitality, where it simplifies check-ins and payments through its Payment Links solution. In education, it streamlines fee collection for schools and universities.

    In the transport sector, it enables real-time payment processing for transport services. Manufacturing businesses can use it to efficiently manage transactions, while software and IT companies benefit from its integrated digital payment solutions.

    Businesses interested in adopting IremboPay can start by visiting the [IremboPay.com->http://IremboPay.com] website or contacting the sales team. After an initial consultation to discuss specific business needs, a customized payment solution is developed.

    The setup process is quick and easy, allowing for seamless integration with existing systems. Businesses also receive continuous support to ensure smooth financial operations.

    With its user-friendly interface, secure transactions, and comprehensive reporting, IremboPay is streamlining digital payments in Rwanda. As more businesses embrace digital transformation, IremboPay stands out as an essential tool for growth, efficiency, and financial clarity.

    IremboPay was among the products showcased during the Inclusive FinTech Forum (IFF), held in Rwanda from February 24 to 26, 2025.
    At IremboPay booth, entrepreneurs learned how IremboPay provides automated reconciliations, real-time reporting, and multi-channel payment capabilities to help them operate more efficiently.
    Whether through API integration or Payment Links solutions, IremboPay ensures businesses can process transactions with ease.
    An IremboPay representative explains to IFF delegates how the platform simplifies payment.
     IremboPay is a digital payment solution designed to simplify financial management for businesses.
  • Ndayishimiye begs Tshisekedi for more cash as Burundi deploys additional troops to DRC

    Ndayishimiye begs Tshisekedi for more cash as Burundi deploys additional troops to DRC

    Despite calls for peace and regional cooperation, Burundi escalated its involvement in the DRC conflict on February 23, 2025, by deploying additional troops to strategic areas in South Kivu Province.

    The Ruzizi Plain, a strategic valley forming a natural border between the DRC, Burundi, and Rwanda, is one of the areas receiving additional military presence. The DRC anticipates that the presence of Burundian forces in this region will help push back the M23 rebels, who continue to control large parts of the Kivus.

    Additionally, Burundi sent reinforcements to Sange town in Uvira Territory, with the installation of five 107mm guns to strengthen the defenses of the region.

    Vugizo, a border area on the Burundi side, also saw an influx of Burundian artillery soldiers, equipped with surveillance drones and 120mm and 122mm guns.

    While Burundi’s troop deployment continued, President Evariste Ndayishimiye secretly visited Kinshasa to meet with DRC President Felix Tshisekedi. The meeting, held the same day as the reinforcements, focused on the worsening security situation and troop compensation.

    Sources close to Tshisekedi’s inner circle disclosed that Ndayishimiye’s major concern was securing higher payments for the 15,000 Burundian soldiers deployed in the DRC.

    The troops have been engaged in combat under a military agreement between the two nations, formalized in August 2023. According to the deal’s terms, Tshisekedi pays Ndayishimiye $5,000 per soldier per month, though the soldiers themselves receive far less—$70 for junior ranks and $100 for officers.

    President Tshisekedi, however, rejected Ndayishimiye’s request to raise the monthly payments, pointing to the ongoing challenges faced by the DRC’s coalition forces in countering the M23 rebels.

    Meanwhile, Tshisekedi has offered financial incentives ranging from $400 to $1,000 to members of the FDLR, a militia made up of individuals responsible for the 1994 Genocide against the Tutsi in Rwanda, and other armed factions operating in the DRC. He has also promised over USD 120 per combatant in Walikale and Masisi territories to motivate them to intensify their involvement in the conflict.

    Burundi’s involvement in the DRC conflict has been a subject of controversy since its inception.

    The decision to deploy troops was made unilaterally by Ndayishimiye, with critics arguing that it is motivated by personal and ideological interests. Ndayishimiye shares a deep anti-Tutsi sentiment with Tshisekedi and the FDLR.

    This ideological alignment has raised concerns among international observers, as both leaders continue to back the FDLR, a group widely criticized for its role in the region’s instability.

    In contrast to the military support from Burundi, the DRC has struggled to gain assistance from other African nations. Recently, Tshisekedi sought military aid from Mali, Senegal, and Chad, but the nations declined to get involved in the ongoing conflict.

    The situation has placed a significant strain on regional peace efforts. At the February 8 summit of the East African Community (EAC) and Southern African Development Community (SADC), heads of state called for an immediate ceasefire and the resumption of dialogue between warring factions.

    However, Burundi’s continued military presence undermines these efforts, complicating the pursuit of a peaceful resolution to the crisis.

    While Burundi’s troop deployment continued, President Evariste Ndayishimiye secretly visited Kinshasa to meet with DRC President Felix Tshisekedi. The meeting, held the same day as the reinforcements, focused on the worsening security situation and troop compensation.
  • DRC crisis: Rwanda urges EU to support regional peace efforts, rejects politicised narrative

    DRC crisis: Rwanda urges EU to support regional peace efforts, rejects politicised narrative

    This was the key message delivered by Gen. (Rtd) James Kabarebe, Minister of State for Foreign Affairs in Charge of Regional Cooperation, during a meeting with EU Special Envoy for the Great Lakes region, Ambassador Johan Borgstam, in Kigali on Thursday, February 27, 2025.

    The discussions, described as frank and productive, focused on Rwanda’s security concerns and the escalating tensions in eastern DRC, which recently saw the AFC/M23 rebel group capture Bukavu and Goma cities.

    Kabarebe dismissed comparisons between the conflict in DRC and the war in Ukraine, calling them politically motivated and misleading. He stressed that such narratives only serve to distract from the real causes of instability in the region.

    “The situation in Eastern the Democratic Republic of Congo (DRC) is not comparable to the conflict in Ukraine. Any attempt to draw such comparisons is politically motivated and serves only to divert from the real issues at hand,” a statement from the Ministry of Foreign Affairs reads in part.

    Rwanda pointed to the presence of over 200 armed groups in eastern DRC, including the FDLR, a militia composed of individuals responsible for the 1994 Genocide against the Tutsi. Kigali insists that the group, sanctioned by the UN and the US, remains a major threat to regional security and must be neutralised.

    The Rwandan government also raised alarm over what it called an “existential threat” at its borders, citing an international military coalition composed of the FDLR, Burundian forces, Wazalendo ethnic militias, and European mercenaries.

    The minister made it clear that Rwanda expects firm security guarantees, including the withdrawal of all foreign forces near its borders and a lasting resolution to the M23 issue, which stems from decades of marginalisation and persecution of Kinyarwanda-speaking Congolese.

    In addition, Rwanda criticised the DRC’s approach to the crisis, accusing its government of using international sanctions as a smokescreen to cover up its own governance failures, human rights violations, and corruption.

    Kigali argued that punitive measures imposed on Rwanda do not contribute to peace but rather undermine African-led diplomatic efforts.

    Kabarebe also took issue with what he described as the EU’s selective application of sovereignty and territorial integrity principles. He noted that Rwanda has faced multiple border violations since 2018, prompting defensive measures that will remain in place until its security concerns are fully addressed.

    The meeting ended with Rwanda urging the EU to take a more constructive role in resolving the crisis, focusing on facts rather than political interests. Kigali reiterated its commitment to regional peace and called on international partners to support efforts aimed at achieving long-term stability in the Great Lakes region.

    “Rwanda encourages EU member states to participate positively in regional peace efforts and avoid mixing politics in matters of peace and security,” the statement added.

    The message was delivered by Gen. (Rtd) James Kabarebe, Minister of State for Foreign Affairs in Charge of Regional Cooperation, during a meeting with EU Special Envoy for the Great Lakes region, Ambassador Johan Borgstam, in Kigali on Thursday, February 27, 2025.
  • M23 says two people responsible for Bukavu rally attack arrested

    M23 says two people responsible for Bukavu rally attack arrested

    Several residents lost their lives, and others sustained injuries after explosives hit a meeting organized by the rebel alliance.

    The gathering, led by the rebel alliance leader Corneille Nangaa, had drawn a large crowd before chaos erupted following the blasts, forcing attendees to flee in panic. The exact number of casualties is yet to be disclosed.

    In a statement, AFC/M23 condemned the attack, calling it a “cowardly and barbaric act” and accusing President Felix Tshisekedi of orchestrating it.

    “After their débâcle on the military operations front, the forces coalesced under the Kinshasa regime have attacked the people of Bukavu following our popular meeting,” the group’s spokesperson, Lawrence Kanyuka, said in a statement offering condolences to the families of the victims.

    The group further stated that the attack was part of a broader plan to eliminate civilians.

    “The order to massacre the populations of Bukavu was given by Tshisekedi Tshilombo following a meeting with his last governor expelled from Bukavu,” the statement read.

    AFC/M23 has called on regional and international bodies, including the European Union, the African Union, the East African Community, and the South African Development Community (SADC), to “take full measure of the consequences of this heinous act.”

    “We call on the international community, the European Union (EU), the African Union, the EAC, and SADC to fully acknowledge the consequences of this despicable act committed by the Kinshasa regime,” Kanyuka stated, further assuring that the group is “committed to taking all necessary measures to ensure security and eliminate any future threats.”

    The rally took place weeks after AFC/M23 seized Bukavu and Goma, solidifying its control over parts of eastern Congo amid ongoing battles with government forces.

    The AFC/M23 rebel group accuses the Congolese government of ethnic persecution against Kinyarwanda-speaking Congolese in the east, causing hundreds of thousands of residents to flee to neighbouring countries.

    During Thursday’s event, Nangaa vowed to push further south, promising to take Uvira within two days and appoint a new leadership structure in South Kivu, mirroring what the group did in North Kivu after capturing Goma.

    “I promise you that in two days, we will be at Uvira to restore security. In Bukavu, we will appoint the new governor, two vice-governors, the mayor of the city, three mayors, and territorial administrators,” he declared.

    The gathering, led by AFC leader Corneille Nangaa, had drawn a large crowd before chaos erupted following the blasts, forcing attendees to flee in panic.
  • Several Bukavu residents killed after attack at AFC/M23 leaders’ meeting

    Several Bukavu residents killed after attack at AFC/M23 leaders’ meeting

    The meeting, addressed by Corneille Nangaa, the leader of the political-military coalition, had kicked off well, with a mammoth crowd in attendance. However, all hell broke loose after the explosion of bombs, forcing the residents, who had been in a cheerful mood, singing songs, to scamper for safety.

    The exact number of casualties is yet to be disclosed.

    Bertrand Bisimwa, the president of the M23 rebel group, accused President Felix Tshisekedi’s government of targeting civilians while also seeking to eliminate Nangaa.

    “Mr. Tshisekedi’s regime has just carried out the threat that has been circulating since yesterday on social networks, targeting the civilian population who would participate in the AFC/M23 meeting. The day was planned, according to the authors of the threat, for the physical elimination of the Coordinator Corneille Nangaa,” Bisimwa said in a statement shared on social media condemning the attack.

    “This Thursday, February 27, 2025, a few minutes after the meeting, the forces of evil dropped bombs on the civilian population gathered at the meeting site, causing several deaths and injuries—all innocent civilians. We condemn this barbarity of the regime in place, which has reached an unacceptable level.”

    The M23 leader said the attacks had been widespread in recent days, affecting several villages despite a ceasefire.

    “For several days, the Kinshasa regime has been dropping bombs, using drones, on densely populated villages in South Kivu during the ceasefire period, far from the front lines.”

    The meeting came weeks after the rebel group seized Bukavu and Goma, tightening its grip in the eastern Congo where a fight with the government forces has been going on for a while.

    The M23 rebel group accuses the Congolese government of ethnic persecution against Kinyarwanda-speaking Congolese, which has caused hundreds of thousands of residents to flee to neighbouring countries.

    At today’s meeting, Nangaa promised to liberate Uvira in two days and appoint a new governor for South Kivu Province, just like they did in North Kivu following the capture of Goma.

    “I promise you that in two days, we will be at Uvira to restore security. In Bukavu, we will appoint the new governor, two vice-governors, the mayor of the city, three mayors, and territorial administrators,” he stated.

    The meeting, addressed by Corneille Nangaa, the leader of the political-military coalition, had kicked off well, with a mammoth crowd in attendance.
    Corneille Nangaa (center), the leader of the AFC/M23, addressed the meeting.
  • Kenya: Ruto and Odinga’s dalliance sets stage for possible grand coalition after unsuccessful AU bid

    Kenya: Ruto and Odinga’s dalliance sets stage for possible grand coalition after unsuccessful AU bid

    The two political nemeses-turned-allies are reportedly working on a legal framework to define the structure and operational mechanisms of their proposed political union. This arrangement would see Odinga secure a plum government position while also bringing more of his allies into the Cabinet.

    The drafting of the agreement comes just days after Odinga returned home following his unsuccessful bid to become chairperson of the African Union Commission (AUC).

    In their first meeting since returning from Addis Ababa, Ethiopia, the two leaders met at State House Mombasa on Monday, February 24, where they reaffirmed their commitment to a broad-based government. Several of Odinga’s lawyers, who have drafted past agreements with previous regimes, were present in Mombasa, further fueling speculation.

    Odinga and Ruto faced off in the disputed 2022 presidential election, which the former prime minister accused Ruto of rigging. However, in an unprecedented move, they joined forces after deadly youth-led protests erupted in the country in June last year over punitive taxes. This was widely seen as Ruto’s attempt to have Odinga help him quell the unrest.

    In return, Ruto absorbed some of Odinga’s political lieutenants into the Cabinet in what he termed the formation of a broad-based government. The President also led efforts to lobby for Odinga’s AUC bid. However, this move was not without criticism, with some accusing Odinga of riding on the blood of young Kenyans who died in the protests for political gain.

    With their renewed political dalliance, it is becoming increasingly apparent that the leaders are keen to elevate their political collaboration to a new level.

    Should Odinga yield to Ruto’s overtures, he is reportedly set to be rewarded with the appointment of several of his allies to senior government positions, including Cabinet Secretaries and Principal Secretaries. Some of Odinga’s supporters are pushing for a 50-50 power-sharing arrangement by 2027.

    Odinga could also benefit from a proposed constitutional amendment that would see the creation of the position of Leader of the Official Opposition, the reintroduction of the Prime Minister role, and other governance adjustments aimed at enhancing inclusivity and national cohesion.

    Amid growing speculation, Odinga has promised to make a major political announcement next week, further heightening rumours of a potentially game-changing realignment in Kenyan politics.

    “The African Union Commission (AUC) election is now behind us. I’m back home, ready for the next move, which I will share with Kenyans in the coming week,” he said during a press briefing.

    Meanwhile, Ruto’s former deputy, Gachagua, who was ousted last year over insubordination, is expected to unveil a new party and form a coalition with other like-minded opposition leaders in a bid to challenge Ruto in 2027.

    He has repeatedly accused President Ruto of betrayal and has vowed to lobby against him, seeking to deny the Head of State votes from the vote-rich Mount Kenya region, which played a huge role in Ruto’s election.

    A grand coalition government appears to be in the works in Kenya as President William Ruto and opposition leader Raila Odinga seek to counter the growing influence of impeached Deputy President Rigathi Gachagua ahead of the 2027 General Election, the local media reports.
    In their first meeting since returning from Addis Ababa, Ethiopia, the two leaders met at State House Mombasa on Monday, February 24, where they reaffirmed their commitment to a broad-based government.
  • Rwanda, Ghana launch initiative for real-time cross-border payment infrastructure

    Rwanda, Ghana launch initiative for real-time cross-border payment infrastructure

    The signing of the project, dubbed Africa’s Next-Gen Digital Payment Infrastructure, took place on Tuesday, February 25, at the Inclusive Fintech Forum 2025.

    Also known as Project 54, the initiative marks a significant step toward integrating Africa’s financial ecosystem.

    GFTN is a not-for-profit organisation established by the Monetary Authority of Singapore (MAS) in 2024 to expand Singapore’s fintech ecosystem globally. Its partnership in the initiative underscores Africa’s growing significance in the global digital economy.

    Outgoing Central Bank Governor John Rwangombwa participated in the signing ceremony, praising the initiative for its potential to address the high costs and inefficiencies of cross-border transactions, thereby enhancing trade and financial inclusion.

    The project was conceived through discussions at key global forums, including the 3i Africa Summit in Accra, the Zurich Point Zero Forum, and the Singapore FinTech Festival.

    Recognising Africa’s dynamic financial landscape, stakeholders sought to develop a solution that enables seamless cross-border transactions, ultimately benefiting small businesses, entrepreneurs, and financial institutions.

    The implementation of Africa’s Next-Gen Digital Payment Infrastructure is built on four fundamental pillars, each essential to creating a robust and future-ready financial system.

    A strong governance framework is at the core, establishing clear scheme rules, dispute resolution mechanisms, and liability structures. This also includes enhanced local currency settlement models, ensuring stability and reliability across cross-border transactions.

    Technology integration and advancement play a pivotal role, with a focus on innovations such as tokenisation and digital currency applications. By embracing these emerging technologies, the initiative aims to future-proof Africa’s financial sector and enhance efficiency.

    A sustainable pricing model underpins the initiative, promoting financial viability through cost-effective solutions tailored for both high-value and low-value transactions. This ensures accessibility and affordability while maintaining long-term operational stability.

    Equally important is the engagement of key stakeholders, including regulators, financial institutions, fintech innovators, and investors. By fostering collaboration, the initiative seeks to build a resilient digital payments ecosystem that aligns with the needs of Africa’s evolving financial landscape.

    Bank of Ghana Governor Johnson Asiama described the launch as a milestone toward an integrated African capital market, offering new opportunities for entrepreneurs and small businesses.

    “The pursuit of a safe, affordable, and efficient cross-border regional payment architecture, backed by a licence passporting framework, represents another significant step forward,” he said.

    With Africa’s fintech industry projected to generate $40 billion in revenue by 2028, overcoming regulatory and infrastructure challenges remains crucial. Project 54 aims to bridge this gap, unlocking new pathways for inclusive financial growth and positioning Africa at the forefront of global digital payments innovation.

    The signing of the project, dubbed Africa's Next-Gen Digital Payment Infrastructure, took place on Tuesday, February 25, at the Inclusive Fintech Forum 2025.