While I am convinced that this is the way forward for Africa, I am perfectly aware of the many hurdles that that need to be overcome before this kind of ambition can become a reality. For example, the efficient functioning of a payments and settlement system, a vital component of FMIs, relies on the appropriate infrastructure being put in place i.e.
telecommunications, acceptance networks, internet access etc. While many  4  BIS central bankers’ speeches  countries in the African region have made significant efforts towards implementing RTGS systems, in setting up ATMs, or effecting payments through mobiles, many still lack reliable telecommunications, good road networks, or even electricity.