Onafriq and PAPSS launch cross-border payment services in Ghana, ushering in a new era of financial connectivity across Africa. This groundbreaking partnership, unveiled on June 20, 2025, kicks off with a pilot program for outbound transactions from Ghana. Users can now send and receive money directly into mobile wallets and bank accounts continent-wide. The service taps into the Pan-African Payment and Settlement System (PAPSS) for secure, instant, and affordable transactions. This move tackles the steep costs and delays of traditional cross-border payments. As a result, it boosts financial inclusion and fuels intra-African trade.
Onafriq and PAPSS Launch Cross-Border Payment Services in Ghana: Boosting SMEs
Onafriq and PAPSS launch cross-border payment services in Ghana, delivering a lifeline to small and medium-sized enterprises (SMEs). This initiative empowers businesses to reach new markets with faster and cheaper transactions. Dare Okoudjou, Founder and CEO of Onafriq, champions the effort, saying, “This service is not just about convenience; it brings people together and enhances economic activity between Ghana and the region.” The Bank of Ghana has greenlit a six-month pilot to track transaction flows and user uptake. Consequently, SMEs gain better rates and services, amplifying their growth potential
Strengthening Transactions with PAPSS
The collaboration leans heavily on PAPSS, backed by the African Export-Import Bank (Afreximbank). This infrastructure ensures trusted and swift settlements, easing liquidity pressures on participants. Mike Ogbalu III, CEO of PAPSS, underscores its impact, stating, “Our partnership with Onafriq represents a commitment to empowering SMEs and individuals by simplifying cross-border transactions.” Furthermore, it weaves informal trade into formal payment networks. Therefore, this step fortifies Africa’s financial integration and accessibility.
A Vision for Africa’s Future
This launch marks a turning point for cross-border commerce in Ghana and beyond. It promises to reshape how individuals and businesses transact across borders. As the pilot unfolds, it sets the stage for wider rollout across Africa. The service not only drives economic growth but also bridges gaps in financial access. In conclusion, Onafriq and PAPSS are paving the way for a more connected and inclusive African economy.
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