Cross- border payment service debuts in Ghana, backed by Onafriq and PAPSS
In a significant move towards promoting intra-African cross-border trade and enhancing financial inclusion, Onafriq and the Pan-African Payments and Settlement System (PAPSS) have launched a six-month pilot phase of their cross-border payment service in Ghana. The service, which received approval from the Bank of Ghana in June 2025, aims to make transactions faster, more convenient, and cost-effective for small and medium-sized enterprises (SMEs) and individuals.
The partnership, established in 2022, is positioned as a major step towards enhancing economic activity and financial inclusion not only in Ghana but across the African region. Speaking about the service, Onafriq's CEO, Dare Okoudjou, emphasized that this service offers more than just convenience; it helps diminish the significance of African borders in trade and transactions, thereby promoting integration. PAPSS CEO Mike Ogbalu III highlighted the service's potential to empower SMEs and individuals by simplifying cross-border payments and reducing liquidity burdens.
The service leverages PAPSS's settlement framework, with the African Export-Import Bank (Afreximbank) acting as the settlement entity to ensure trusted and timely transaction settlement. This collaboration deepens the long-standing relationship between Onafriq and PAPSS and reinforces their shared mission of building infrastructure that empowers African businesses, individuals, and financial institutions.
Participating partners in this arrangement benefit from the safeguards and efficiency of PAPSS's framework. The new service will initially pilot outbound transactions in Ghana, with the aim of expanding to other regions in the near future. Onafriq is leveraging PAPSS infrastructure and regulatory coverage to offer its fintech, mobile money, and traditional partners in Ghana unparalleled access to cross-border payment capabilities.
Dare Okoudjou expressed pride in being at the forefront of the transformation towards more accessible financial services. He reiterated the service's goal of bringing people together and enhancing economic activity between Ghana and the region. Mike Ogbalu III expressed enthusiasm about the partnership, stating it simplifies cross-border transactions for SMEs and individuals.
The new service is expected to be available on mobile money and other fintech-based wallets soon, making it more accessible to a wider audience. As African borders start to matter less, this innovative cross-border payment solution, as described by Dare Okoudjou, is not just about convenience but also about enhancing economic activity. The African Export-Import Bank (Afreximbank) continues to serve as the settlement entity for the cross-border payment service, ensuring trusted and timely settlement between parties.
In summary, Onafriq’s cross-border payment service with PAPSS is currently operational in pilot form in Ghana, demonstrating a promising impact by facilitating easier, faster, and more affordable cross-border transactions. The service aims to reduce the liquidity burden on participants while fostering financial inclusion across the region, according to PAPSS CEO Mike Ogbalu III. Onafriq’s CEO, Dare Okoudjou, emphasized the company's dedication to making financial services accessible to everyone. The partnership between Onafriq and PAPSS is a significant stride towards promoting intra-African trade and enhancing financial inclusion.
- This cross-border payment service, initiated by Onafriq and PAPSS, operates on mobile money and other fintech-based wallets, thereby making it more accessible to a wider audience.
- Dare Okoudjou, the CEO of Onafriq, highlighted that this service not only offers convenience but also plays a significant role in diminishing the significance of African borders in trade and transactions, thereby promoting integration.
- The African Export-Import Bank (Afreximbank) serves as the settlement entity for the cross-border payment service, ensuring trusted and timely settlement between parties.
- Mike Ogbalu III, the CEO of PAPSS, stated that this partnership simplifies cross-border transactions for small and medium-sized enterprises (SMEs) and individuals, and has the potential to empower them by reducing liquidity burdens.
