Onafriq, a leading African digital payments network, has launched a pilot cross-border payment service in Ghana, in partnership with the Pan-African Payment and Settlement System (PAPSS). This initiative marks the next phase of their 2022 partnership, aiming to streamline intra-African trade and enhance financial access across the continent. The rollout is designed to provide faster, more transparent, and cost-effective transactions for both individuals and small and medium-sized enterprises (SMEs).
Improving Access Through Technology and Partnership
The pilot, now active in Ghana, enables users to send and receive funds directly into mobile money wallets and bank accounts. Customers using services from Onafriq’s authorised partners and banks connected to PAPSS can now enjoy seamless cross-border payments that bypass the traditional complexities of high costs and unclear exchange rates. By focusing on SME and retail users, the project targets two of the most underbanked yet economically vital segments in Africa.
Leveraging Infrastructure for Broader Inclusion
The success of this initiative hinges on the synergy between Onafriq’s digital network and PAPSS’s regulatory infrastructure. By integrating their systems, the two organisations ensure a secure and efficient payment experience, with the African Export-Import Bank (Afreximbank) serving as the central settlement entity. This collaboration offers financial institutions the ability to support transactions with the confidence of regulatory compliance and settlement security.
Strategic Commitment to Inclusive Financial Solutions
Dare Okoudjou, CEO and founder of Onafriq, emphasized the broader implications of the launch. He described the new service not only as a technological breakthrough but as a bridge that fosters greater economic activity and unity within Africa. His vision underscores Onafriq’s mission to eliminate financial borders and expand access to essential financial services.
PAPSS's Role in Pan-African Financial Integration
Mike Ogbalu III, CEO of PAPSS, praised the pilot as a milestone in realizing the vision of a harmonized African financial ecosystem. According to Ogbalu, simplifying cross-border payments will reduce liquidity burdens on businesses and strengthen financial inclusion. His comments reflect PAPSS’s strategic role in removing long-standing barriers to trade and finance within Africa.
Pilot Program to Gauge Adoption and Impact
This six-month pilot, approved by the Bank of Ghana (BoG), will serve as a testing ground for transaction volume, user behaviour, and exchange performance. Onafriq and PAPSS will use the results to fine-tune the service and prepare for broader rollout. Early users will benefit from better rates and easier access, which will help validate the value proposition of integrated African payments.
Building on a History of Collaboration
The launch strengthens the partnership between Onafriq and PAPSS, which has long aimed to empower African businesses and consumers with better financial infrastructure. As the pilot progresses, the service will expand to mobile money and fintech platforms beyond Ghana. This deepening collaboration signals a shared resolve to reshape how African economies connect through digital finance.
With this initiative, Onafriq and PAPSS are taking concrete steps to transform the landscape of African payments. By making cross-border transactions more accessible, they are not only facilitating trade but also contributing to the continent’s financial inclusion goals. If successful, the Ghana pilot could serve as a blueprint for scaling interoperable payment systems across Africa, bringing the vision of borderless economic participation closer to reality.