Onafriq and PAPSS launch cross-border payments in Ghana

Published 9 hours ago• 2 minute read

The service, now live, allows partner banks, FinTechs, mobile money operators, and traditional financial institutions in Ghana to enable customers to send and receive funds directly to mobile wallets and bank accounts. This addresses long-standing obstacles such as high transaction fees and non-transparent exchange rates, while also pulling informal financial activity into formal payment systems.

With an emphasis on SME and retail use, the pilot enables real-time transactions by leveraging PAPSS’s robust infrastructure and regulatory framework. The African Export-Import Bank (Afreximbank) acts as the settlement agent, ensuring secure and timely processing.

Onafriq founder and CEO Dare Okoudjou said, “We are excited to be taking another step in operationalising our important partnership with PAPSS to bring this innovative cross-border payment solution to our users. This service is not just about convenience; it brings people together and enhances economic activity between Ghana and the region. We are dedicated to making financial services accessible to everyone and are proud to be at the forefront of this transformation. African borders are starting to matter less; this is Onafriq’s goal.”

PAPSS CEO Mike Ogbalu III added, “Today marks a significant milestone in our journey towards a more integrated financial landscape in Africa. Our partnership with Onafriq represents a commitment to empowering SMEs and individuals by simplifying cross-border transactions. We believe this service will help reduce the liquidity burden on participants while fostering financial inclusion across the region.”

The Bank of Ghana has approved a six-month pilot period, during which the two organisations will evaluate transaction volumes, foreign exchange outcomes, and user engagement.

Onafriq, whose infrastructure spans 43 African countries, offers access to over 1 billion mobile money wallets and 500 million bank accounts. Its platform connects a wide range of partners—from banks and FinTechs to global development organisations—through a unified network. With a presence in key African and international markets, Onafriq continues to promote access to financial services on a global scale.

PAPSS, established by Afreximbank and the African Union, serves as a central financial market infrastructure to support the African Continental Free Trade Agreement (AfCFTA).

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