Advancing Cross-Border Payments At the — inaugural Pan-African Payment and Settlement System (PAPSS) COWRY 2025 Participants Forum, held in Lagos, Nigeria.
The event brought together policymakers, regulators, financial institutions, and payment experts to explore pathways toward “Building an interoperable and sovereign African payment ecosystem for trade and economic growth.”
In alignment with the theme, discussions emphasised the importance of resilient, interoperable, and sovereign African payment infrastructure that empowers businesses, supports SMEs, and strengthens intra-African trade under the AfCFTA.
Designed to facilitate instant, secure, and efficient cross-border transactions in local African currencies, PAPSS reduces dependency on third-party currencies, enhances settlement efficiency, and promotes regional economic integration.
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Access Bank, through its AccessAfrica initiative, plays a leading role in this evolution. AccessAfrica enables fast, secure, and affordable payments across more than 20 African corridors. During the forum, Access Bank representatives Naco Bolote,
Head of International Remittance & Paymentsfor African Subsidiaries and Aminat Olatunji, Unit Head of Remittances actively contributed to conversations on the emerging settlement landscape and the future of continental financial integration.
“The progress made with PAPPS reinforces Access Bank’s commitment to real-time settlement and financial integration across Africa, and we remain dedicated to collaboration and innovation, ensuring Africans can move money quickly, reliably, and at scale.” said Bolote.
Bolote also highlighted that PAPPS unlocks instant, local-currency settlement, reducing FX reliance and transaction times; combined with AccessAfrica, allows faster, predictable, and cost-efficient transfers across 20+ African countries; is live in eight Access Bank markets, with further rollouts planned for 2026.
