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Onafriq Announces Intra-Trade Partnership with PAPSS.
t the event, Dare Okoudjou (CEO of Onafriq), Mike Ogbalu (CEO of PAPSS), and Ike Aneson (Country Director of Onafriq for Gambia and Ghana) were present to discuss the partnership and its benefits for cross-border payments in West Africa and the continent as a whole.
At the event, it was announced that Morocco had recently signed on to the PAPSS network, raising the total of African countries on the platform to 17.
Background
Launched by Afreximbank in collaboration with the African Union in 2019, the system has reduced the time it takes to make cross-border payments and transactions from days to just minutes.
The system was developed in response to the challenges faced by corporations and conglomerates operating across multiple African countries, arising from currency incompatibilities and reliance on hard currencies. Read More ..
