This launch operationalises the partnership established in 2022, aimed at promoting intra-African cross-border trade and enhancing financial inclusion.

The service improves financial interoperability by making transactions faster, more convenient, and cost-effective for small and medium-sized enterprises (SMEs) and individuals.

Effective immediately, banks partnering with PAPSS and Onafriq’s authorised fintech, mobile money service providers and traditional partners in Ghana can enable their customers to send and receive money directly into mobile wallets and bank accounts.

This pioneering service aims to address the existing challenges of high transaction costs and opaque exchange rates, while further integrating informal cross-border transactions into the formal payment systems. The primary emphasis of this new service will be on SME and retail transactions.

As part of this pilot, 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.

By participating in this arrangement, these partners benefit from the safeguards and efficiency of PAPSS’s framework.

The African Export-Import Bank (Afreximbank) serves as the settlement entity, ensuring trusted and timely settlement between parties.

Dare Okoudjou, founder and CEO of Onafriq, 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.”

Mike Ogbalu III, CEO of PAPSS, echoed this enthusiasm, saying,

“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 six-month pilot program – approved by the Bank of Ghana (BoG) – will allow Onafriq and PAPSS to assess transaction flows, user adoption, and foreign exchange performance while delivering better rates and more accessible services to customers.

This launch deepens the long-standing collaboration between Onafriq and PAPSS and reinforces their shared commitment to building infrastructure that empowers African businesses, individuals, and financial institutions across the continent.

The service will soon be available on mobile money and other fintech based wallets.

Starting as a mobile money switch, Onafriq has transformed into a full omnichannel payments network. It facilitates cross-border disbursements, collections, card issuance and processing, offline agent banking services, and FX & treasury services.

At its core, Onafriq is providing digital interoperability across mobile wallets, bank accounts, cards, and offline payment channels – bringing Africa closer to a seamless and integrated financial future.

“We remain fully committed to connecting every individual and business in Africa with each other and the world,” said Dare Okoudjou, founder and CEO of Onafriq. “Fifteen years ago, we set out with a bold ambition: to connect Africa’s mobile money systems and make borders matter less. What we’ve built since then is more than a network – it’s a pan-African infrastructure layer that has evolved in lockstep with the continent’s digital evolution. From mobile money to bank accounts, from remittances to real-time trade – we’ve grown as Africa has grown. I’m incredibly proud of what we’ve achieved and even more excited about the road ahead.”

From Mobile Wallet Interoperability to Omnichannel Infrastructure

Over the past 15 years, Onafriq has progressed from simply connecting mobile wallet schemes to a comprehensive interoperability layer for African finance, supporting various use cases from peer-to-peer transfers and merchant collections to card issuance, agency banking, and remittances.

Today, Onafriq’s network connects:

• 961 million registered mobile wallets
• 464 million registered bank accounts
• More than 2,000 cross-border payment corridors

This robust infrastructure has facilitated access and usage across the continent, enabling everyone from rural beneficiaries of social payments to global fintechs operating in Africa.

Looking Ahead

As Onafriq embarks on its next chapter, the company aims to develop a network with greater local relevance while maintaining the scale of its pan-African infrastructure.

“We are increasingly focused on creating infrastructure with local depth,” said Okoudjou. “A prime example is Nigeria, where we are developing a unique payments stack that combines the strength of our cross-border network with the regulatory and foreign exchange realities of one of Africa’s most dynamic economies. By building infrastructure that reflects local context, we can enable more relevant use cases – moving beyond large numbers of registered mobile money wallets to foster an ecosystem where usage is active, sustained, and impactful.”

“With our relentless focus on building the foremost pan-African cross-border payment network, we continue to invest in creating infrastructure with local depth,” said Okoudjou. “A prime example is Nigeria, where we are developing a unique payments stack that combines the strength of our cross-border network with the regulatory and foreign exchange realities of one of Africa’s most dynamic economies. By building infrastructure that reflects local context, we can enable more relevant use cases to foster an ecosystem where usage is active, sustained, and impactful.”

Onafriq is also exploring blockchain infrastructure and stablecoin integrations to facilitate near-instant, programmable payments – a crucial step towards real-time, interoperable trade across African currencies.

These innovations align with the objectives of the African Continental Free Trade Area (AfCFTA) and are designed to help Africa bypass outdated payment systems in favour of a modern, mobile-first financial ecosystem.

With extensive experience, wide reach, and a proven execution track record, Onafriq remains dedicated to building a payment infrastructure that unlocks prosperity – both across borders and within local communities.