By 
By Evans Edebor
The evolution of Africa’s trade landscape just took another bold leap forward. The recent announcement of a strategic partnership between Onafriq (formerly MFS Africa) and the Pan-African Payment and Settlement System (PAPSS) marks a significant milestone in the journey toward seamless, secure, and sovereign cross-border trade payments on the continent.
With Ghana as the latest focal point of this transformation, this deal is not just a boost to the country’s financial ecosystem—it is a blueprint for others across Africa to follow.
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Historically, one of the most persistent bottlenecks stifling intra-African trade has been fragmented payment systems. African businesses have long faced the cumbersome and costly reality of routing payments through third-party currencies—often the U.S. dollar or euro—even when transacting with neighbouring countries.
This dependency has not only driven up transaction costs and settlement times but also eroded the competitiveness of African SMEs, especially those led by women and youth who often lack access to premium financial services.
PAPSS: A Revolutionary Infrastructure by AfCFTA
Enter PAPSS, a revolutionary infrastructure developed under the AfCFTA framework to enable instant, cross-border payments in local currencies across Africa. Backed by Afreximbank, PAPSS offers a sovereign solution that reduces reliance on external financial systems and enhances monetary independence for African economies. This system isn’t just a payment rail—it’s a catalyst for economic integration.
Now, with Onafriq joining the PAPSS network in Ghana, the potential of this infrastructure is supercharged. Onafriq, Africa’s largest digital payments network, connects over 500 million mobile money wallets, 200 million bank accounts, and 400,000 agents across more than 40 African countries. Its deep experience in last-mile financial connectivity and inclusive technology gives PAPSS a formidable ally in expanding its reach to underserved populations, including women-led microenterprises and youth entrepreneurs.
Making intra-African trade more affordable for Ghanaian businesses
The value of this partnership is multifaceted. First, it makes intra-African trade more affordable and accessible for Ghanaian businesses by eliminating the need for costly currency conversions. Second, it strengthens the ability of SMEs—particularly those in agriculture, fashion, and digital services—to tap into AfCFTA markets and scale their businesses. And third, it enhances Ghana’s positioning as a regional trade and fintech hub, capable of driving innovative solutions for Africa’s economic future.
More importantly, this partnership sends a strong message: the future of African trade lies in African solutions. It is high time for more fintechs and banks across the continent to follow Ghana’s lead and connect to PAPSS. By doing so, they won’t just be integrating with a payments platform—they’ll be plugging into the lifeline of the AfCFTA vision.
As we look to the future, one thing is clear: unlocking Africa’s $3.4 trillion market opportunity under AfCFTA demands bold reforms and bold partnerships. The Onafriq-PAPSS deal is one of them. Let’s scale it. Let’s replicate it. And most importantly, let’s ensure that no entrepreneur—especially women and youth—is left behind in this new age of African trade.
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Evans Edebor | Evangelist | Empowering 1 Million Women & Youth-Led MSMEs across Africa by 2035 for AfCFTA Success
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