Onafriq and PAPSS Collaboration Revolutionizes Cross-Border Payments in Africa
Mr. Dare Okoudjou, the founder and CEO of Onafriq, has highlighted the transformative potential of his platform in connecting mobile money and bank accounts across 54 African countries. This initiative is set to revolutionize the way businesses operate on the continent, particularly for small and medium-sized enterprises (SMEs) in Ghana.
Support kami, ada hadiah spesial untuk anda.
Klik di sini: https://indonesiacrowd.com/support-bonus/
The Onafriq system is designed to leverage the digital infrastructure of the Pan-African Payment and Settlement System (PAPSS). This collaboration aims to enable SMEs in Ghana to make and receive payments from all 54 African countries using their mobile money and bank accounts. The CEO shared these insights during a high-level meeting involving Onafriq, PAPSS, and other key stakeholders in Africa’s payment landscape.
This meeting also marked the validation of the successful pilot of the Onafriq platform, which facilitated cross-border payments between Ghana and Nigeria. Mr. Okoudjou emphasized that this success positions Onafriq to further promote cross-border payments through both mobile money and bank-to-bank transfers.
The CEO revealed that Onafriq is already active in 43 countries, which will significantly aid in expanding the piloted system between Ghana and Nigeria to other African nations. The platform is designed to facilitate wallet-to-wallet and account-to-account transfers, making it easier for SMEs to conduct seamless transactions across the continent.
Support us — there's a special gift for you.
Click here: https://indonesiacrowd.com/support-bonus/
Mr. Mike Ogbalu, CEO of PAPSS, spoke about the ongoing payment revolution in Africa, which has the potential to boost trade on the continent. He noted that since PAPSS’s establishment, over 150 commercial banks in 16 countries have been successfully connected, with an average transaction time of just seven seconds.
Ogbalu emphasized that strategic partnerships with fintech companies like Onafriq can help SMEs easily facilitate payments through mobile money and bank accounts. This partnership is expected to position Africa as a global hub for trade and commerce by enabling businesses to trade in local currencies, thereby reducing costs and accelerating inventory turnover.
According to the CEO, the success of this partnership hinges on increased trade volumes, reduced transaction fees, improved working capital for businesses, and a more integrated and prosperous African continent.
Africa’s cross-border payment systems have long faced challenges such as fragmented currencies, high transaction costs, and regulatory complexities. These issues have made trade among African countries difficult. Mr. Okoudjou stated that the Onafriq platform is designed to address these challenges, particularly high transaction costs and currency volatility, which have hindered cross-border payments in Africa.
Through its innovative approach, Onafriq and PAPSS are paving the way for a more connected and efficient African market. This collaboration not only simplifies financial transactions but also fosters economic growth and regional integration. As the platform expands, it is expected to play a crucial role in transforming the African business landscape and promoting sustainable development across the continent.
