GCB Bank’s leadership in advancing seamless cross-border payments across Africa has earned high praise from the Pan-African Payment and Settlement System (PAPSS), with the Bank being recognised as one of the platform’s most strategic partners on the continent.
The recognition came during a courtesy call by a PAPSS delegation to GCB Bank’s Head Office in Accra, where both institutions reaffirmed their commitment to deepening financial integration and accelerating intra-African trade.
The PAPSS delegation, led by Chief Executive Officer Mike Ogbalu III and accompanied by Chief Information Officer and Head of Operations Ositadinma Ugwu, commended GCB Bank for its support since the platform’s inception.
PAPSS highlighted GCB Bank’s pioneering role in the development of the continental payment platform, noting that the Bank became the first commercial bank to successfully process a live PAPSS cross-border payment, a milestone that marked a significant step forward for Africa’s payments ecosystem.
The delegation also acknowledged GCB Bank’s customer-focused pricing strategy and sustained efforts to drive adoption of the platform, which have contributed to increasing cross-border payment volumes across the region.
Discussions centred on expanding the use of PAPSS to enable faster, more efficient and cost-effective cross-border payments for businesses trading across Africa. Both institutions also explored opportunities to deepen collaboration in digital payments, trade finance and financial market integration.
The meeting further underscored GCB Bank’s strategic role as PAPSS’ designated gateway bank in Ghana under the PAPSS Local Currency Settlement System, an initiative aimed at enabling cross-border payments in local currencies, reducing reliance on foreign exchange and improving settlement efficiency across African markets.
Responding, Managing Director of GCB Bank, Farihan Alhassan, reaffirmed the Bank’s commitment to championing initiatives that promote seamless cross-border trade and financial integration across the continent.
He noted that GCB Bank will continue to work closely with PAPSS to expand innovative payment solutions that enhance customer experience, strengthen regional trade and enable African businesses to fully leverage opportunities under the African Continental Free Trade Area (AfCFTA).
The meeting concluded with both institutions reaffirming their shared commitment to building a more connected, efficient and innovative African payments ecosystem through stronger collaboration and strategic partnerships.
