By Ayomide Otitoju
Access Bank showcased its leadership in cross-border payments at the inaugural Pan-African Payment and Settlement System (PAPSS) COWRY 2025 Participants Forum, held on December 2-3, 2025, in Lagos.
The forum convened policymakers, regulators, financial institutions, and payment experts to explore strategies for “Building an interoperable and sovereign African payment ecosystem for trade and economic growth.” Discussions centered on the need for resilient, interoperable African payment infrastructure that empowers businesses, supports SMEs, and boosts intra-African trade under the African Continental Free Trade Area (AfCFTA).
PAPSS, designed to facilitate instant, secure, and efficient cross-border transactions in local African currencies, reduces reliance on third-party currencies, enhances settlement efficiency, and fosters regional economic integration.
Access Bank, through its AccessAfrica initiative, has been instrumental in this transformation, enabling fast, secure, and cost-efficient payments across more than 20 African corridors. At the forum, Naco Bolote, Head of International Remittance & Payments for African Subsidiaries, and Aminat Olatunji, Unit Head of Remittances, actively contributed to discussions on the emerging settlement landscape and the future of continental financial integration.
“The progress made with PAPSS reinforces Access Bank’s commitment to real-time settlement and financial integration across Africa. We remain dedicated to collaboration and innovation, ensuring Africans can move money quickly, reliably, and at scale,” Bolote said.
He added that PAPSS facilitates instant local-currency settlement, reducing foreign exchange dependency and transaction times. Combined with AccessAfrica, it allows faster, predictable, and cost-efficient transfers across more than 20 African countries, currently live in eight Access Bank markets, with further rollouts planned for 2026.
Access Bank also commended PAPSS, Afreximbank, and the AfCFTA Secretariat for driving the infrastructure necessary for a more connected, sovereign, and prosperous African economy.
