AFRICA WITHOUT BORDERS: How AfCFTA and PAPSS Are Revolutionising Cross-Border Payments

Africa is on the move—not just in trade, but in technology.

Across the continent, from Lagos to Kigali, from Accra to Addis Ababa, a silent revolution is unfolding. It’s not just about moving goods anymore—it’s about moving money faster, smarter, and securely across borders.

Welcome to the new era of borderless payments, powered by the African Continental Free Trade Area (AfCFTA) and the Pan-African Payment and Settlement System (PAPSS).

Why Payments Matter in Africa’s Trade Story

For decades, Africa’s greatest economic challenge wasn’t the lack of trade—it was the lack of connectivity.

While intra-African trade accounted for just 15% of total exports (compared to 60% in Europe), the real bottleneck wasn’t just roads or customs—it was payments. Over 40 national currencies meant that doing business across borders involved complex conversions, delays, and costs that choked small businesses and slowed innovation.

From informal traders in Kano to SMEs in Abidjan, the cry was the same: “We need to pay faster, cheaper, and safer.”

The Game Changer: AfCFTA + PAPSS

Signed in 2018 by 44 countries and now encompassing 54 member states, AfCFTA is the largest free trade area in the world by country participation. It aims to create a single market for goods and services, boost trade, and deepen economic integration.

But no trade system works without efficient payment infrastructure.

That’s why PAPSS, developed by Afreximbank and backed by the African Union, is so critical. PAPSS enables real-time, cross-border payments in local currencies—eliminating the need for dollar conversions or third-party intermediaries.

This means a trader in Ghana can now pay a supplier in Nigeria in seconds—cedi to naira, directly and digitally.

Nigeria at the Centre of It All

As Africa’s digital innovation capital, Nigeria is playing a pivotal role in driving this transformation. With its vibrant fintech ecosystem, regulatory leadership, and commitment to digital inclusion, Nigeria is setting the pace for cross-border payment adoption.

Platforms built in Nigeria are now facilitating real-time transactions across African borders, unlocking capital for small businesses and fuelling digital trade at scale.

From the Central Bank’s sandbox to the eNaira project and private-sector breakthroughs, Nigeria is positioning itself as the financial engine room of AfCFTA’s success.

A Digital Highway for the Continent

Make no mistake—this isn’t just about trade. It’s about building Africa’s digital infrastructure for the future.

With AfCFTA and PAPSS working in tandem, the continent is now laying digital rails that allow commerce to move at the speed of trust—and technology. Where paper once delayed progress, code now accelerates opportunity.

What used to take days or weeks—settlements, conversions, clearances—now happens in seconds. Local currency to local currency. Bank to mobile wallet. Click to cash.

Challenges Remain, But So Does the Momentum

Yes, there are still hurdles. Regulatory alignment, digital literacy, and system interoperability need attention. Many economies remain cash-heavy and risk-averse. But the trajectory is set.

Africa is no longer waiting to be connected. It is connecting itself.

And thanks to PAPSS, the future of African trade is digital, frictionless, and deeply Pan-African.

One Africa. One Payment System. One Future.

With AfCFTA opening borders and PAPSS powering seamless payments, the dream of a united African marketplace is no longer far-fetched—it’s already live.

From Abuja to Accra, from Kinshasa to Nairobi, the message is clear:

Trade is no longer about where you are—it’s about how fast you can move. And now, Africa is moving.