Ghana's number one bank, GCB Bank PLC, joined key regional institutions driving Africa's payment infrastructure transformation at a high-level strategic workshop in Cairo, Egypt, focused on removing cross-border transaction barriers that continue to constrain intra-African trade.

The strategic engagement workshop, hosted at the Afreximbank Headquarters, brought together senior banking and financial sector leaders to explore practical solutions for improving cross-border payments, expanding local currency transactions and strengthening Africa’s financial connectivity under the African Continental Free Trade Area (AfCFTA).

The discussions come at a critical time as African institutions intensify efforts to remove payment barriers that continue to slacken the pace of trade across the continent. Stakeholders at the workshop examined opportunities to accelerate trade settlements, simplify payment processes for businesses and deepen collaboration among financial institutions across African markets.

GCB Bank’s participation also highlights its longstanding partnership with Pan-African Payment and Settlement System (PAPSS) and its role in supporting the growth of Africa’s emerging cross-border payment infrastructure. The Bank remains the first financial institution to successfully process a live PAPSS transaction, marking a significant milestone in Africa’s journey toward a more integrated payment ecosystem.

Key discussions during the engagement focused on innovations within the PAPSS ecosystem, including the PAPSS Local Currency System, the PAPSS Currency Marketplace, fintech integration and other digital solutions aimed at simplifying settlements between African countries.

Speaking during the engagements, Managing Director of GCB Bank PLC, Farihan Alhassan, underscored the importance of efficient payment systems in unlocking the continent’s economic potential.

“For African businesses to grow confidently across borders, payments must become easier, faster and more reliable,” he said.

“Our partnership with PAPSS and Afreximbank is helping create the infrastructure that supports trade, connects markets and gives African businesses more opportunities to scale.”

The GCB delegation also engaged senior leadership from Afreximbank and PAPSS, including President and Chairman of the Board of Directors of Afreximbank, George Elombi, and Chief Executive Officer of PAPSS, Mike Ogbalu III.

The delegation was led by Managing Director, Farihan Alhassan and included Executive Director for Wholesale & Investment Banking, Abdulsalam Alhassan; Head of Financial Institutions & International Organisations, Andrews Adu-Osei Jnr; Head of Transaction Banking, Stephen Kwesi Biney; Trade Finance Products Manager, Yvonne Enam Seshie; and Financial Operations Manager, Francis Cosmas-Gonzalves

Through its continued collaboration with regional and continental financial institutions, GCB Bank remains focused on supporting trade facilitation, driving financial innovation and helping African businesses access opportunities across the continent.

GCB Bank PLC is Ghana’s premier indigenous bank and the country’s largest commercial bank. With 183 branches and over 340 ATMs nationwide, the Bank has served as a cornerstone of Ghana’s financial system since 1953, providing innovative financial solutions that support economic growth, financial inclusion and enterprise development across the country.