The Pan-African Payment and Settlement System (PAPSS) has commended GCB Bank for its leadership in advancing seamless cross-border payments across Africa, describing the bank as one of the platform’s most strategic partners on the continent.

The commendation came during a courtesy call by a PAPSS delegation to GCB Bank’s Head Office in Accra, where both institutions reaffirmed their commitment to strengthening financial integration and accelerating intra-African trade. The delegation was led by PAPSS Chief Executive Officer, Mike Ogbalu III, and included the organisation’s Chief Information Officer and Head of Operations, Ositadinma Ugwu.

During the meeting, PAPSS praised GCB Bank for its unwavering support since the platform’s inception, highlighting the bank’s pioneering role in the development of the continental payment system. It noted that GCB Bank became the first commercial bank to successfully process a live PAPSS cross-border payment, describing the achievement as a landmark moment for Africa’s payments ecosystem.

The delegation also lauded the bank’s customer-focused pricing strategy and sustained efforts to promote the adoption of PAPSS, saying those initiatives have contributed to growing cross-border payment volumes across the region. Discussions focused on expanding the use of the platform to enable faster, more efficient and more affordable cross-border transactions for businesses trading across Africa.

Responding to the commendation, Managing Director of GCB Bank, Farihan Alhassan, reaffirmed the bank’s commitment to supporting initiatives that promote seamless cross-border trade and financial integration across the continent.

“GCB Bank remains committed to working 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),” he said.

The meeting also underscored GCB Bank’s strategic role as PAPSS’ designated gateway bank in Ghana under the PAPSS Local Currency Settlement System, an initiative designed to facilitate cross-border payments in local currencies, reduce reliance on foreign exchange and improve settlement efficiency across African markets.

Both institutions concluded the engagement by reaffirming their shared commitment to building a more connected, efficient and innovative African payments ecosystem through stronger collaboration and strategic partnerships.