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| L-R: John-Bosco Sebabi, Deputy CEO PAPSS; Naco Bolote, Head of International Remittance & Payments for African Subsidiaries, Access Bank Plc; Gabriel Edgar, Chairman and Group CEO Oakwood Green Africa; Vincent Chuunga, COO Zambia National Commercial Bank (Zanaco); Mike Ogbalu, CEO PAPSS; and Obi Ejimofo, Head of Commercialization PAPSS at the inaugural Pan-African Payment and Settlement System (PAPSS) COWRY 2025 Participants Forum, held in Lagos, Nigeria, recently. |
Access Bank has reaffirmed its leadership in driving financial integration across the continent as it took centre stage at the inaugural Pan-African Payment and Settlement System (PAPSS) COWRY 2025 Participants Forum held on December 2–3, 2025, in Lagos.
The two-day event gathered policymakers, central bankers, financial institutions, technology providers and payment experts to discuss the future of Africa’s payment ecosystem under the theme: “Building an interoperable and sovereign African payment ecosystem for trade and economic growth.”
Speakers at the forum emphasised the urgent need for resilient, secure and interoperable payment infrastructure that would support small businesses, strengthen intra-African trade and power the objectives of the African Continental Free Trade Area (AfCFTA).
Access Bank Showcases Cross-Border Innovations
Representing Access Bank, Naco Bolote, Head of International Remittance & Payments for African Subsidiaries, and Aminat Olatunji, Unit Head of Remittances, participated in strategic discussions on the continent’s evolving settlement landscape.
They highlighted how PAPSS—designed to enable instant, secure and efficient cross-border transactions in local African currencies—has begun reducing reliance on third-party currencies and significantly shortening settlement timelines for businesses and individuals.
Bolote noted that Access Bank, through its AccessAfrica payments platform, remains a key driver of this transformation.
“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 so Africans can move money quickly, reliably and at scale,” he said.
Transforming Payments Across 20+ African Corridors
According to Bolote, the combination of PAPSS and AccessAfrica allows Access Bank customers to enjoy:
- Instant local-currency settlement
- Reduced FX dependence
- Faster, predictable and cost-efficient transfers
- Expanded access across more than 20 African corridors
He added that PAPSS is already operational in eight Access Bank markets, with wider rollout planned for 2026.
Driving a More Connected African Economy
Access Bank also commended PAPSS, Afreximbank and the AfCFTA Secretariat for championing the infrastructure needed to build a more connected and sovereign African economy.
The Bank reiterated its commitment to deepening payment innovation across Africa, positioning itself as a leading financial services provider for individuals, SMEs and corporates participating in intra-African trade.
About Access Bank
Access Bank, a subsidiary of Access Holdings Plc, operates more than 700 branches and service outlets across 24 countries, serving over 60 million customers in Africa, Asia and Europe. The Bank combines a strong retail franchise with cutting-edge digital capabilities, corporate banking strength and a long-term strategy anchored in sustainable, inclusive economic growth.