Accra, Ghana – 17/04/25 — The Agricultural Development Bank (ADB) PLC has officially joined the Pan-African Payment and Settlement System (PAPSS), marking a significant step in enhancing cross-border financial transactions and supporting the continent’s broader trade integration agenda.
This partnership allows customers of ADB—both businesses and individuals—to make instant, secure, and cost-effective payments across multiple African countries, including Nigeria, Gambia, Liberia, Sierra Leone, and Guinea. The service is now fully operational at all ADB branches nationwide.
Speaking on the development, Managing Director of ADB, Mr. Edward Ato Sarpong, emphasized the bank’s commitment to digital innovation and economic advancement through strategic collaborations.
“We are dedicated to providing our customers with cutting-edge financial solutions that promote economic growth. Our partnership with PAPSS is a significant milestone in our digital transformation journey, ensuring that businesses and individuals can send and receive payments across Africa with speed, security, and efficiency,” he said.
Mr. Sarpong highlighted that the partnership aligns with the goals of the African Continental Free Trade Area (AfCFTA) and positions ADB as a key driver of intra-African commerce and financial inclusion.
He added that PAPSS eliminates the need for complicated currency conversions and costly international transaction fees, thus providing a direct and seamless payment experience in local currencies across participating countries.
“The days of convoluted currency conversions and exorbitant transaction fees are over. We encourage businesses and individuals to leverage PAPSS to transact directly and more efficiently across Africa,” he noted.
With ADB’s extensive branch network across Ghana, the bank is strategically placed to facilitate and support the growing demand for intra-African financial transactions, positioning itself as a crucial enabler of regional trade.
How PAPSS Works
PAPSS is a centralised payment and settlement infrastructure developed to simplify and accelerate cross-border payments on the continent. It enables real-time transactions in local currencies, significantly cutting down on exchange rate risks and transaction costs. Users can make payments directly to suppliers, partners, or customers in other African countries via the PAPSS platform.
For more information, customers can visit any ADB branch or contact ADB through the following numbers: 0302210210, 0302244043, 080010034. Email inquiries can also be sent to: [email protected].
Report By: Robicon Mornahson
