Cross-border trade between Nigeria and Ghana has taken a major leap forward with the launch of Africa’s first wallet-based outbound payment service that allows instant transfers directly in naira, without the need for hard currency conversion.
The pilot service, powered by Onafriq Nigeria Payments Ltd—a Central Bank of Nigeria (CBN)-licensed payment service provider, in collaboration with the Pan-African Payment and Settlement System (PAPSS), enables individuals, merchants and traders to send money seamlessly from Nigeria to Ghana through banks and mobile money operators.
Approved by the CBN, the initiative is designed to remove long-standing friction in intra-African payments, particularly for small and medium-sized enterprises (SMEs), which form the backbone of cross-border trade on the continent.
By eliminating delays, reducing costs and bypassing foreign exchange constraints, the service opens up faster and more affordable access to customers and suppliers across borders.
With fewer barriers to regional commerce, Nigerian and Ghanaian businesses can now expand their market reach and scale trading activity more efficiently. The pilot phase of the service will run for six months, beginning on December 1.
Through the partnership with PAPSS, Onafriq is supporting the operationalization of the AfCFTA (Africa Continental Free Trade Area) mandate. The mandate itself is driving tariff-free trade for the 54 member states of AfCFTA. Within the partnership itself, Onafriq provides the mobile money rails, with an ecosystem consisting of over 1 billion mobile wallets.
Meanwhile, PAPSS brings a network of over 160 commercial banks, representing an ecosystem of more than 400 million bank accounts across its 19 African countries of operation.
The two partners are essentially seamlessly connecting two worlds: mobile money and banking. As a consequence, intra-African trade transactions will take place more easily and opportunities will be created.
Currently, Africa is made up of bank and mobile-led markets, with siloes often inhibiting transactions between these economies. However, this partnership will remove these boundaries. With over one billion mobile wallets and 500 million bank wallets across Africa, this partnership will allow for cross-border collaboration at scale.
This partnership builds on Onafriq and PAPSS’ existing partnership for payments into Ghana, announced earlier this year.
Mxolisi Msutwana, Managing Director Anglophone West Africa said, “Our work with PAPSS shows what collaboration at scale can unlock—seamless, secure connections between banking systems and mobile money ecosystems. This is how we open bi-directional trade corridors, reduce costs for businesses, and give African enterprises the rails they need to trade with confidence in their own currencies. The vision is continental, but it starts with practical steps like this one.”
Ositadimma Ugwu, Chief Information Officer, PAPSS, added “Too often, African businesses and individuals see borders as roadblocks instead of opportunities. With this step, we’re challenging that mindset, giving Nigerians the ability to send value next door with the same ease as sending a text message. Our vision is simple: make Africa’s borders invisible to payments. This pilot makes that a reality, moving us closer to a continent where payments don’t pause at the border.”
This new Nigeria-to-Ghana outbound capability builds on the successful Ghana-to-Nigeria instant payments corridor launched earlier this year – further proof that Africa’s payments future is local, instant, and inclusive.
