GCB Bank PLC has strengthened its commitment to Africa’s financial integration agenda by participating in a strategic workshop focused on improving cross-border payment systems across the continent.
The high-level engagement, held at the headquarters of African Export-Import Bank in Cairo, Egypt, brought together senior banking executives and financial sector leaders to discuss solutions aimed at removing transaction bottlenecks that continue to hinder intra-African trade.
The workshop formed part of broader efforts to support the implementation of the African Continental Free Trade Area (AfCFTA) by enhancing payment efficiency, expanding local currency transactions and strengthening collaboration among African financial institutions.
Participants examined practical ways to accelerate trade settlements, simplify payment processes for businesses and improve financial connectivity between African markets.
GCB Bank’s participation also highlighted its ongoing partnership with the Pan-African Payment and Settlement System, the continent-wide platform established to facilitate seamless cross-border payments in local currencies.
The bank remains the first financial institution to successfully process a live PAPSS transaction, a development considered a major milestone in Africa’s push toward an integrated payment ecosystem.
Discussions during the workshop focused on innovations within the PAPSS framework, including the PAPSS Local Currency System, the PAPSS Currency Marketplace, fintech integration and other digital payment solutions designed to ease settlements among African countries.
Managing Director of GCB Bank, Farihan Alhassan, stressed the importance of efficient payment systems in unlocking business opportunities across the continent.
He noted that reliable and faster payment infrastructure is essential for African businesses seeking to expand confidently beyond their domestic markets.
According to him, GCB Bank’s collaboration with PAPSS and Afreximbank is helping build the financial infrastructure needed to support trade growth and improve market access for African enterprises.
The GCB delegation also interacted with senior officials from Afreximbank and PAPSS, including George Elombi and Mike Ogbalu III.
The delegation was led by Farihan Alhassan and included senior executives from the bank’s wholesale banking, transaction banking, trade finance and financial operations divisions.
Through its continued engagement with regional financial institutions, GCB Bank says it remains focused on supporting trade facilitation, promoting financial innovation and helping businesses take advantage of emerging opportunities across Africa.
Established in 1953, GCB Bank is Ghana’s largest indigenous commercial bank, operating 183 branches and more than 340 ATMs nationwide.
Source: businesspostonline
