By: Robert
Kwaku Annor
The Pan-African Payment and
Settlement System (PAPSS) and the West African Monetary Institute (WAMI) have
renewed their Memorandum of Understanding (MoU) to strengthen regional payment
integration and financial inclusion across the West African Monetary Zone
(WAMZ).
The renewed agreement
reaffirms a strategic partnership aimed at advancing cross-border payment
solutions and enabling businesses and individuals to transact more seamlessly
in African local currencies.
The agreement was
represented by Mike Ogbalu III, Chief Executive Officer of PAPSS, and Dr
Abdulsalam Sikiru Abidemi, Director General of WAMI.
According to PAPSS, the
renewed partnership builds on years of collaboration, with WAMI playing a key
role in supporting the adoption of efficient cross-border payment solutions
across the region.
As PAPSS continues to expand
its network, the partnership will strengthen efforts to drive adoption and
utilisation across key markets, including Nigeria, Ghana, Sierra Leone, The
Gambia, Liberia and Guinea.
The initiative is expected
to support more seamless transactions in local currencies, helping businesses
and individuals make cross-border payments while strengthening financial
connections across the region.
