By Modupe Gbadeyanka

A new cross-border payment service that will initially pilot outbound transactions in Ghana has been launched by Onafriq with the support of the Pan-African Payment and Settlement System (PAPSS).

Onafriq has made this possible by leveraging PAPSS infrastructure and regulatory coverage to offer its fintech, mobile money, and traditional partners in Ghana unparalleled access to cross-border payment capabilities.

By participating in this arrangement, these partners benefit from the safeguards and efficiency of PAPSS’s framework. The African Export-Import Bank (Afreximbank) serves as the settlement entity, ensuring trusted and timely settlement between parties.

A statement from the organisation said the new cross-border payment service is with immediate effect, allowing banks partnering with PAPSS and Onafriq’s authorised fintech, mobile money service providers and traditional partners in Ghana to enable their customers to send and receive money directly into mobile wallets and bank accounts.

This is expected to address the existing challenges of high transaction costs and opaque exchange rates, while further integrating informal cross-border transactions into the formal payment systems. The primary emphasis of this new service will be on small and medium-sized enterprises (SMEs) and retail transactions.

The service will promote intra-African cross-border trade and enhancing financial inclusion, and improve financial interoperability by making transactions faster, more convenient, and cost-effective for SMEs and individuals.

“We are excited to be taking another step in operationalising our important partnership with PAPSS to bring this innovative cross-border payment solution to our users.

“This service is not just about convenience; it brings people together and enhances economic activity between Ghana and the region.

“We are dedicated to making financial services accessible to everyone and are proud to be at the forefront of this transformation. African borders are starting to matter less; this is Onafriq’s goal,” the chief executive of Onafriq, Mr Dare Okoudjou, said.

His counterpart at PAPSS, Mr Mike Ogbalu III, said, “Today marks a significant milestone in our journey towards a more integrated financial landscape in Africa.

“Our partnership with Onafriq represents a commitment to empowering SMEs and individuals by simplifying cross-border transactions. We believe this service will help reduce the liquidity burden on participants while fostering financial inclusion across the region.”

The six-month pilot program – approved by the Bank of Ghana (BoG) – will allow Onafriq and PAPSS to assess transaction flows, user adoption, and foreign exchange performance while delivering better rates and more accessible services to customers.

This launch deepens the long-standing collaboration between Onafriq and PAPSS and reinforces their shared commitment to building infrastructure that empowers African businesses, individuals, and financial institutions across the continent. The service will soon be available on mobile money and other fintech based wallets.

By Modupe Gbadeyanka

No fewer than 1,500 residents of Mokwa in Niger State affected by flood have received food packs from Fidelity Bank Plc under its Fidelity Food Bank Initiative.

The Fidelity Food Bank donation in Mokwa followed similar initiatives in areas affected by disasters.

The bank previously donated food and sanitary items to victims of a fire outbreak in Taraba State and provided cash and food to those affected by the Zaria Central Mosque collapse in 2023.

Recall that recently, several families were tragically displaced by flood in Mokwa, and Fidelity Bank, as part of its desire to help vulnerable communities across Nigeria, was available to offer its shoulders for victims to rest on.

The distribution of the food items was witnessed by government officials from Niger State, led by the First Lady, Mrs Fatima Umaru Bago.

Also present were the Secretary to the State Government, Mr Abubakar Usman Gawu; the Chief of Staff to the Governor, Mr Usman Abdullahi Gbatamangi; the Deputy Chief of Staff, Mr Yusuf Sadiq; the Commissioner for Budget and Planning, Mr Mustapha Ndajiwo; and the Commissioner for Education, Mrs Hannatu Jibril, among others.

Commenting on the donation, the Divisional Head of Brand and Communications at Fidelity Bank, Mr Meksley Nwagboh, said, “At Fidelity Bank, we believe corporate citizenship means standing by communities in their greatest time of need.

“We are honoured to support the people of Mokwa through the Fidelity Food Bank Initiative. This is more than just a relief effort — it’s a affirmation of our promise to always be there for the people and communities we serve, especially in challenging moments.”

“This donation reflects our collective responsibility to respond with compassion and urgency. The people of Mokwa are not alone — we share in their struggles, and we will continue to support them as they rebuild their lives,” he added.

By Modupe Gbadeyanka

The customer base of Bankit Microfinance Bank (MFB) is fast approaching the 100,000 threshold just weeks after surpassing the 50,000-mark in its early days of launch, a strong indication of growing trust, adoption, and momentum in the Nigerian digital banking space.

The brand’s commitment to offering real value, hassle-free services, and digital trust is clearly resonating with a wide demographic; from everyday individuals to small business owners and young digital natives looking for smarter ways to bank, especially at a time consumers of financial services are looking out for better options.

Backed by a solid financial base and strong liquidity, Bankit is not only earning customer loyalty but also industry-wide recognition as one of the most promising players in Nigeria’s fintech and microfinance space.

The lender’s rapidly growing user base is a testament to its reliability and relevance, especially in a market that demands simplicity, speed, and transparency.

Commenting on this development, the Chief Operating Officer of Bankit MFB, Mr Simpa Yekini, said, “Reaching this new milestone confirms what we’ve always believed; Nigerians are ready for a smarter, more accessible way to bank.

“We’re not just building a bank. We’re building trust, simplicity and value into every transaction.

”It is also very important to state that this rapid growth isn’t by chance. It’s the result of deliberate customer-centric innovation and a bold approach to financial services, one that puts the user at the heart of the experience.

”Since inception, we have offered free and seamless money transfers, fast and intuitive account setups, enhanced security with biometric login features, and a smooth, reliable interface that delivers convenience without compromise.”

Mr Yekini noted that with the company’s growing nationwide acceptance and surge in daily transaction volumes, the digital bank is confidently projecting to reach one million customers before the end of the year, a goal that now seems well within reach.