Ghana’s largest indigenous bank joined senior leaders from Africa’s banking and financial sector in Cairo this week for a high-level workshop aimed at dismantling cross-border payment barriers that continue to hinder trade across the continent.
GCB Bank PLC attended the strategic engagement workshop hosted at the headquarters of the African Export-Import Bank (Afreximbank), where discussions centred on accelerating trade settlements, expanding local currency transactions and deepening financial connectivity among African markets under the African Continental Free Trade Area (AfCFTA).
The bank brought a full senior delegation to the Egyptian capital, led by Managing Director Farihan Alhassan and including Executive Director for Wholesale and Investment Banking Abdulsalam Alhassan, Head of Financial Institutions and International Organisations Andrews Adu-Osei Jnr, and Head of Transaction Banking Stephen Kwesi Biney, among others.
The delegation held direct engagements with Afreximbank President and Chairman of the Board of Directors George Elombi and Pan-African Payment and Settlement System (PAPSS) Chief Executive Officer Mike Ogbalu III, signalling the level of institutional weight both sides attach to the agenda.
GCB Bank’s position in these discussions carries particular significance. The bank remains the first financial institution to have successfully processed a live PAPSS transaction, a milestone that established it as a foundational player in Africa’s emerging cross-border payment architecture.
Workshop discussions focused on new developments within the PAPSS ecosystem, including the PAPSS Local Currency System, the PAPSS Currency Marketplace, fintech integration and digital tools designed to simplify settlement flows between African countries. These innovations directly address the long-standing reliance on external correspondent banks and third currencies that inflate the cost of intra-African trade.
Alhassan said payments “must become easier, faster and more reliable” for African businesses to grow confidently across borders.
He added that GCB Bank’s collaboration with PAPSS and Afreximbank was building the infrastructure needed to connect markets and open new avenues for African businesses to scale.
GCB Bank PLC was established in 1953 and today operates 183 branches and more than 340 automated teller machines (ATMs) across Ghana. It has consistently positioned itself at the centre of Africa’s trade finance and payment integration agenda, making its Cairo presence a continuation of that strategic commitment rather than a departure from it.
