Lagos, Nigeria, 2 December 2025 – The inaugural PAPSS COWRY Conference convened in Lagos this week with a resolute call for enhanced financial integration across the continent, as African Continental Free Trade Area (AfCFTA) Secretary-General H.E. Wamkele Mene emphasised the critical role of the Pan-African Payment and Settlement System (PAPSS) in advancing Africa’s economic agenda.

Addressing the opening ceremony as Distinguished Guest of Honour, H.E. Mene characterised PAPSS as a cornerstone of Africa’s financial sovereignty. He observed that the platform enables instant settlement of cross-border transactions in local currencies, reduces payment costs, and strengthens the foundations of a more integrated African market, reinforcing the conference theme: “Building an Interoperable and Sovereign African Payment Ecosystem for Trade and Economic Growth.”

The gathering, the first under the PAPSS COWRY banner, convened policymakers, financial sector leaders, payment experts and continental institutions to deliberate on the future of Africa’s payments landscape. Discussions underscored that interoperable, secure and cost-effective payment systems are essential to accelerating AfCFTA implementation and facilitating smoother, more predictable cross-border trade.