President John Dramani Mahama has called for the full implementation of the Pan-African Payment and Settlement System (PAPSS) to unlock its potential as a catalyst for intra-African trade.
According to him, currency conversion requirements have long hindered African trade, and a coordinated solution is urgently needed to address the issue.
Speaking at the Accra Reset’s Addis Reckoning forum on the sidelines of the 39th Assembly of the African Union on Sunday, February 15, 2026, he linked payment reform to the broader Accra Reset agenda, which aims to dismantle structural dependencies embedded in Africa’s financial architecture.
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He questioned why small businesses in Accra must convert local currency into a third-party currency before paying their counterparts abroad.
“The Pan-African Payment and Settlement System is a thing whose time has come, and with urgency. I should be able to ship my goods to Kenya and get paid in cedis rather than a foreign currency,” he said.
President Mahama also emphasised the need to improve transport infrastructure to fully advance continental integration and ensure the free and seamless movement of goods and people.
He added that Africa’s development would yield shared global benefits, echoing remarks from international participants that African prosperity strengthens global prosperity.
SP/MA
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