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Local banks bet on Pan-African payment system to spur trade

From left: KCB Group CEO, Paul Russo, Trade Cabinet Secretary Lee Kinyanjui and PAPSS CEO, Mike Ogbalu III, during the launch of the Pan-African Payment & Settlement System in Nairobi, on February 27, 2025. [Wilberforce Okwiri,Standard]

Kenya's leading lenders KCB Group and Equity Group, are strategically aligning with the Pan-African Payment and Settlement System (PAPSS) to capitalise on burgeoning intra-African trade.

They view the platform as a key to unlocking growth as regional integration efforts gain momentum and global trade dynamics shift.

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