Pesalink, PAPSS ink deal to simplify cross-border payments
The partnership enables instant, 24/7 transfers from PAPSS participants directly into banks and mobile money operators on the Pesalink network in Kenya, all settled in local currencies. Kenya breaking news | Kenya news today |..
✨ Key Highlights
Pesalink, Kenya's instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to streamline cross-border payments across Africa.
- This collaboration enables instant, 24/7 transfers in local currencies, bypassing traditional correspondent banking.
- Key players include Pesalink, PAPSS (an Afreximbank initiative), and the AfCFTA Secretariat.
- The partnership aims to reduce the high costs and slow settlement times, which currently average 7-8% and three to seven business days respectively for intra-African transfers.
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Treasury Moves to Tame Predatory Digital Lenders - February 2026
The Kenyan National Treasury is implementing new measures to regulate predatory digital lenders, aiming to protect consumers from exorbitant interest rates and unethical practices. At the same time, Treasury Cabinet Secretary John Mbadi has submitted key documents to Parliament regarding the proposed sale of 15% of the government's stake in Safaricom to Vodacom South Africa. Additionally, Naphtaly Kipchirchir Rono has been appointed the new Director-General of the Financial Reporting Centre (FRC) for a six-year term. Separately, Pesalink, Kenya's instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to streamline cross-border payments across Africa.
