October 2024 — Afriland First Bank Liberia successfully launched the Pan-African Payment and Settlement System (PAPSS) in Liberia, bringing a major boost to regional trade and financial inclusion. 

PAPSS is a Pan-African payments platform designed to make cross-border transactions faster, easier, and more affordable. Through this system, individuals and businesses can send money anywhere within Africa in their local currency, and recipients receive it instantly in their own currency — eliminating unnecessary delays and the high costs traditionally associated with international transfers. 

In Liberia, this innovation helps address a specific challenge faced by traders and travelers: the difficulty of finding the much-sought-after “big head” — a particular type of 100 USD note that traders often prefer for travel and transactions. With PAPSS, users can now send funds directly without relying on physical cash, reducing the hassle, risk, and costs of carrying large amounts of foreign currency. 

The rollout of PAPSS aligns with Afriland First Bank Liberia’s commitment to modernizing financial services and supporting intra-African commerce. By enabling seamless cross-border transfers in local currencies, the Bank is empowering businesses, enhancing trade efficiency, and promoting economic growth across the region. 

Customers interested in using PAPSS can visit any Afriland First Bank Liberia branch or contact the Bank’s customer service team for more details.