AZA Finance has assured of increased collaborations and support for companies within Ghana’s financial and fintech ecosystem to grow and take full advantage of the Africa Continental Free Trade Agreement (AfCFTA).
This comes on the back of the recently launched Pan-African Payments and Settlement System – a revolutionary Financial Market Infrastructure to enable instant, cross-border payments in local currencies between African markets.
According to the company, for the financial and fintech ecosystem to adequately play its expected role under the African Continental Free Trade Area (AfCFTA), it would need to drive value creation by developing new technologies and scaling its payment infrastructure and methods to a pan African level to serve the diversified economies on the continent.
In an interview with Citi Business News, Country Manager of AZA Finance, Nana Yaw Owusu Banahene, noted that his outfit has put in place structures to significantly lower the cost and increase the speed of business payments to, from and across African markets by leveraging cutting edge technology.
“PAPSS is going to cover a big chunk of intra-African transactions but just like PAPSS, AZA is also going to help to formalise a lot of those cross board transactions. One of the main issues that we see is that when it comes to intra-African cross border transactions, most of those cross-board transactions are informal, people at the boarder exchanging money. We don’t want to see that happen. We don’t think it will support the African progress and integration in regions. So, what we do is that, we partner with regulated entities, banks mostly to bring those informal transactions to a more formal and regulated environment,” he said.
AZA Finance is a leading provider of cross-border payment solutions for businesses, FX and Treasury. Using their web and API platforms, they make it easier for enterprises to do business in Africas numerous countries.