October brought a new country onto Africa's payment rails, a clear diagnosis of why cross-border payments still fail, a fresh port proposal in West Africa and an upgraded growth outlook for the region. Here is what changed and what it means in practice for anyone exporting to or investing in Sub-Saharan Africa.
Ethiopia joins the PAPSS payment network
On 15 October the National Bank of Ethiopia and the Pan-African Payment and Settlement System (PAPSS) announced that Ethiopia has joined the network, according to a release published by African Newspage. Ethiopian financial institutions can now connect to PAPSS and make cross-border payments with institutions across Africa. The announcement was made at the Ethiopia Finance Forum in Addis Ababa. PAPSS also confirmed that its annual payments conference, COWRY 2026, will take place on 26 and 27 November in Addis Ababa, with more than 1,000 delegates expected.
The release does not say which Ethiopian banks will connect first or when live transactions begin, so do not assume your buyer's bank is ready. If you sell to Ethiopia, ask your customer which bank they use and whether it is connected before you agree payment terms. For investors in payments and trade technology, the conference is a useful place to meet the network's participants.
The African Union says payment rules, not rails, are the problem
Speaking in Nairobi, Dr. Patrick Olomo of the African Union Commission said that digital payment systems can already move money across borders, but fragmented national regulation stops them working smoothly. In his words, "the rails exist; the payment fails at the border because the rules do not travel with it", as The Sun Nigeria reported on 6 October. The proposed harmonisation framework could need a US$120 million implementation fund and a binding African Union legal instrument, and would roll out over ten years. The same report puts the average cost of remittances to sub-Saharan Africa at 7.9 percent, against a 3 percent development target, and notes that funding and ownership of the work are still unresolved.
This is a proposal, not a rule change, and a decade-long timeline means no near-term relief. Practically, plan for payment friction on intra-African and cross-border sales, favour corridors where a connected network already exists, and build payment costs into your pricing.
DP World explores a deep-sea port and economic zone in Nigeria
DP World, the Ogun State Government and Ogun Deep Sea Port Company signed two memorandums of understanding on 5 October to explore a greenfield deep-sea port and special economic zone in Ogun State, along the Lagos-Calabar Coastal Highway, Marine Insight reports. The site covers 10,000 hectares, and the governor said the projects would provide more than 50,000 direct jobs. No investment figure or timeline was given for this project.
An MoU to explore is an early step, and many such projects take years or never reach construction. For exporters, nothing changes in your shipping routes today. For investors, it signals continued private-sector interest in Nigerian port capacity and industrial zones. Our market entry support includes comparing port and corridor options for a given product.
World Bank upgrades its Sub-Saharan Africa growth forecast
The World Bank's 6 October regional update projects growth of 4.3 percent in 2026, up from 4.1 percent in 2025 and 0.3 percentage points above its April forecast. Forecasts were upgraded for nearly three-quarters of countries, including Angola, Ethiopia, Nigeria and Zambia. The Bank also projects median inflation rising from 3.7 percent to 5.5 percent in 2026, and lists trade policy uncertainty, Middle East tensions, climate shocks and tighter financing among the risks.
Stronger growth supports import demand, but higher inflation and tight financing can squeeze buyers' margins and their access to foreign currency. Check a buyer's payment record carefully, and consider staged payments or documentary protection for larger first orders. Our partnership network can help you find established regional distributors.
Each of these developments affects specific countries and products differently. If you want a straight read on how payments, ports or macro changes affect your target market, contact MRX and we will respond within one business day.