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Tag "Pan-African payment and settlement system (PAPSS)"

Emefiele: Pan-African payment platform will reduce use of dollars, pounds in continent’s trade

    Emefiele: Pan-African payment platform will reduce use of dollars, pounds in continent’s trade

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says the pan-African payment and settlement system (PAPSS) will simplify cross-border transactions and reduce third currencies for intra-African trade. The

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Understanding the pan-African payment and settlement system (PAPSS) of the Afreximbank

    Understanding the pan-African payment and settlement system (PAPSS) of the Afreximbank

On September 28, 2021, the Afreximbank in conjunction with the African Continental Free Trade Area (AfCFTA) secretariat officially made the Pan-African Payment and Settlement System (PAPSS) available to be used

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CBN directs banks to adopt official FX rate for intra-African transactions

    CBN directs banks to adopt official FX rate for intra-African transactions

The Central Bank of Nigeria (CBN) has directed commercial banks to adopt the exchange rate in the importer and exporter window (I&E) for cross border payments through the Pan-African Payments

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Afreximbank launches pan-African payment platform to ease cross-border transactions

    Afreximbank launches pan-African payment platform to ease cross-border transactions

African Export-Import Bank (Afreximbank) has launched the pan-African payment and settlement system (PAPSS), a financial market infrastructure, to enable cross-border payments in local currencies across different markets in the continent.

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