New Payment System Seeking to Bolster Intra-African Trade Goes Live

A new continent-wide payment system that seeks to strengthen African fiat currencies, as well as to boost intra-Africa trade, recently went live. Discussions about onboarding more African countries are still ongoing. SMEs the Main Beneficiaries of the Payment System A new African payment system, the Pan-African Payment and Settlement System (PAPSS), recently went live in […]

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Africa Will ‘One Day Have a Common Currency’ Says Secretary General of African Continental Free Trade Area

The secretary-general of the African Continental Free Trade Area (AFCFTA) secretariat, Wamkele Mene, says Africa will “one day have a common currency” via a proposed “Pan-African Payment and Settlement System (PAPSS).” He adds that such a currency will help “ease constraints of settling intra-African trade in foreign-denominated currency.” Challenges Ahead In comments recently carried by […]

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