FAQs on the Pan-African Payments and Settlement System

In 2021, we witnessed the commencement of trade under the African Continental Free Trade Area (AfCFTA) regime as many countries in Africa ratified the AfCFTA treaty with the aim to boost the African economy through non-tariff barriers and cross-border trade.

The African Export-Import Bank (Afreximbank), whose vision and mission is to stimulate consistent expansion, diversification and development of African trade and similar to the objectives of the AFCFTA, recently partnered with the AFCFTA secretariat to roll-out the Pan-African Payments and Settlement System (PAPSS).

This FAQ explains what PAPSS is, the players in the system and the benefits of using PAPSS.

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