Africa
…to enable seamless, affordable cross-border payments across Africa
WITH this launch, businesses and individuals can benefit from faster, more cost-effective, and secure payments without relying on correspondent banks or third-party currencies
The Pan-African Payment and Settlement System (PAPSS), launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has recorded a significant milestone in its journey towards enhancing financial integration and economic prosperity across Africa with the official launch of the platform by KCB Group in Kenya and Bank of Kigali in Rwanda.
The launches, by the Bank of Kigali in Kigali on 26th February and KCB in Nairobi on 27th February, made the two banks the first in their respective countries to integrate the transformative system into their operations, underscoring their commitment to championing intra-African trade and supporting the efforts of the AfCFTA.
The Pan-African Payment and Settlement System (PAPSS), launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has recorded a significant milestone in its journey towards enhancing financial integration and economic prosperity across Africa with the official launch of the platform by KCB Group in Kenya and Bank of Kigali in Rwanda.
The launches, by the Bank of Kigali in Kigali on 26th February and KCB in Nairobi on 27th February, made the two banks the first in their respective countries to integrate the transformative system into their operations, underscoring their commitment to championing intra-African trade and supporting the efforts of the AfCFTA.
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