Pan African Payment and Settlement System (PAPSS) Expands into North Africa as Banque Centrale de Tunisie Becomes Thirteenth Member

The Pan African Payment and Settlement System (PAPSS) is proud to announce the entry of Banque Centrale de Tunisie (BCT) into its network as its thirteenth Central Bank member, further strengthening its commitment to promoting seamless cross-border payment services and enhancing financial integration across the African continent.   PAPSS, developed by African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, facilitates real-time settlement of intra-African trade and payments, in African currencies, across the continent. By uniting central banks from across Africa, PAPSS seeks to address…

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South Africa to launch the start of its preferential trade under the African Continental Free Trade Agreement (AfCFTA) in Durban on Wednesday 31 January

Trade under the new preferences set out in the African Continental Free Trade Agreement (AfCFTA) will be launched by President Cyril Ramaphosa and the Minister of Trade, Industry and Competition of South Africa, Ebrahim Patel on Wednesday 31 January 2024 at Pier 1 in Durban. This follows the publication on Friday 26 January in the Government Gazette of the terms under which South Africa will participate in the new free trade agreement. Twelve countries, including South Africa, have finalised their legal modalities to enable trade to commence in thousands of…

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