Tag: PAPSS

Afreximbank to double intra-African trade financing to $40 billion by 2026

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Afreximbank had been a champion in facilitating intra-African trade since its founding and that it had committed US$1 billion to support the funding of the AfCFTA Adjustment Fund African Export-Import Bank (Afreximbank) (www.Afreximbank.com) plans to double its financing of intra-African trade from US$20 billion in 2021 to US$40 billion by 2026, Mr. Haytham ElMaayergi, Afreximbank’s Executive Vice President, Global Trade Bank, has said.   Mr. ElMaayergi was addressing participants and guests in Abuja at the African Caucus Meeting of the World Bank Group and the International Monetary Fund (IMF), from August…

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Pan-African Payment & Settlement System (PAPSS) Hosts its Inaugural Bank Chief Executive Officers Consultative Forum

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Système Panafricain de Paiement et de Règlement (PAPSS) Accueille son Premier Forum Consultatif des PDG de Banque

Participants at the Forum agreed to take collective ownership of the success and the future of PAPSS given its significant and hugely positive impact on the facilitation of cross-border payments and the development of intra-African trade Promoters of the Pan-African Payment & Settlement System (PAPSS), namely African Export-Import Bank (Afreximbank or “the Bank”) (https://www.Afreximbank.com), African Union Commission (AUC) and African Continental Free Trade Area (AfCFTA) Secretariat, successfully organized the first Consultative Forum of CEOs of African Banks bringing together executives of African commercial banks, bankers’ associations, payment switches, the association…

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

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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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