Tuesday, June 15

Tag: Settlements Systems

Afreximbank to pilot Pan-African Payments and Settlements System in April
Business

Afreximbank to pilot Pan-African Payments and Settlements System in April

The President of African Export-Import Bank (Afreximbank)  Prof. Benedict Oramah and the Secretary-General of the African Continental Free Trade Area (AfCFTA), Mr. Wamkele Mene has called on President Nana Akufo-Addo at the Jubilee House in Accra. As the Champion of the African Union Financial Institutions, the meeting was to brief President Nana Akufo-Addo on progress on the deployment of the Pan-African Payments and Settlements System (PAPSS), which is on track and scheduled to commence piloting in April and to be fully launched in June 2021. An update on transactions funded by Afreximbank in Ghana was also provided. Speaking at the meeting, Prof. Benedict Oramah said that Afreximbank had approved an amount of US$500 million to support the clearing and settlement for PAPSS ...
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