Media

Cairo, Egypt… 15 August 2025 – The Pan-African Payment and Settlement System (PAPSS) launched by African Export-Import Bank (Afreximbank) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has officially welcomed the Bank of Algeria into its growing network. Algeria now becomes the 18th country of presence for…

Cairo, Egypt… Monday 7 July 2025 – The Pan-African Payment and Settlement System (PAPSS) is pleased to announce the entry of the Kingdom of Morocco into its growing network, with Bank Al-Maghrib officially signing the PAPSS membership agreement. As a result, Morocco becomes the 17th country of presence, further solidifying the continent’s commitment to financial integration and…

ABUJA, NIGERIA – 7 July 2025 – Building on the successful rollout of its groundbreaking continental payment infrastructure, the Pan-African Payment and Settlement System (PAPSS), in strategic collaboration with Interstellar, a leading African deep-tech company, have announced the launch of the PAPSS African Currency Marketplace (PACM). The launch was announced on the sidelines of the…

Abuja, Nigeria, 30 June 2025 – Africa has marked a significant step towards financial independence following the launch of PAPSSCARD, the continent’s first Pan-African card scheme. Unveiled on June 27 at the 32nd Afreximbank Annual Meetings in Abuja, Nigeria, the new card represents a major leap in Africa’s efforts to achieve financial sovereignty by building resilient…

Cairo, Egypt, 05 March 2025 – The Pan-African Payment and Settlement System (PAPSS), launched by African Export-Import Bank (Afreximbank) 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…

Cairo, Monday 13, May 2024 – Promoters of the Pan-African Payment & Settlement System (PAPSS), namely African Export-Import Bank (Afreximbank or “the Bank”), 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,…

Cairo, Friday 08 March 2024 – The Pan African Payment and Settlement System (PAPSS) is pleased to announce the appointment of two highly esteemed professionals to its PAPSS Management Board. Mrs. Corine Mbiaketcha Nana and Mrs. Lebo Mokgabudi have been appointed as non-executive Directors, adding a wealth of knowledge and expertise to the board. Developed…

Cairo, Thursday 26 October 2023 – The Pan-African Payment and Settlement System (PAPSS), a groundbreaking initiative developed by the African Export-Import Bank (Afreximbank) to revolutionize cross-border payments and boost intra-African trade, today celebrates a significant milestone as it receives a historic endorsement from the Governors of the Central Banks in the Caribbean region. All eleven…

Accra, Wednesday 28 June 2023 – PAPSS, the Pan-African Payment and Settlement System, is delighted to announce the signing of Memorandums of Understanding (MOUs) with five African multinational commercial banking groups: Access Bank Group, Ecobank Group, KCB Group, Standard Bank Group, and UBA Group. These significant partnerships aim to revolutionise the settlement of cross-border transactions…

Cairo, Friday, 21 April 2023: The Pan African Payment and Settlement System (PAPSS) and the African Stock Exchanges Association (ASEA) have signed a Memorandum of Understanding (MoU) to enhance collaboration and cooperation in promoting cross-border payments of Capital Markets infrastructure in Africa on Friday, 14 April 2023. The MoU was signed during the ASEA 2023…

Accra, March 3, 2023: GCB Bank Plc, one of the largest banks in Ghana, today announced it successfully completed the first Pan-African Payment and Settlement System (PAPSS) client transaction in Ghana. The transaction involved a Ghanaian incorporated entity initiating a supplier payment from GCB in Ghana Cedis to a beneficiary in Nigeria who received the…

Lagos. Thursday, 2 March 2023: Nigerian Exchange Limited (“NGX” or “The Exchange”) and the Pan African Payment and Settlement System (“PAPSS”) have signed a Memorandum of Understanding (MoU) to facilitate cross-border payments and settlement of transactions of securities within countries integrated under the African Exchanges Linkage Project (AELP) on Tuesday, 28 February 2023. Developed by…