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…
Cairo, 19th December 2022: PAPSS, the Pan-African Payment & Settlement System, today announces its certification against ISO27701:2019, an international standard for Privacy Information Management System. This just comes four months after achieving ISO 27001 certification, demonstrating PAPSS’ ongoing commitment to ensure stakeholders data collected and received for transaction processing are managed, shared and disposed in compliance with…
Cairo, 19th July 2022: The Pan-African Payment and Settlement System (PAPSS) operated by African Export-Import Bank (Afreximbank) in collaboration with the African Continental Free Trade Area (AfCFTA) Secretariat and the African Union (AU), announced today that it has achieved the International Organisation for Standardisation (ISO) 27001 certification for its global operations. Following an external certification…
A delegation of Afreximbank led by Professor Benedict Oramah, President and Chairman of the Board of Directors of Afreximbank and Chairperson of PAPSS Management Board, attended the 35th Summit of the African Union (AU) Assembly of Heads of State and Government that took place from 5–6 February 2022 in Addis Ababa, Ethiopia. The Summit was…
Cairo, 26 April 2022: The Pan-African Payment and Settlement System (PAPSS) operated by African Export-Import Bank (Afreximbank) in collaboration with the African Continental Free Trade Area (AfCFTA) Secretariat, announced today the signing of a Memorandum of Understanding (MoU) with BUNA, the cross-border and multi-currency payment system owned by the Arab Monetary Fund (AMF). Interoperability among…
Cairo and Accra, 28 September 2021: – African Export-Import Bank (Afreximbank) and AfCFTA Secretariat announced today the operational roll-out of the Pan-African Payment and Settlement System (PAPSS), a revolutionary Financial Market Infrastructure to enable instant, cross-border payments in local currencies between African markets. By simplifying cross-border transactions and reducing the dependency on hard currencies for…
