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PAPSS Announces the Appointment of Two New Board Members to its Management Board
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 by African Export-Import Bank (Afreximbank) in partnership with the African Union and the AfCFTA Secretariat, PAPSS enables seamless cross-border transactions, reducing costs and enhancing efficiency for businesses and individuals across the continent. The PAPSS Governing Council (PGC), highest regulating organ of PAPSS made up of Central Bank Governors of participating countries as members, has reviewed and approved the appointment of the new Directors.
Mrs. Corine Mbiaketcha Nana, a respected business leader from Cameroon, brings over 22 years of experience in the technology and finance sectors. Her impressive career includes executive roles in Western, Central, and Eastern Africa, with notable stints at Oracle and Visa. During her time at Visa, she played a key role in promoting cashless payments and driving innovation in the region.
Mrs. Lebo Mokgabudi, a seasoned Digital Finance Services expert from South Africa, has a proven track record of developing successful digital payment solutions in Sub-Saharan Africa. Currently serving as a Consultant for Digital Financial Services at the International Finance Corporation (IFC), she offers extensive leadership skills and corporate governance experience from her previous roles at companies like Mastercard, Visa, and Gemalto.
Commenting on the new appointments, Mr. Mike Ogbalu III, CEO of PAPSS, said: ” We are honored to have Mrs. Corine Mbiaketcha Nana and Mrs. Lebo Mokgabudi join the PAPSS Management Board. Their expertise in technology and finance will be instrumental as we work towards enhancing economic integration and facilitating cross-border transactions in Africa.”
Mrs. Mbiaketcha and Mrs. Mokgabudi will collaborate with the current board members, who possess in-depth knowledge of the African financial landscape. Together, they will strive to fulfil PAPSS’s mission of delivering efficient and secure cross-border payment solutions for the continent. The addition of these two accomplished professionals is expected to bolster the management team and bring fresh perspectives to drive PAPSS towards becoming the leading payment and settlement system in Africa.
About PAPSS
The Pan-African Payment and Settlement System – PAPSS is a centralized Financial Market Infrastructure that enables the efficient flow of money securely across African borders, minimizing risk and contributing to financial integration across the regions. PAPSS works in collaboration with Africa’s central banks to provide a payment and settlement service to which commercial banks and licensed payment service providers across the region can connect as ‘Participants’. Afreximbank and the African Union (“AU”) first announced PAPSS at the Twelfth Extraordinary Summit of the African Union held on July 7, 2019, in Niamey, Niger Republic, therefore adopting PAPSS as a key instrument for the implementation of the African Continental Free Trade Agreement (AfCFTA). Further, in its thirteenth (13th) extraordinary session, held on the December 5, 2020, the assembly of African Union recommitted and instructed the Afreximbank and the AfCFTA secretariat to finalize among others, work on the Pan-African Payments and Settlements System (PAPSS). The 35th Ordinary Session of the Assembly of the AU, further directed the AfCFTA and Afreximbank to deploy the system to cover the entire continent. PAPSS was officially launched in Accra, Ghana on January 13, 2022, thus making it available for use by the public.
For more information, visit: www.papss.com.
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Media Contact: Papa Samba Thiongane, communications@papss.com