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Pan-African Payment and Settlement System

Deploying Innovative Payment Systems to Boost Intra-African Trade

October 9, 2023

Africa boasts immense economic potential, yet this potential has long been constrained by trade and payment barriers. According to the African Development Bank (AfDB), nearly half of intra-African trade settlements rely on foreign banks and the US dollar, highlighting the …

AfCFTA: Why is the Pan-African Payment and Settlement System Important?

Lanre Peter

June 20, 2022

The implementation of the African Continental Free Trade Area (AfCFTA) has the potential to revolutionize the continent’s economy and spur innovation. The primary goals of the AfCFTA, which has been signed by 54 African states, is to increase the amount …