Page 35 - Settlement System News Today

THE Reserve Bank of Zimbabwe (RBZ) has started implementing the Pan-African Payment and Settlement System (PAPSS) aimed at connecting all banks, non-bank financial institutions, switches, and regional systems to enhance cross-border payment across the continent. The system, expected to save the continent US$5 billion annually in transaction costs, is being promoted by the African Export…

Leading Credit Rating Agencies Affirm Afreximbank’s International Scale Long and Short-term Issuer Ratings of A/A2 and A-, with “Stable” Outlook

What are the biggest challenges ahead of the banking space in Nigeria, especially Northern Nigeria?

Africa Business Communities

PAPSS under spotlight as CBN sets transaction limits

The CARICOM office of the Afreximbank Bank was officially opened on August 4th, 2023, while reaffirming the US$1.5 billion credit limit made available to support eligible CARICOM States.

President and Chairman of the Board of Directors of African Export-Import Bank (Afreximbank),  Prof. Benedict Oramah, in company of Mia Amor Mottley, Prime Minister of Barbados, Ralph Gonsalves, Prime Minister of St. Vincent and the Grenadines, Phillip Pierre, Prime Minister of St. Lucia,  Dickon Mitchell, Prime Minister of Grenada,  President Olusegun Obasanjo, Former President of […]

This is an excerpt from The Future of Fintech in Africa 2023 report. African fintech has been white-...

The Central Bank of Nigeria(CBN) has limited the number of dollars to be transacted on the Pan-African Payment and Settlement System (PAPSS) to $200,000 per

In June 2023, African countries achieved a milestone in separating from Western financial institutions. The African Export-Import Bank (Afreximbank), in