Africa to save $5bn in payment transaction costs
Published On December 16, 2021 » 999 Views» By Times Reporter » Business, Stories
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By MAIMBOLWA MULIKELELA –
AFRICA is expected to save US$5 billion in payment transaction costs annually once the Pan-African Payment and Settlement System (PAPSS) is fully implemented. PAPSS has been rolled out by the African Export- Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) secretariat following a successful pilot phase in the six countries of the West African Monetary Zone (WAMZ).

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