By Fabian Ekeruche and Vivian Ihechu
The African Continental Free Trade Area (AfCFTA) Secretariat says the commercial roll-out of the Pan-African Payment & Settlement System (PAPSS) will save Africa up to US$5 billion dollars annually.
The Secretary General of AfCFTA, H.E Wamkele Mene, made the remarks on Thursday at the Commercial Launch of the PAPSS in Accra, Ghana, which held virtually and physically.
The News Agency of Nigeria (NAN) reports that PAPSS is a cross-border, financial market infrastructure enabling payment transactions across Africa.
PAPSS ensures instant or near-instant transfer of funds between originators in one African country and beneficiaries in another.
Mene said, “The great liberation struggle heroes of our continent over 60 years ago had a vision of an integrated market in Africa are rejoicing today because the dream of an integrated Africa is becoming a reality in our lifetime.
“How fitting it is, therefore, that the commercial launch of…
Source: News Agency of Nigeria
