Bank of Central African States Joins New Pan-African Payment & Settlement System
21:09 10.07.2026 (Updated: 21:24 10.07.2026)
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Bank of Central African States Joins New Pan-African Payment & Settlement System
As a result, Pan-African Payment and Settlement System (PAPSS) now connects 28 African countries, more than 190 banks and financial organizations, opening access to 250 additional institutions.
The move is expected to accelerate transactions without the need for foreign currencies.
Joining PAPSS will enable faster, more affordable and more efficient cross-border payments across CEMAC and the rest of Africa, Yvon Sana Bangui, the governor of the bank, emphasized.
Benefits of joining PAPSS include:
▪ Faster transactions;
▪ Reduced costs;
▪ Better access to regional markets.
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