https://en.sputniknews.africa/20260726/1087834041.html

Regional Currency Swap Platform Could Transform Intra-Africa Trade, Says Industry CEO

Regional Currency Swap Platform Could Transform Intra-Africa Trade, Says Industry CEO

Sputnik Africa

Regional Currency Swap Platform Could Transform Intra-Africa Trade, Says Industry CEO Over 50 central banks and 135 commercial banks have signed onto the... 26.07.2026, Sputnik Africa

2026-07-26T12:16+0200

2026-07-26T12:16+0200

2026-07-26T12:24+0200

sputnik africa

https://cdn1.img.sputniknews.africa/img/07ea/07/1a/1087833882_0:0:1280:720_1920x0_80_0_0_69da3f3ec71688f9438a31ac6aebcc1f.jpg

Regional Currency Swap Platform Could Transform Intra-Africa Trade, Says Industry CEO Over 50 central banks and 135 commercial banks have signed onto the Pan-African Payment and Settlement System (PAPSS), a key step toward boosting intra-African commerce, East African Industries Association CEO Agnes Gitau told Sputnik Africa.The PAPSS system, developed by Afreximbank in coordination with the AfCFTA Secretariat, eliminates the need for dollar-denominated settlements by allowing instant cross-border payments in local currencies. "If we can implement it," Gitau said, "it will be a game-changer."Subscribe to @sputnik_africa Sputnik Africa | X

2026

News

en_EN

sputnik africa