Depuis le lundi dernier, le Pan-African Payment and Settlement System (PAPSS) is operational for UBA Guinea. This is a flagship initiative of AfreximBank Banque africaine d' import-export () in collaboration with

PAPSS aims to revolutionize cross-border payments in Africa, facilitating commercial exchanges by allowing transactions in local currencies between African countries. It represents a major advance for trade and economic integration on the continent. By reducing dependence on hard currencies such as the euro and the dollar, the system promises to decrease transaction costs and speed up the settlement process. Through PAPSS, UBA Guinea is paving the way for its customers to take full advantage of this system. Bank customers can make and receive payments in local currency for cross-border transactions with other African countries participating in the system

As a reminder, PAPSS is actively used by several African countries, including Guinea, Ghana, Nigeria, Sierra Leone, Sierra Leone, Gambia, and Liberia, promoting closer integration and increased efficiency in their cross-border trade transactions. Likewise, the system is preparing to welcome new members in the near future, with the expected accession of Djibouti, Zimbabwe, Zambia, Kenya and Rwanda