Depuis le lundi 9 septembre 2024, la African Export-Import Bank (AfreximBank) has adopted& eacute; the Pan-African Payment and Settlement System (PAPSS) with the collaboration of the African Union

The Pan-African Payment and Settlement System (PAPSS) is now operational for UBA Guinea. It is a system that aims to revolutionize cross-border payments in Africa, facilitating trade by allowing transactions in local currencies between African countries. The PAPSS represents a major advance for trade and economic integration on the continent. By integrating PAPSS, UBA Guinea is paving the way for its customers to fully benefit from this system. Starting now, the bank's customers can make and receive payments in local currency for cross-border transactions with other African countries participating in the system. This functionality is essential for large companies as well as for SMEs and entrepreneurs, who are looking to explore new markets without being held back by currency conversion constraints

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