Un communiqué de presse a annoncé l' entrée du Kingdom of Morocco in the rapidly expanding network, to the Pan-African Payment and Settlement System (Papss). Thus, Al-Maghrib Bank officially signed the Papss membership agreement

Morocco becomes the ^17th country with a presence in the Pan-African Payment and Settlement System (PAPSS), as well as more than 150 commercial banks and 14 switches. Its membership reinforces the continent's commitment to financial integration and intra-African trade within the framework of the African Continental Free Trade Area (AfCFTA). According to the statement, by welcoming Bank Al-Maghrib, Papss is continuing its mission of connecting African central banks and facilitating cross-border trade, payment flows and investments across the continent. Papss is set up by the African Export-Import Bank (“Afreximbank”), in partnership with the African Union and the AfCFA Secretariat. It allows cross-border payments in real time, efficient and profitable in local currencies

According to Mike Ogbalu III, CEO of Papss, “Morocco's accession as the seventeenth country of presence testifies to the growing momentum and the trust placed in Papss as a solution to the challenges associated with cross-border payments in Africa. With more and more countries joining, we are making significant progress towards a truly unified African market, which reduces transaction costs and empowers businesses and individuals across the continent