Pan-African Payment and Settlement System — continental payments infrastructure enabling transactions in local currencies with near-instant settlement to reduce intra-African trade costs, integrated into Ghana's digital trade corridor pilot.
… He emphasised that the continent has already laid the institutional foundations for integration through initiatives such as the African Continental Free Trade Agreement (AfCFTA), the Pan-African Payment and Settlement System (PAPSS), and the Intra-African Trade Fair. …
… The summit also emphasised opportunities under the African Continental Free Trade Area Digital Trade Protocol and the Pan-African Payment and Settlement System to reduce trade barriers, lower transaction costs, and boost intra-African trade. …
… Vice President Opoku-Agyemang said the framework would be integrated into the Pan-African Payment and Settlement System (PAPSS) and supported by a regulatory sandbox that allowed AfCFTA member states to participate without requiring a full legislative overhaul. …
… The announcement comes as African regulators and payment infrastructure providers intensify efforts to align financial systems under the African Continental Free Trade Area framework and the Pan-African Payment and Settlement System, which aims to enable local currency settlement …
… d through financial systems outside the continent and denominated in third currencies,” she said. “This adds costs and delays and undermines the very idea of a single African market.” She said ongoing efforts, including platforms like the Pan-African Payment and Settlement System …
… This becomes strategically significant in the context of the Pan-African Payment and Settlement System, developed by Afreximbank to facilitate intra-African trade. …
… The RTGS payments infrastructure was upgraded to ISO 20022 standards in November 2024, and Zimbabwe has joined the Pan-African Payment and Settlement System, which the Deputy Governor flagged as a mechanism for expanding intra-African trade in local currencies. …
GCB Bank has been named Regional Bank of the Year – West Africa at the 20th African Banker Awards in Brazzaville, Congo, recognition of the bank's market leadership, resilience, innovation and contribution to economic growth and financial inclusion in Ghana and the sub-region.
Why it matters
GCB Bank's recognition as West Africa Regional Bank of the Year affirms Ghana's banking sector leadership and contribution to economic growth.
GCB Bank has been named Regional Bank of the Year – West Africa at the 20th African Banker Awards in Brazzaville, Congo, recognition of the bank's market leadership, resilience, innovation and contribution to economic growth and financial inclusion in Ghana and the sub-region.
The AfCFTA Secretariat and Gabon have sealed a new implementation partnership to accelerate the country's participation in Africa's single market and convert its industrial and export potential into tangible trade. The agreement was reached during a visit by AfCFTA Secretary-General Wamkele Mene to Gabon, where he met with President Brice Clotaire Oligui Nguema and other officials.
S&P Global Ratings has assigned African Export-Import Bank a 'BBB+' long-term issuer credit rating and 'A-2' short-term issuer credit rating with Stable Outlook, reflecting the Bank's growing strategic importance, robust risk profile, and role supporting African trade and economic development. The ratings agency highlighted Afreximbank's policy relevance and shareholder support, noting that total assets expanded to $42.3 billion from $7.1 billion between 2015 and 2025, with shareholders' equity increasing to $8.4 billion from $1.3 billion.
The Pan-African Payment and Settlement System (PAPSS) is designed to address structural constraints in intra-African trade by enabling transactions in local currencies with near-instant settlement, reducing transaction costs and friction for businesses, particularly small and medium-sized enterprises.
Ghana's payments landscape is transforming toward a more connected and inclusive financial ecosystem through digital banking adoption, with institutions like Ghana Interbank Payment and Settlement Systems strengthening interoperability. United Bank for Africa Ghana positions digital innovation as central to making banking simpler, faster, and more accessible for individuals and businesses.
Ghana's financial sector is shifting toward digital banking and electronic payments, with institutions like Ghana Interbank Payment and Settlement Systems strengthening interoperability. United Bank for Africa Ghana says digital innovation is central to making banking simpler and more accessible for individuals and businesses.
Africa's fintech sector is forecast to hit US$65 billion by 2030 following 180 percent expansion since 2020, driven by mobile money platforms and digital wallets expanding financial inclusion; however, the sector faces threats from transaction taxes and regulatory uncertainty, with the IMF, World Bank and UN bodies warning that such levies could slow digital adoption.
Afreximbank will hold its 33rd Annual Meetings in El Alamein, Egypt in June, expecting more than 4,000 delegates to discuss how intra-African trade can accelerate industrialisation and strengthen economic sovereignty. The focus will be on building domestic industrial capacity and translating continental integration platforms like the AfCFTA into productive capacity and investible projects.
Afreximbank has declared that Africa's next phase of economic growth must be driven by intra-African trade, industrialisation, and greater economic sovereignty. The bank's 2026 Annual Meetings in Cairo will focus on 'Intra-African Trade as a Catalyst for Industrialisation and Economic Sovereignty,' emphasising the need to move beyond institutional frameworks to create actual industrial production capacity and investment projects.
The Governor of the Central Bank of Egypt announced that preparations are underway for Egypt to host the 33rd Annual Meetings of the African Export-Import Bank in New Alamein City in June, coinciding with the African Union Mid-Year Coordination Summit and the African Business Forum. He emphasized Egypt's strategic partnership with Afreximbank as the bank's largest shareholder and headquarters host, highlighting its support for African trade, industrialization, and financial cooperation.
Afreximbank will hold its 33rd Annual Meetings in El Alamein, Egypt, in June 2026, expected to attract more than 4,000 delegates to discuss how intra-African trade can accelerate industrialisation and strengthen the continent's economic sovereignty. The bank's president emphasised that Africa must move beyond reliance on commodity exports and external systems by building domestic industrial capacity.
Vice President Jane Naana Opoku-Agyemang spoke at the 3i Africa Summit 2026 in Accra, emphasizing digital integration, secure payment systems, and digital identity as key to Africa's economic progress. Ghana announced a partnership with Rwanda, Zambia, and other countries to pilot a Continental Digital Trade Corridor focused on mobile money interoperability and cross-border digital identity recognition.
Vice President Opoku-Agyemang announced Ghana's readiness to pilot a continental digital trade framework aligned with the African Continental Free Trade Area, aiming to boost cross-border digital transactions and strengthen Africa's digital sovereignty. The pilot will focus on mobile money interoperability, digital identity, KYC protocols, and harmonised invoicing, and will be integrated into the Pan-African Payment and Settlement System.
Ghana will partner Rwanda, Zambia and other African countries to test a continental digital trade corridor focused on cross-border payments, digital identity verification, and electronic invoicing. The pilot aims to improve intra-African transactions and position Africa within global digital economy frameworks.
Vice President Professor Naana Jane Opoku-Agyemang has outlined payments, identity, regulation and infrastructure as critical areas Africa must address to achieve full digital integration and unlock cross-border trade benefits. She emphasized moving from isolated progress to continent-wide scale, noting that intra-African transactions are often routed through systems outside the continent in third currencies, adding costs and delays.
Africa's fragmented cross-border payment systems are slow and costly compared to global averages, spurring interest in stablecoins as settlement infrastructure. The strategic question is whether African banks will institutionalize stablecoins within regulated frameworks or whether the infrastructure will continue to develop outside formal banking channels.
Zimbabwe's annual inflation rate has slowed to single digits for the first time in nearly four decades, according to the Reserve Bank of Zimbabwe, which credits the performance of the Zimbabwe Gold currency introduced in 2024. The central bank is actively promoting foreign investment across mining, agriculture, tourism, and manufacturing sectors as evidence of macroeconomic stabilization.