PAPSS targets 100% African coverage within five years

The Pan-African Payment and Settlement System (PAPSS) has announced a target to achieve 100% coverage across African countries within the next five years. This initiative is part of its second strategic plan, which aims to streamline cross-border transactions and boost intra-African trade. PAPSS seeks to reduce reliance on external currencies and improve financial integration among African nations. The system is expected to facilitate faster and cheaper payment processing for businesses and individuals.

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