APD 2025: PAPSS Reaffirms Commitment to Strengthening Africa’s Cross-Border Payment System to Enhance AfCFTA
The Pan-African Payment and Settlement System (PAPSS) was launched to address Africa’s need for an independent clearing system, inspired by the continent’s ambitions for seamless trade integration, according to Deputy CEO John Bosco.
Speaking at a PAPSS session during the ongoing African Prosperity Dialogue 2025 (APD 2025), themed “Accelerating AfCFTA Implementation Through Payments: Leveraging PAPSS for Enhanced Cross-Border Trade in Africa,” Mr. Bosco reaffirmed PAPSS’s commitment to facilitating intra-African trade under the African Continental Free Trade Area (AfCFTA).
“PAPSS was started because we took inspiration from the fact that Africa needed its own clearing system. AfCFTA forms one of the biggest trading regions in the world, and PAPSS is ever ready to give it full support,” he stated.
“Accelerating AfCFTA Implementation Through Payments: Leveraging PAPSS For Enhanced Cross Border Trade in Africa”
A Unified Payment System for Africa’s Single Market
PAPSS is a cross-border financial market infrastructure designed to enable real-time, cost-effective payment transactions across Africa.
It eliminates reliance on third-party currencies and international intermediaries, reducing transaction costs and boosting trade efficiency.
The system provides a unified African payment solution for governments, banks, payment providers, corporates, small enterprises, and individuals.
Africa Prosperity Dialogues: A Catalyst for Trade and Investment
The Africa Prosperity Dialogues (APD) is a high-level strategic platform bringing together Africa’s political, business, and thought leaders to drive the continent’s economic integration in line with the African Union’s Agenda 2063.
Organised by the Africa Prosperity Network (APN) in partnership with the AfCFTA Secretariat, APD champions actionable policies and bankable projects to unlock Africa’s $3.4 trillion market potential.
With the theme “Delivering Africa’s Single Market through Infrastructure: Invest. Integrate. Connect”, APD 2025 provides a crucial forum for high-level networking, investment discussions, and policy alignment aimed at transforming Africa’s trade landscape.
