Unlocking Africa’s Economic Potential: PAPSS and Interstellar Launch the African Currency Marketplace
A significant leap forward for African commerce has been made with the unveiling of the PAPSS African Currency Marketplace (PACM). This transformative financial market infrastructure (FMI), a collaborative effort between the Pan-African Payment and Settlement System (PAPSS) and Interstellar, a leading African deep-tech firm, aims to dismantle a persistent $5 billion trade bottleneck. Announced on the sidelines of the 2025 Afreximbank Annual Meeting (AAM2025) in Abuja from June 25 to 28, this initiative underscores a profound commitment to achieving financial sovereignty and fostering seamless intra-African trade under the African Continental Free Trade Area (AfCFTA) framework.
Dismantling the $5 Billion Currency Bottleneck
For decades, the complex landscape of Africa’s 41 distinct currencies, coupled with fragmented financial systems, has imposed substantial barriers on cross-border commerce. Businesses across the continent have been compelled to rely on external “hard” currencies, primarily the US dollar or the euro, for their foreign exchange needs. This reliance has not only introduced considerable friction but has also incurred an estimated $5 billion annually in operational fees, delays, and lost economic opportunities. This pervasive “hard and costly currency bottleneck” has demonstrably stifled the growth of intra-African trade, which currently accounts for a mere 14.4% of Africa’s formal trade activities. The PACM is specifically designed to address this critical impediment, offering an indigenous solution to a long-standing challenge.
The PAPSS African Currency Marketplace stands to revolutionize how cross-border transactions are conducted within Africa. By providing an efficient, continent-wide platform for direct currency exchange, it promises to reduce transaction costs, accelerate payment flows, and empower African businesses to trade more freely with one another. This homegrown solution, championed by PAPSS and Interstellar, represents a pivotal stride towards a more integrated and prosperous African economy, fostering economic independence and bolstering the AfCFTA’s vision for a unified continental market.
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