• Home  
  • Algeria Joins Pan-African PAPSS Payment Network
- Breaking News - North Africa - World

Algeria Joins Pan-African PAPSS Payment Network

Featured image for Algeria Joins Pan-African PAPSS Payment Network

Algeria Joins the Pan-African Payment and Settlement System (PAPSS)

Algeria has become a member of the Pan-African Payment and Settlement System (PAPSS), a crucial initiative designed to streamline financial transactions across the African continent. This move signifies a significant step towards enhancing financial integration and boosting economic cooperation within Africa.

Expanding the PAPSS Footprint

The PAPSS announced the addition of the Central Bank of Algeria to its network on its social media platforms on July 31st. The announcement highlighted Algeria’s commitment to regional financial integration. This inclusion expands PAPSS’s reach to 18 countries spread across four African regions. The organization emphasized that this expansion represents a significant milestone in its mission to simplify cross-border payments and commercial settlements. By facilitating smoother and more efficient financial transfers, the partnership is expected to generate time and cost savings for businesses and financial institutions.

Keywords

Related Keywords: Algeria joins PAPSS, Algeria PAPSS, PanAfrican Payment and Settlement System, PAPSS, Algeria financial inclusion, African trade, crossborder payments Africa, Algeria banking, PAPSS implementation, Algeria news

    Leave a comment

    Your email address will not be published. Required fields are marked *

    About Us

    Silicon Africa is Africa’s Oldest and Most trusted online tech magazine.

    Email us: inbound@siliconafrica.com

    Contact: +228 92105147

    Empath  @2024. All Rights Reserved.