K254 AFCFTA Business Review

  AFRICAN CONTINENTAL FREE TRADE AREA SECRETARIAT PRIVATE SECTOR REGISTRATION PLATFORM AGREEMENT Kindly note that this platform is strictly for statistical and matchmaking purposes only. Registration is not mandated by Member States nor is it a requisite for trading under the AfCFTA The AfCFTA Private Sector Platform is designed to facilitate business connections, partnerships, and collaborations among businesses in the Private Sector of State Parties; These terms and conditions come into effect when you register to access AfCFTA’s Private Sector Platform to seek business opportunities, partnerships, and collaborations; “Participant” ,"You" or "your" means any juridical person in the Private Sector of a State Party accessing the AfCFTA Private Sector Platform ("Platform"). “State Party” means a Member State that has ratified or acceded to the AfCFTA Agreement. "The Secretariat”, “AfCFTA” “we", "us" or "our" means the Africa...

About PAPSS The Pan-African Payment and Settlement System – PAPSS is a centralized Financial Market Infrastructure that enables the efficient flow of money securely across African borders, minimizing risk and contributing to financial integration across the regions. PAPSS works in collaboration with Africa’s central banks to provide a payment and settlement service to which commercial banks and licensed payment service providers across the region can connect as ‘Participants’. Afreximbank and the African Union (“AU”) first announced PAPSS at the Twelfth Extraordinary Summit of the African Union held on July 7, 2019, in Niamey, Niger Republic, therefore adopting PAPSS as a key instrument for the implementation of the African Continental Free Trade Agreement (AfCFTA). Further, in its thirteenth (13th) extraordinary session, held on the December 5, 2020, the assembly of African Union recommitted and instructed the Afreximbank and the AfCFTA secretariat to finalize among others, work on th...

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  Afreximbank and AfCFTA announce the Operational Roll-out of the Pan-African Payment and Settlement System (PAPSS) Cairo and Accra, 28 September 2021:  – African Export-Import Bank (Afreximbank) and AfCFTA Secretariat announced today the operational roll-out of the Pan-African Payment and Settlement System (PAPSS), a revolutionary Financial Market Infrastructure to enable instant, cross-border payments in local currencies between African markets. By simplifying cross-border transactions and reducing the dependency on hard currencies for these transactions, PAPSS is set to boost intra-African trade significantly and underpin the implementation of the African Continental Free Trade Area (AfCFTA). PAPSS will serve as a continent-wide platform for the processing, clearing and settling of intra-African trade and commerce payments, leveraging a multilateral net settlement system. Its full implementation is expected to save the continent more than US$5 billion in payment transaction...