日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
World
Home / World / Africa

African payment system welcomed as spur for trade

By OTIATO OPALI in Nairobi, Kenya | China Daily | Updated: 2021-09-30 10:29
Share
Share - WeChat
An ATM is seen in the banking hall at the Kenya Commercial Bank, Kencom branch in Nairobi, on July 10, 2018. [Photo/Agencies]

An Africa-wide payment system aimed at boosting trade within the region has come into service.

The initiative is backed by the African Export-Import Bank, or Afreximbank, and the secretariat of the African Continental Free Trade Area, or AfCFTA.

The Pan-African Payment and Settlement System, or PAPSS, which enables centralized payment and settlement, has been welcomed as providing a spur for intra-African trade.

The system was conceived by the African Union as a means of accelerating regional trade under the AfCFTA, a free-trade area that came into effect in January. The system will facilitate payments as well as formalize some of the unrecorded trade flows that result from the informal nature of much of cross-border trade in Africa.

Its backers say it will also provide alternatives to costly correspondent banking relationships to facilitate trade and other economic activities among African countries through a risk-controlled payment clearing and settlement system.

Benedict Oramah, chairman of the PAPSS management board and Afreximbank president, said that with the system's implementation, Africa can expect to begin to reap the fruits of the free-trade pact.

"The PAPSS is not positioned to replace existing regional and national payment systems but to collaborate and work with them in better integrating African economies for the benefit of all," Oramah said.

Wamkele Mene, secretary-general of the AfCFTA secretariat, said the system provides Africa with a greater capacity to conduct cross-border transactions and expand the scale of "both active and latent opportunities" for enhanced intra-African trade.

The African Union expects the system will serve as a continentwide platform for the processing, clearing, and settling of intra-African trade and commerce payments.

The PAPSS has been tested in the West African Monetary Zone with transactions done in an instant. To accelerate the system's expansion, Afreximbank has approved $500 million to support clearing and settlement in countries within the West African zone. An estimated additional $3 billion will be made available to support the implementation of the system across the continent.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 日本高清在线中文字幕网 | 欧美成人在线免费观看 | 日韩欧美国产精品第一页不卡 | 亚洲欧美韩国日产综合在线 | 国产精品一区在线观看你懂的 | 国产精品中文字幕在线 | 亚洲资源在线 | 亚洲欧美一级久久精品 | 久久视频免费 | 亚洲综合精品 | 国产日韩一区二区三区在线观看 | 99久久一香蕉国产线看观看 | 国产成人啪精品视频免费网站软件 | 国内一级一级毛片a免费 | 国产在线观看91一区二区三区 | 国产视频aaa | 欧洲成人综合网 | 国产无遮挡裸体免费视频 | 无码日本精品久久久久久 | 欧美午夜在线播放 | 成人年鲁鲁在线观看视频 | 日色视频| 操久久久 | 日本一级淫片免费看 | www91com国产91| 亚洲精品久久久久一区二区 | 99久久免费观看 | 91av官网 | 成人毛片视频在线观看 | 日韩精品小视频 | 久久久久久久影院 | 欧美日韩久久久 | 性xxxx免费观看视频 | 精品一区二区三区四区五区六区 | 国产成人三级 | 久久精品一本到99热免费 | 男人用嘴添女人下身免费视频 | 久久精品呦女 | 天天插天天射天天操 | 嘿咻嘿咻免费区在线观看吃奶 | 亚洲精品午夜国产va久久成人 |