CG
Payment trends and fintech news from CG
BEAC Joins Pan-African Payment System to Reduce Trade Costs
The Bank of Central African States (BEAC) has integrated with the Pan-African Payment and Settlement System (PAPSS), enabling cross-border trade settlements in local currencies for its six member nations. This move aims to lower transaction costs and times, supporting the broader goals of the African Continental Free Trade Area.
BEAC Joins PAPSS, Accelerating Cross-Border Payments Integration in Central Africa
The Bank of Central African States (BEAC) has joined the Pan-African Payment and Settlement System (PAPSS), integrating the CEMAC region into a continent-wide platform for local currency transactions. This central bank-led initiative aligns with a wave of private sector activity, including new remittance corridors and stablecoin pilots, aimed at reducing the cost and complexity of cross-border payments in Africa.
Central African Central Bank Joins PAPSS, Expanding Pan-African Payments Network
The Bank of Central African States has joined the Pan-African Payment and Settlement System, integrating the six-nation CEMAC economic bloc into the continent's cross-border financial network. The move advances the African Union's strategy to facilitate cheaper and faster intra-African trade settlements using local currencies.
Esca Finance Partners with MANSA for Same-Day African Payment Settlements
Esca Finance has partnered with MANSA to enable same-day payment settlements across key African corridors, utilizing stablecoin-backed infrastructure. This collaboration aims to enhance liquidity and accelerate cross-border transactions for businesses, reducing the need to pre-fund accounts in multiple markets.