Algeria Joins the Pan-African Payment and Settlement System (PAPSS) Network
The partnership is expected to reduce transaction costs and processing times, which will help to foster stronger economic ties and increased trade between Algeria and other African nations.
The Pan-African Payment and Settlement System (PAPSS) has announced that Algeria has officially joined its network. The Bank of Algeria’s inclusion is seen as a reinforcement of the country’s commitment to strengthening financial integration and economic collaboration across Africa.
With the addition of Algeria, the PAPSS network now extends to 18 countries across four African regions. This development is a significant milestone in PAPSS’s mission to simplify cross-border payments and trade settlements on the continent. The partnership is expected to reduce transaction costs and processing times, which will help to foster stronger economic ties and increased trade between Algeria and other African nations.
