Kenya to host Pan African Payment System

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Kenya will be hosting the Pan African Payment System next year.

This is aimed at fast-tracking trade among African countries.

The African Union Summit in Ethiopia next year will finalise this important agreement.

Kenyan President William Ruto says this is in line with the African Continental Free Trade Area (AfCFTA) agreement.

“How do we marry the efficiency of our trade which happens in different currencies and in the Africa Heads of State Assembly in February next year, we will be adopting the Pan African Payment System that has been crafted by African banks as the instrument that is going to allow this continent trade in our local currencies,” adds Ruto.

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