The European Business Council for Africa

African Banker magazine in partnership with StoneX will host, on September 14, a webinar convening the leading organisations paving the way to build a continent wide pan-African payment system.

Africa’s trading relationships are evolving. Over the past decade, trade has begun to move away from developed countries and towards other emerging economies including India, Indonesia, Russia and Turkey. However, boosting intra-African trade will provide the greatest potential for building sustainable development and is a key goal of policymakers across the continent.

Research from SWIFT back in 2018 showed intra-Africa clearing and trade was increasing in importance with almost 20% of all cross-border commercial payments sent by African banks remaining within the continent, up from 16.7% in 2013. Moreover, intra-African clearing of payments increased from 10.2% in 2013 to 12.3% in 2017.

Today, key hurdles still persist.
The Modernising African Payment Systems event will deep-dive into the critical infrastructure and technology-led solutions needed to develop and implement robust payment systems that can spur intra-African trade and contribute to the economic development of the continent.

Key topics to be addressed are:

How to eliminate risks from payments, clearing and settlement systems.
How to speed up the exchange and settlement of cross-border payments.
Which technology-led innovations and solutions can support the modernisation of African payment systems?
The pan-African Payment and Settlement System and the future of intra-African trade.

You can register here.