As many as 20 countries may be part of a pan-African payment system by the end of the year. African Export-Import Bank (Afreximbank) President Benedict Oramah said the bank expects the Pan-African Payment and Settlement System (PAPSS) to have between 15 and 20 countries participating by that time, the Financial...
Trade finance firm Afreximbank has allocated $1.5 billion to help Caribbean countries access its services. The Cairo-based company announced the arrangement Monday (Dec. 26), saying it followed the addition of nine Caribbean countries to its Afreximbank Partnership Agreement at the first Africa-Caribbean Trade and Investment...
Today in B2B payments, the African Export-Import Bank (Afreximbank) launches a payment service, Nipendo expands access to automated invoicing and WEX adds a digital wallet for B2B payments. Plus, PYMNTS research finds an opportunity for financial institutions to supply capital, cash flow assistance and payment...
The African Export-Import Bank, or Afreximbank, announced Thursday (Sept. 29) the broad launch of a payment service called AfPAY with the stated goal of facilitating easier transactions among African financial institutions. The announcement said: “Afreximbank developed the product specifically to address the banking challenges confronting...
July 06, 2023
Afreximbank and Fiducia have partnered to address the “supply chain finance gap” in Africa. The bank and the supply chain financing firm have formed a strategic partnership in which Afreximbank will provide additional liquidity for factoring on the Fiducia marketplace, the companies said in a Thursday (July 6) press release. “This will further lower funding costs on the platform and […]
June 18, 2023
As many as 20 countries may be part of a pan-African payment system by the end of the year. African Export-Import Bank (Afreximbank) President Benedict Oramah said the bank expects the Pan-African Payment and...
December 26, 2022
Trade finance firm Afreximbank has allocated $1.5 billion to help Caribbean countries access its services. The Cairo-based company announced the arrangement Monday (Dec. 26), saying it followed the addition of...
January 14, 2022
A new system went live with 12 banks in Africa to enable payment transactions and alleviate trade issues across the continent, which deals in more than 40 currencies, according to...
