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AfCFTA Engages Fintech Community in Lagos on Pan African Payment and Settlement System

The Secretary General of the African Continental Free Trade Area (AfCFTA) secretariat, Wamkele Mene will meet with the Nigerian fintech community in Lagos on Friday 25 September, 2020 at Eko Hotel, Victoria Island.

Wamkele Mene who was sworn in as first ever Secretary General (SG) of AfCFTA in March 2020, has met all  critical stakeholders in Abuja since Monday.

The meeting with the Fintech community would afford the Secretary General opportunity to explain the roles of the fintech firms in the implementation of the Pan African Payment and Settlement System (PAPSS).

PAPSS is the first centralized payment market infrastructure for processing, clearing and settling of intra-African trade and commerce payments.

PAPSS is an arm of the African Export- Import Bank (Afreximbank), which is a pan-African multilateral financial institution, established in 1993 for the purpose of financing and promoting intra and extra African trade.

Afreximbank operates and manages PAPSS.

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PAPSS will soon commence operations and it seeks experienced partners, who are innovative, entrepreneurial and imbued with the passion and commitment to transform Africa through trade.

Mr Victor Liman, Chief Trade Negotiator and the Director-General Nigerian Office for Trade Negotiations is the facilitator of the engagement with the Fintech community.