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The Bank of Algeria joins the Pan -African Payment System Network
Papss membership
The Bank of Algeria joins the Pan-African System of Payment and Rules (PADS), accelerating financial integration in Africa at a time when Algeria is preparing to host the intra-African trade fair 2025 (IATF2025)
This development should make it possible to further support cross-border payments and strengthen the regulatory framework governing intra-African trade. The pan-African payment and regulation system (PADS) launched by the African Import-Export Bank (Afreximbank) (www.afreximbank.com) in collaboration with the African Union Commission (CUA) and the secretariat of the free trade area Continental African (ZLECAF), officially welcomed the Bank of Algeria in its growing network. Algeria today becomes the 18th country to join the Papss, marking an important stage in the march of Africa towards more in -depth financial integration. This development should make it possible to support cross-border payments more and strengthen the regulatory framework governing intra-African trade.
The membership of Algeria in Papss comes at a time when the nation is preparing to welcome the intra-African trade fair 2025 (IATF2025) from September 4 to 10, 2025 in Algiers. This leading event, another flagship initiative of Afreximbank, should bring together more than 35,000 participants of more than 140 countries, thus creating an unrivaled platform for business, investment and the realization of the vision of the Zlecaf. Mike Ogbalu III, Director General of the Papss, praised this historic event, in these terms: “We are delighted to welcome the Bank of Algeria to the Papss family. The entry of Algeria reinforces not only our presence in North Africa, but also demonstrates the growing confidence of the continent in our system as the engine of the transformation of payments into Africa. To date, the PADS has reduced the costs of intra-African cross-border transactions between participating countries and permit to end users to save up 27 %, while helping banks to experience more than 1,000 % of the volume of transactions thanks to the integration of digital channels. As our network develops, we make African payments faster, more affordable and more accessible, catalyzing economic growth and opening up new opportunities for businesses and communities across Africa. ”
Mohamed Benbahane, vice-government of the Bank of Algeria, pointed out: “As part of the support of Algeria’s commitment to the acceleration of African economic integration, the Bank of Algeria joined the Pan-African payment and regulation system (PADS). This membership, which aims in particular to improve the efficiency of payments and to facilitate intra-African trade, represents an essential lever in strengthening the role of Algeria within the African financial ecosystem and supporting sustainable economic development in Africa ”.
APO Group for Afreximbank.