• Home
  • Radio
  • TV
  • Advertisement
  • Disclaimer
  • Public Notice
    • Opinion
  • New Africa Business News
  • Contact
  • Log In
facebook
    • News
    • Business
    • Video
    • Entertainment
    • Sport
    • Jobs
    • Government
    • Immigrants
    • Investment
    • Gallery
      • Animal
      • Africa Map
    • NGO
    BREAKING NEWS
    To Our Dedicated Readers…
    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan
    African Leaders Lift-off African School of Governance…
    Zimbabwe in Alacrity to Participate in the Forthcoming Minerals Africa Summit in Cape Town South Africa
    Rwanda’s MPs in the Lower House started Nationwide Assessment on progress of the Agricultural Outreach season
    $2.8 Million has been Vitally signed by Grid Africa as an Equity Investment from Rifuwo Energy Partners
    The Elected African Table Tennis Federation Executive Council Agreed on a Memorandum of Understanding with Ethiopian Airlines

    Payment policy to support Commerce amongst member African Nations in the African Continental Free Trade Area are underway by the Pan African Payment and Settlement System

    Posted On 21 Aug 2021
    By : New Africa Business News, Staff Correspondent
    Comments: 10

    By Abdul Rahman Bangura–

    Photo Credit: Afreximbank

    NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- The Executive Vice President for Afreximbank – Denys Denya, divulged that, the pilot will be finalized by the end of 2021. Denya announced, the Pan African Payment and Settlement System formulated by the Afreximbank and the African Union is anticipated to eradicate questions of multiple currencies trading under the continental free trade
    area.

    Subsequently expressing the Ghana Roadshow for the forthcoming intra African Trade in Durban – South Africa, Executive Vice President of the Bank, meant that six nations are now conducting the platform and hopeful, they will infer that by the end of 2021.

    “The system is already in place and currently going through piloting in the West African Monetary Zone which consists of six countries including Ghana”.

    “I’m expecting that before the close of the year, it should be done, and then based on the positive result, the council will take it up from there” he asserted.

    The payment system is intended to at guaranteeing that setbacks, in currency deals amongst merchandisers do not hinder the prosperity of the Africa Continental Free Trade Area.

    The Secretariat for the Africa Continental Free Trade Agreement is supporting the strategy to assure that, all nations are latched on to it for the steady trading objectives on the landmass.

     

    For New Africa Business News (NABN) Abdul Rahman Bangura Reports,  Africa Correspondent

    About the Author
    New Africa Business News Staff Correspondent
    • google-share
    Previous Story

    $20 Million Investment pact fulfilled by the African Development Bank (AfDB) from the Sustainable Energy Fund for Africa (SEFA) for the Novel Coronavirus Pandemic OffGrid Recovery Platform

    Next Story

    New Initiative Set to Strengthen Fertilizer Regulation in Southern Africa

    10 Comments

    1. Andre August 21, 2021 at 3:00 am Reply

      Payment policy within our free trade area is extremely important. Bisho SOUTH AFRICA. Andre

      • New Africa Business News, Staff Correspondent August 21, 2021 at 3:12 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    2. Aiko August 21, 2021 at 3:03 am Reply

      Thank you for the timely reports. Love it. Kyoto in Japan. Aiko

      • New Africa Business News, Staff Correspondent August 21, 2021 at 3:12 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    3. Randy August 21, 2021 at 3:05 am Reply

      love the weekend newsletters. Thank you. Berlin Germany. Randy

      • New Africa Business News, Staff Correspondent August 21, 2021 at 3:12 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    4. Dimo August 21, 2021 at 3:08 am Reply

      All forms of payments should be simply and easy to use. Maseru in Lesotho. Dimo

      • New Africa Business News, Staff Correspondent August 21, 2021 at 3:11 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    5. George August 21, 2021 at 3:10 am Reply

      Fan of your online newspaper. Thank you very much. Bristol England. George

      • New Africa Business News, Staff Correspondent August 21, 2021 at 3:11 am Reply

        Thanks for reading, Africa’s fastest growing online newspaper. Please forward http://www.newafricabusinessnews.com

    Leave a Reply Cancel reply

    *
    *

    Members Area

    • Members Log In

    RECENT

    POPULAR

    COMMENTS

    To Our Dedicated Readers...

    Posted On 04 Nov 2024

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    Posted On 04 Nov 2024

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Posted On 04 Nov 2024

    New Africa Business News, Africa Leader of the Year 2022-2023 Goes to Ethiopia's Prime Minister Dr. Abiy Ahmed

    Posted On 24 Feb 2023

    Africa Leader of the Year 2023-2024, Rwanda's President Paul Kagame

    Posted On 21 May 2024

    New Africa Business News 2022-2023 Person of The Year Goes to Professor Patrick Loch Otieno Lumumba (PLO Lumumba)

    Posted On 05 Jan 2023

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Peace making leader. Congrat Paul...

    Posted On 15 Feb 2024

    Thanks for reading, Africa’s fastest...

    Posted On 15 Feb 2024

    Facebook

    Latest Posts

    To Our Dedicated Readers...

    Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education

    The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023

    Recent Posts

    • To Our Dedicated Readers…
    • Experts Divulged African Nations should brace up for Digital Technology in the Education Sector to Expedite Africa’s Financial Growth and Quality Education
    • The East Africa Device Assembly Kenya (EADAK) Sold 360,000 devices being Inaugurated on its Blast-off in October 2023
    • ….as it strives to Exploit its Supplies of Fossil Fuels £19 Billion Gas Pipeline would pass…13 Countries
    • In a Bid to Accelerate Green Energy Economy, Kenya Reveals a 10-year Implementation Plan

    Categories

    • Business
    • Education
    • Entertainment
    • Featured
    • Government
    • Immigrants
    • Investment
    • News
    • Obituary
    • Sport

    Contact Form

    1. Name *
      * Please enter your name
    2. Email *
      * Please enter a valid email address
    3. Message *
      * Please enter message
    Copyright 2019 New Africa Business News, Inc. A Global International Company, Inc. All Rights Reserved.