SMEs to benefit from AfCFTA as MFS Africa joins PAPSS

February 21th, 2022 – Millions of semi-formal small and micro-African businesses are to benefit from opportunities in the African Continental Free Trade Agreement (AfCFTA) as MFS Africa, a digital payments network, has announced that it has joined the Pan-African Payment and Settlement System (PAPSS) network.

PAPSS is the newly established African cross-border and financial market infrastructure facilitating the payment, clearance and settlement for intra-African trade payments.

The synergy would enable MFS Africa to extend the reach of the PAPSS network to over 320 million mobile money and last mile users across 35 African markets, enabling borderless and seamless possibilities for transactions and trade.

More…https://guardian.ng/business-services/smes-to-benefit-from-afcfta-as-mfs-africa-joins-papss/

Written by The Guardian
Photo: Forbes