" class="no-js "lang="en-US"> Africa payments innovations hit Sibos 2023
Sunday, September 24, 2023

Africa payments innovations hit Sibos 2023

Over the past year alone, the African continent has made significant progress in its journey towards digital, modernised payments leading to the achievement of major industry milestones, notably the welcoming of South Africa to the global low-cost real-time payments community in early 2023.

“From the launch of PayShap and the rapid payments platform as part of South Africa’s modernisation journey to the ground-breaking progress by the Southern African Development Community’s Transactions Cleared on an Immediate Basis (TCIB) Payment Scheme over the past year, the continent continues to boast innovations and developments for advancing financial inclusion,” says Roshan Moonsamy, Interim CEO at BankservAfrica.

BankservAfrica, in partnership with Rand Merchant Bank, will host the African Pavilion at Sibos, between 18-21 September in Toronto, Canada. Launched at Sibos 2019, this platform puts the spotlight on the continent’s journey towards an inclusive payment landscape where visitors can hear more about the innovations for promoting interoperability, the connections to foster collaboration and technologies to advance integration.

“Intra-Africa trade and payments represents a huge opportunity between the different trading blocs on the continent, and we believe connected and secure payments systems will be the driving force for boosting trade to higher levels and promoting economic activity from the entire population by enabling the safe and secure exchange of value for goods and services. Sustaining this for the future will only be possible through combined, focused efforts that we are proud to partner with other institutions in innovative ways,” says Suresh Chaytoo, Head: International Banking Networks at RMB.

In addition to the African Pavilion, Sibos delegates are invited to join an African-focused discussion with BankservAfrica, RMB and other experts from the continent on day 2 of Sibos, Tuesday, 19 September 2023 at 14:30 (South Building, Level 700, Room 709).

“This annual, highly anticipated session is an opportunity for Sibos delegates to hear how Africa is responding to the real-time and cross-border payment needs, taking these forward to the integration and convergence of different payment rails to solve for the use cases of the future, and the unique needs that expands to a continued commitment to solving for financial inclusion,” ends Moonsamy.

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