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Bank of Algeria joins PAPSS, the Afreximbank-led Pan-African Payment and Settlement System, ahead of hosting Intra-African Trade Fair 2025 in Algiers.

Bank of Algeria Joins Pan-African Payment and Settlement System

August 18 2025

The Pan-African Payment and Settlement System (PAPSS) launched by African Export-Import Bank (Afreximbank) (www.Afreximbank.com) in collaboration with the African Union Commission (AUC) and the African Continental Free Trade Area (AfCFTA) Secretariat, has officially welcomed the Bank of Algeria into its growing network. Algeria now becomes the 18th country of presence for PAPSS, marking a significant step in advancing Africa’s journey towards deeper financial integration. This development is expected to further support cross-border payments and enhance the regulatory framework governing intra-African trade.

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