The Pan-African Payment and Settlement System (PAPSS) announced that Algeria, through the Bank of Algeria, has officially joined its network. This marks a significant step in Algeria’s commitment to advancing financial integration and economic collaboration across Africa.
With Algeria’s inclusion, PAPSS now connects 18 countries spanning four African regions. The expanded network aims to simplify cross-border payments and trade settlements, reducing transaction costs and processing times. This enhancement is expected to strengthen economic ties and boost trade between Algeria and other African nations.