Ethiopia plugs into Africa's own payments network, so trade can settle at home

Ethiopia's central bank governor Eyob Tekalign had a simple message as his country joined the Pan-African Payment and Settlement System: paying neighbours should not require a detour through distant banks. The system, known as PAPSS, lets businesses settle cross-border deals directly in local currencies. It began in 2022 with 10 commercial banks and now runs in more than 15 countries with over 150 banks connected — one more rail laid for trade within Africa itself.

SDG 8 · Decent work and economic growth — Mechanism: institutional program