Ethiopia Joins Africa’s PAPSS Network to Facilitate Cross-Border Payments

Ethiopia has joined the Pan-African Payment and Settlement System (PAPSS), connecting the country’s financial institutions to a continental payment network designed to facilitate cross-border transactions and support trade between African countries.

The National Bank of Ethiopia (NBE) and PAPSS announced the move during the Ethiopia Finance Forum in Addis Ababa, where central bank Governor Eyob Tekalign and PAPSS chief executive Mike Ogbalu III also announced that Ethiopia will host the network’s annual payments conference in November.

Membership will allow Ethiopian financial institutions to connect to PAPSS and participate in cross-border payments with financial institutions across Africa, according to the announcement. The statement did not specify when individual Ethiopian banks and other financial institutions would begin processing transactions through the system.

Established under the auspices of Afreximbank, the African Union and the African Continental Free Trade Area Secretariat, PAPSS is intended to facilitate payments across African markets and support intra-African trade.

Ethiopia is also scheduled to host PAPSS COWRY 2026, the network’s payments conference, on November 26–27 at the Ethiopian Skylight Hotel in Addis Ababa. The event, co-hosted by the NBE and PAPSS, will bring together central bank governors, commercial bank executives, fintech companies, regulators and international payment providers.

The conference will focus on cross-border payments, local currency settlement, interoperability, financial infrastructure, artificial intelligence, stablecoins, digital assets and cybersecurity. Organisers expect more than 1,000 delegates, over 60 speakers and more than 35 exhibition booths.

“Ethiopia’s integration into the PAPSS network represents an important step in our continued efforts to modernise our financial system and deepen our economic connections with the rest of Africa,” Eyob said.

Ogbalu said Ethiopia’s participation would connect its financial institutions to the expanding continental payments infrastructure and create opportunities for cross-border transactions.

The announcement comes as Ethiopia pursues changes to its financial sector, including reforms intended to increase competition and expand the participation of financial institutions. However, the practical impact of PAPSS membership will depend on the participation of Ethiopian banks and the availability of services for businesses and customers.

The conference will also include the PAPSS COWRY Awards, scheduled for the evening of November 26, recognising contributions to Africa’s payments industry.

Source: FSX Business News