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PAPSS

FPS

Pan-African Payment and Settlement System - continental instant payment system for intra-African trade. Operated by Afreximbank. Enables cross-border payments in local African currencies without USD conversion. Supports the African Continental Free Trade Area (AfCFTA). ISO 20022 native.

NowHours: computing from the published schedule…Service condition: not monitored details

ClearingPost does not assess whether PAPSS is running normally.

Next

Dated items ClearingPost holds, each with its source and whether the date is confirmed

No supported upcoming items in ClearingPost's records for PAPSS.

ClearingPost holds sourced upcoming items for 10 of 150 systems; an empty list is a statement about ClearingPost's records, not about a system's plans.

Changed

Material, sourced changes ClearingPost recorded; corrections to its own record are labelled as such

No substantive change recorded for PAPSS in ClearingPost's change records.

The full activity log for this system, including context notes, is on the Changes page.

Sources No status page recorded · 5 of 12 fields carry a source and a recorded date · latest sourced entry recorded 28 Sep 2026 · evidence details ↓

Record · PAPSS

Country
Africa (Pan-continental) (AF)
Currency
Multi-currency (XAF)
Operator
Afreximbank
Type
FPS
Operating Window
24/7/365
Year Established
2022
Daily Volume
$500M
Tier?
Tier 2
ISO 20022?
Native
Region
Middle East & Africa
Settlement Type?
Net
Participants
20+ countries, 160+ banks, 14+ payment switches (Mar 2026)
Notes

PAPSS publishes no absolute transaction counts or values. At a Lagos media briefing on 7 September 2026, CEO Mike Ogbalu III said the network connects 30 African countries and 24 central banks, cited transaction-volume growth of more than 1,000 percent, average settlement of about seven seconds, and a target of about 38 connected countries by the end of 2026 with all 54 within five years. PAPSS distinguishes direct and indirect participants, which can both send and receive, from an extended network of receive-only institutions reached through licensed partners, so reach figures in the June 2026 coverage document exceed participant counts.

Afreximbank official website →
See all FPS systems →See all systems in Africa (Pan-continental) →ISO 20022 migration status →Payment rails by country →
Other systems in the same country or region
SARIERTGS
Saudi Arabia · SAR · SAMA
UAEFTSRTGS
UAE · AED · CBUAE
SAMOSRTGS
South Africa · ZAR · SARB
KEPSSRTGS
Kenya · KES · CBK
RTGS EgyptRTGS
Egypt · EGP · CBE
AaniFPS
United Arab Emirates · AED · Al Etihad Payments (AEP) / CBUAE

Operations · PAPSS

Operational monitoring: not configured. ClearingPost does not monitor operational sources for this system and does not assess its current service condition.

Operations lists the systems ClearingPost monitors and the operational events it has recorded.

Intelligence for PAPSS (9)

Coverage whose headline or summary names PAPSS, or names its operator or country together with its system type. Each item quotes that evidence and says whether the source is the PAPSS operator or external.

AnalysisSep 26, 2026Headline names “PAPSS”
PAPSS Average Payment Size Fell About 80 Percent as Volumes Outpaced Values
The Pan-African Payment and Settlement System is being used for far smaller payments than a year ago, according to growth figures Afreximbank published on 11 September 2026. Volume growth far outpaced value growth, putting the mean payment at about a fifth of its year-earlier size. Afreximbank published the change as percentages rather than absolute counts and values.
External source · Afreximbank
NewsSep 11, 2026Headline names “PAPSS”
PAPSS Targets 38 Countries on Its Network by End of 2026
Twenty-four central banks already participate in the cross-border settlement platform, according to the network's own figures.
External source · CNBC Africa
NewsJul 13, 2026Headline names “PAPSS”
BEAC Joins PAPSS, Connecting Central Africa's Six Economies to Pan-African Payment Network
Central Africa's CEMAC bloc gains access to pan-African instant payments after BEAC joins the Afreximbank-operated PAPSS network, extending coverage to 28 countries across the continent.
External source · Afreximbank (via Zawya)
NewsMar 21, 2026Headline names “PAPSS”
Kenya's PesaLink Joins PAPSS Network, Linking 80 Financial Institutions to Pan-African Payments
The integration of PesaLink with PAPSS marks the first time a national payment switch has served as a direct transaction termination point for the pan-African network. By connecting over 80 Kenyan banks, SACCOs, fintechs, and mobile money operators, the partnership opens East Africa's largest economy to instant cross-border payments in local currencies.
External source · Afreximbank (published 2026-02-26)
AnalysisMar 21, 2026Headline names “PAPSS”
Kenya's Pesalink Becomes First National Payment Switch to Connect Directly to PAPSS for Pan-African Settlement
By connecting over 80 Kenyan financial institutions to more than 160 banks and fintechs across 12 African countries, the Pesalink-PAPSS integration establishes a replicable model for plugging domestic instant payment switches into a continental clearing layer that settles in local currencies without US dollar intermediation.
External source · African Export-Import Bank (Afreximbank)
NewsMar 20, 2026Headline names “PAPSS”
Kenya's Pesalink Connects to PAPSS for Cross-Border Instant Payments in Local Currencies
The integration means payments originating from any of the 19 countries currently connected to PAPSS can now reach Kenyan recipients around the clock. Pesalink serves as Kenya's real-time interbank payment network operated by Integrated Payment Services Limited, connecting the country's commercial banks and providing a bridge to mobile money ecosystems.
External source · Afreximbank
NewsMar 17, 2026Headline names “PAPSS”
Kenya's PesaLink Connects to PAPSS: East Africa's Largest Economy Joins Pan-African Instant Payment Network
PAPSS added Kenya on February 26, 2026, connecting 80+ domestic financial institutions via PesaLink. The network now spans 19 African countries with local-currency settlement through Afreximbank.
External source · African Export-Import Bank
NewsFeb 18, 2026Headline names “PAPSS”
South Africa Formally Joins Afreximbank, Gaining Access to PAPSS Network
The SARB and major South African commercial banks (Standard Bank, FirstRand, Absa, Nedbank) are expected to complete PAPSS integration by mid-2026.
External source · Afreximbank
NewsAug 20, 2025Headline names “PAPSS”
PAPSS Expands to 12 Countries as Morocco and Algeria Join Pan-African Payment System
Morocco's Bank Al-Maghrib and Algeria's Banque d'Algérie completed central bank integrations with PAPSS, enabling commercial banks in both countries to process intra-African payments in local currencies without routing through European or American...
External source · Afreximbank