Why does African trade still need Dollars?

Why is Africa still paying a premium to trade with itself? Discover the paradox of regional trade where many Nigerian businesses convert Naira to Dollars for intra-African transactions, despite initiatives like the African Continental Free Trade Area (AfCFTA).

This reliance on external currencies and costly payment systems costs Africa an estimated $5 billion annually in lost foreign exchange and transaction fees. Learn how the Pan-African Payment and Settlement System (PAPSS) offers a solution by enabling local currency cross-border payments, though its adoption is still evolving.

If Africa is serious about building an integrated market and unlocking its full trade potential, digital payment integration is not just beneficial—it's absolutely essential.

#AfCFTA #AfricanTrade #DigitalPayments #PAPSS