Afrieximbank launches PAPSS Card. Why now and what about AfriGo?
- Afreximbank launched the PAPSS Card on June 27 at the 32nd Afreximbank Annual Meetings in Abuja, Nigeria.
- The PAPSS Card is a joint venture between Afreximbank and Mercury Payment Services, aimed at enhancing financial sovereignty in Africa.
- The card seeks to retain value and data within Africa by processing transactions locally, reducing costs associated with global systems.
The launch of the PAPSS Card represents a pivotal moment for Africa's financial landscape, as it not only promotes intra-African trade but also empowers local economies by reducing dependency on external payment systems. This initiative could significantly enhance financial inclusion and innovation across the continent, but its success will depend on widespread adoption and effective collaboration among stakeholders.
