INTERNATIONAL: ASEA and PAPSS Sign MoU to Enhance Cross-Border Trading

Thursday April 20 2023

On 19^th April 2023, the African Securities Exchanges Association (ASEA) and the Pan-African Payments and Settlement System (PAPSS) have signed a Memorandum of Understanding (MoU) to collaborate on ways to enhance the payments process for cross-border securities transactions in Africa.

The partnership between ASEA and PAPSS aims to improve the cross-border payments system in Africa and promote the development of the continent’s financial markets. This MoU is particularly timely given the recent launch of ASEA’s African Exchanges Linkage Project (AELP) in December 2022, which aims to facilitate cross-border trading. With support from the African Development Bank (AfDB), ASEA has made significant progress in integrating member exchanges across the continent through the AELP, covering seven exchanges and 14 countries in its first phase, with plans to expand to 15 exchanges across 22 countries.

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