Ethiopia Joins African Payments System
Ethiopia has integrated into the Pan-African Payment and Settlement System to modernise its financial network. The platform allows direct local currency transactions to reduce cross-border costs.
Ethiopia's central bank has joined the Pan-African Payment and Settlement System, bringing the country closer to full financial integration across the continent. The platform allows direct transactions in local currencies to cut cross-border payment costs. The move helps businesses bypass the dollar and eliminates the need for correspondent banks abroad.
