National Bank of Ethiopia Joins Pan-African Payment System
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
The National Bank of Ethiopia officially joined the Pan-African Payment and Settlement System (PAPSS) on October 16, 2026. This move is intended to modernize Ethiopia's financial sector and strengthen economic ties with African markets. PAPSS allows participating businesses to conduct transactions directly in local currencies, reducing reliance on the US dollar and eliminating the need for intermediary correspondent banks.
From 2merkato.com
Why it matters
The participation is expected to facilitate cross-border transactions and enhance trade and investment opportunities between Ethiopia and other African countries. By enabling local currency transactions, the system aims to reduce payment costs for businesses operating across the continent.
From 2merkato.com
Who's involved
- National Bank of EthiopiaCentral bank of Ethiopia that joined the PAPSS
- EthiopiaCountry where the National Bank of Ethiopia operates
- Eyob TekalignGovernor of the National Bank of Ethiopia
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- EthiopiaSpeculative
Ethiopia might see increased trade and investment opportunities with African nations.
- National Bank of EthiopiaSpeculative
The National Bank of Ethiopia could reduce operational costs related to cross-border payments.
- MalawiSpeculative
Malawi may benefit from reduced transaction costs for cross-border trade.
- NigeriaSpeculative
Nigeria could see reduced transaction costs for cross-border trade.
- KenyaSpeculative
Kenya might experience lower costs for cross-border trade.
Keep exploring
The entities involved
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National Bank of Ethiopia
central bank of Ethiopia
Nothing else this week.
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Ethiopia
country in the Horn of Africa