The Bank of Central African States has officially joined the Pan-African Payment and Settlement System, bringing the Central African Economic and Monetary Community into the network and expanding PAPSS to 28 African countries. The move is aimed at strengthening cross-border payment infrastructure between the six CEMAC member states and the rest of the continent, using a system that enables instant cross-border payments in local African currencies without relying on third-party currencies or external intermediaries. BEAC’s participation gives PAPSS direct connectivity to the CEMAC region, which covers Cameroon, the Central African Republic, the Republic of Congo, Gabon, Equatorial Guinea and Chad. With BEAC’s entry, the PAPSS network now connects more than 190 commercial banks and fintechs through 16 payment switches, while its extended partner network allows transfers to more than 250 additional financial institutions. The release also noted a pilot phase planned with the Central Bank of West African States later this year as PAPSS continues building a single continent-wide payments network. PAPSS and BEAC will work through the end of 2026 to operationalize the membership, integrate financial institutions across the CEMAC region into the system, and support the rollout of PAPSS services to businesses and individuals.
Banking Commission of the Central African Republic2026-07-13
Bank of Central African States joins PAPSS, linking CEMAC payments with the rest of Africa
The Bank of Central African States has joined the Pan-African Payment and Settlement System, extending PAPSS to the CEMAC region and supporting cross-border payments in local African currencies. The network now covers 28 countries and more than 190 banks and fintechs. PAPSS and BEAC plan to operationalize the membership and integrate CEMAC financial institutions through the end of 2026.