The Bank of Central African States (BEAC) has integrated its six member countries into the Pan-African Payment and Settlement System (PAPSS), expanding the instant-payment network to cover 28 nations across the continent.
The move enables trade settlement in local currencies, reducing reliance on the US dollar for cross-border transactions within the CEMAC bloc.
This development marks a significant step in the operationalization of local-currency trade infrastructure in Central Africa.
By joining PAPSS, the BEAC zone aligns with a broader continental push to streamline payments and reduce transaction costs associated with third-currency intermediation.
The network now facilitates real-time settlement for a larger share of intra-African commerce.
The integration occurs against a backdrop of shifting global reserve management strategies.