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Kenya is set to host the Pan African Payment System next year, with the aim of speeding up trade among African countries.
This important agreement will be finalized at the African Union Summit in Ethiopia next year.
Kenyan President William Ruto states that this aligns with the African Continental Free Trade Area (AfCFTA) agreement.
“How do we marry the efficiency of our trade which happens in different currencies and in the Africa Heads of State Assembly in February next year, we will be adopting the Pan African Payment System that has been crafted by African banks as the instrument that is going to allow this continent trade in our local currencies,” adds Ruto.
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