Russia Today on Nostr: Kenyan President Backs Pan-African Payment System Kenyan President William Ruto has ...
Kenyan President Backs Pan-African Payment System
Kenyan President William Ruto has called upon his African counterparts to avoid using the US dollar in local payments. He made the remarks on Monday in Nairobi while addressing the African Private Sector Dialogue on the African Continental Free Trade Area.
“We are all struggling to make payments for goods and services from one country to another because of differences in currencies. And in the middle of all these, we are all subjected to a dollar environment,” Ruto said.
The president urged his counterparts on the continent to mobilize central and commercial banks to join the Pan-African Payment and Settlement System (PAPSS). Launched in January 2022, the PAPSS is a centralized payment and settlement network for intra-African trade in goods and services.
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Kenyan President William Ruto has called upon his African counterparts to avoid using the US dollar in local payments. He made the remarks on Monday in Nairobi while addressing the African Private Sector Dialogue on the African Continental Free Trade Area.
“We are all struggling to make payments for goods and services from one country to another because of differences in currencies. And in the middle of all these, we are all subjected to a dollar environment,” Ruto said.
The president urged his counterparts on the continent to mobilize central and commercial banks to join the Pan-African Payment and Settlement System (PAPSS). Launched in January 2022, the PAPSS is a centralized payment and settlement network for intra-African trade in goods and services.
Follow on https://obo.sh/@russiatoday **rt**
#russia #news #freedom