CMA | Business Insights Africa Magazine

Saturday, August 29, 2026

Home Tags CMA

Gadgets

Wyckliffe Shamia takes over at Capital Markets Authority

- November 20, 2020

CMA board chairman James Ndegwa through a letter to staff said that Shamiah’s confirmation comes after approval from the National Treasury Cabinet Secretary Ukur...

MOST POPULAR

SEVEN TIME CHAMPION PHILEMON BAARU DETHRONED HIS TITLE BY DUNCAN MAIYO...

July 2, 2019

OVER 15,000 PEOPLE TURN UP FOR TWAWEZA LIVE CONCERT IN ELDORET

May 28, 2018

Kenya Airways and Delta Air Lines Expand Connectivity Between U.S....

August 17, 2018

Africa’s first ‘true’ cryptocurrency to be launched next year

October 25, 2018

HOT NEWS

Instant 24/7 bank-to-bank transfers across African borders in local currencies. Simpler cross-border payments for individuals, businesses, and SMEs. 80 plus Pesalink network participants now linked to 160 plus PAPSS participating banks. Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration. The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This reduces complex correspondent banking requirements and reliance on foreign reserve currencies. PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables cross-border payments between African countries. Pesalink is now a Technical Connectivity Provider. It means that 80 plus Kenyan bank, fintech, SACCO and telco participants on the Pesalink network will be connected to 160 plus commercial banks and fintechs on the PAPSS platform. Cross-border payments remain expensive and slow for many African businesses. The 2023 (http://apo-opa.co/4baDSh7) World Bank Remittance Prices report indicates that sending money across African borders incurs on average 7-8% of the total value sent (above the global average of 6–7%). Settlement can also take three to seven business days. The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders. Speaking during the partnership signing held at Pesalink offices in Nairobi, PAPSS CEO Mike Ogbalu III said, “For PAPSS to deliver true impact, collaboration with national and private switches like Pesalink is essential. Pesalink is the first switch we’ve piloted for transaction termination in Kenya, and we are already seeing greater adoption by opening more channels for seamless, local-currency cross-border payments across Africa.” Pesalink CEO, Gituku Kirika, said “Kenyan banks will now be able to offer faster, cheaper cross-border payments. They will be helping their customers grow more regional trading relationships and thrive in a more integrated digital economy.”

News

Pesalink and Pan-African Payment and Settlement System (PAPSS) Unlock Cross-Border Payments...

Lifestyle

Unleashing power of data analytics

News

EAST AFRICA GOT TALENT JUDGES ANNOUNCED

Lifestyle

The Role of Oil and Gas Companies in the Energy Transition

EDITOR PICKS

Radisson Hotels launch Long Stays

August 11, 2026

S&P Global Ratings Confirms ShafDB’s Sustainability Finance Framework Meets International Green...

August 7, 2026

Airtel Money deepens support for small businesses with Bizna Wallet

August 4, 2026

Third Africa Islamic Finance Forum Confirmed for Nigeria March 2018

March 23, 2018

EABL signs lease deal for office space in upcoming Garden City...

March 14, 2018

Facebook Introduces Messenger Rooms and More ways to connect

April 27, 2020

Tag: CMA