O Minister of Foreign Affairs, Teté Antonio, argued that the implementation of the PAPSS payment and settlement system, whose pilot experience is being carried out in West African countries, aims to facilitate cross-border transactions.
According to the official, who was speaking at a meeting with the secretary general of the African Continental Free Trade Area, Wamkele Mene, he considered Angola's role in the implementation of PAPSS and he also referred that our country was one of the first countries to join the African Continental Free Trade Area.
BUT: PAPSS payments system will strengthen commercial links on the continent
Teté Antonio also reinforced the fact that with the PAPSS we have the advantage that payments are made in the national currency of each country, thus avoiding the need to resort to third parties for the acquisition of currency.
On the other hand, Wamkele Mene, considered that the main problem facing the continent is related to cross-border transactions, because they entail high costs for different countries, where the PAPSS will facilitate cross-border transactions between officials and economic operators, allowing the continent to save large sums of money that can be used to improve the living conditions of citizens.
