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AfricaJuly 1 2015

Connecting a continent: the rise of Africa's payment systems

Africa's regional payments systems, such as Siress, are flourishing and are expected to play a growing role in the continent's economic growth, particularly as intra-African trade picks up.
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Connecting a continent: the rise of Africa's payment systems

Regional payments systems are now at the heart of the discussion around Africa’s economic growth story. Across the continent, new systems are being successfully deployed in a sign of the increasing maturity of Africa’s financial services architecture. In turn, these developments are transforming the way that business and trade is conducted throughout the region. 

For the private sector, this represents a significant opportunity to cut costs and achieve greater efficiency, while gaining easier access to the booming consumer demand across Africa’s sub-regions. More significantly, the introduction of effective payments systems is altering the way in which African states are trading with each other, as well as the rest of the world.

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