AfPAY roadshows explore additional settlement routes for African trade
Afreximbank has used a series of African roadshows to explain its AfPAY payment services and access to renminbi settlement through China’s Cross-border Interbank Payment System, known as CIPS. Public updates cover engagements in Zimbabwe, Côte d’Ivoire and Ethiopia.
The sessions brought together banks, regulators and businesses to discuss payment efficiency, correspondent banking constraints and the infrastructure needed for international trade. In Ethiopia, Afreximbank highlighted its direct participation in CIPS and related clearing, settlement and account services.
The Abidjan discussions also covered compliance, risk management and treasury services. The emphasis was on the requirements for financial institutions to provide payment routes that businesses can use.
For buyers, a settlement option can be relevant when negotiating with overseas suppliers. Its value depends on availability through the buyer’s bank, the currencies involved and the complete cost of the transaction.
The buyer perspective is to compare payment arrangements before agreeing an order. Ask which banks can participate, how exchange rates and charges are determined, what documents are required and how exceptions will be handled. Suppliers should confirm that the proposed route works for their receiving institution.
African Buyers Programme members can use the roadshow announcements as a starting point for those conversations. A payment service is useful only when both sides understand the operating process and can reconcile the transaction. Aligning settlement arrangements with contract terms, delivery milestones and internal approvals can help businesses assess whether a new route fits their trading needs and reduces avoidable friction in the movement of money across borders.
