Vice-president Dr Mahamudu Bawumia has reminded Governors of central banks on the continent and other stakeholders that coordination and collaboration among institutions engaged in the ongoing quest to integrate African payment systems is key to avoid duplication, reduce costs and engender efficiency in the use of resources.

Dr Bawumia said this in his keynote address at the virtual Association of African Central Banks (AACB) Annual Payment Systems Conference on Thursday morning, 4 November 2021.

He also urged the AACB Payment Systems Task Force and its working groups to collaborate with the Afreximbank PAPSS project to ensure the delivery of a single integrated payment platform that serves “our purpose of promoting intra-African trade.”

“As custodians of the payment systems, the central banks must take the lead in this integration effort,” Dr Bawumia said