By| Goodluck E.Adubazi, Abuja
Harare, Zimbabwe — Efforts to modernise Africa’s trade finance landscape received a major boost as Afreximbank brought together commercial banks, financial institutions, importers, and exporters in Harare for the AfPAY and Cross-Border Interbank Payments and Settlements (CIPS) Commercialisation Roadshow.
The event highlighted innovative payment solutions aimed at simplifying cross-border transactions and strengthening trade settlement systems across the continent.
During the roadshow, participants were introduced to Afreximbank Trade Payment Services (AfPAY) and the CIPS programme, both designed to address longstanding challenges in international and regional payments.
The solutions offer financial institutions opportunities to reduce payment complexities, lower transaction costs, enhance transparency, and improve access to dependable settlement channels for trade activities.
Afreximbank officials noted that correspondent banking constraints continue to hinder trade flows in many African markets, creating delays and increasing the cost of doing business.
Through AfPAY and CIPS, banks can access practical alternatives that support faster, safer, and more efficient transactions while strengthening links with major global trading partners.
The Harare engagement forms part of Afreximbank’s wider strategy to transform Africa’s trade finance ecosystem by promoting regional financial integration and equipping financial institutions with modern tools to facilitate seamless cross-border commerce.
Industry stakeholders attending the roadshow welcomed the initiative, describing it as a significant step toward improving payment infrastructure and unlocking greater opportunities for businesses engaged in regional and international trade.
By advancing innovative payment systems and strengthening financial connectivity, Afreximbank continues to support the creation of a more integrated, competitive, and trade-enabled African economy.
