Trade: Partial Deployment of PAPSS Hinders Cameroonian Companies' Adoption
In a statement dated August 21, 2026, the Minister of Trade, Luc Magloire Mbarga Atangana, urges economic and institutional actors to rapidly adopt the Pan-African Payment and Settlement System. Although the BEAC connection was implemented on July 9, 2026, the majority of concerned entities have not yet deployed the required direct issuance modules to serve a continental market of 1.4 billion people.
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Intermediary fees and exchange costs, charged by correspondent banks outside the continent, represent an estimated annual loss of $5 billion in Africa.
Despite a theoretical presence in 28 countries, 190 banks, and 16 switches, the network keeps Cameroon in a mere receiver position, hindering companies wishing to settle purchases in Ghana, Kenya, or Nigeria in local currency.
Yet, Yaoundé holds an advantage for having issued, on October 6, 2022, the first certificate of origin under the Guided Trade Initiative for a shipment of dried products.
Regulated by prevailing exchange norms in the sub-regional zone, the presentation of commercial justifications remains mandatory to validate financial transactions. Removing tariff and administrative barriers will transform reduced banking costs into real gains for exporters.
Thus, the publication of the list of participating banks and their fee schedules will determine the effective use of the tool by economic actors.
The success of intra-African exchanges will depend on the capacity of local institutions to quickly open their counters to local currency transfers.
Bernardo
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