Pan-Africanist Ruto should push continental trade, payment system
President William Ruto make his remarks during the African private sector dialogue conference on the African Continental free trade area at Safari Park Hotel, Nairobi, Kenya on May 29, 2023. PHOTO | LUCY WANJIRU |NM
It feels good to hear our fellow East African, Kenya’s president William Ruto, urging all central (and commercial) banks on the continent to sign up onto the Pan-African Payments and Settlements System, PAPSS, to “liberate themselves from reliance on the dollar”.
If he took the call further than the formal address made at a recent conference in Nairobi and phoned each of his 53 counterparts on embracing PAPSS (launched nearly two years ago by Afreximbank), then Africa could be onto something big.
