African Union officials confirmed that work is underway to establish the African Monetary Institute, after which the continent will be in a position to establish the African central bank and later a single African currency.
PAPSS rollout is planned to reach five regions of Africa before the end of 2023, while all central banks and commercial banks are projected to be signed up by end of 2024 and 2025 respectively.
AfCFTA rules of origin, just like standards requirements, single out goods produced within the free trade area that meet set conditions to be allowed to move freely and enjoy preferential tariff treatment.
