Introduction
When South Africa takes up the G20 presidency in 2025, the country will be presented with a significant opportunity to support the G20 Cross-Border Payments Programme, first introduced in 2020 by the Financial Stability Board (FSB) together with the Bank for International Settlements’ (BIS) Committee on Payments and Market Infrastructures (CPMS). The Cross-border Payments Roadmap was presented to the G20 to enhance the speed, transparency and cost-efficiency of cross-border payments. In this context, South Africa can provide momentum to African-driven cross-border payment initiatives, particularly with the AU now a full G20 member. Leveraging this theme allows for major advancements in key initiatives such as the Pan-African Payment and Settlement System (PAPSS) and the African Continental Free Trade Area (AfCFTA) Protocol on Digital Trade.
