The National Bank of Ethiopia (NBE) and the Pan-African Payment and Settlement System (PAPSS) today announced that Ethiopia has officially joined the PAPSS network, marking an important milestone in the country’s integration into Africa’s financial and payments ecosystem.
PAPSS was established under the auspices of Afreximbank, the African Union and the African Continental Free Trade Area (AfCFTA) Secretariat as a critical infrastructure supporting the continent’s economic integration and intra-African trade ambitions.
Ethiopia’s participation in PAPSS will enable financial institutions in the country to connect to the PAPSS network and participate in cross-border payments with financial institutions across Africa, creating new opportunities for Ethiopian businesses and consumers to transact with the rest of the continent.
The announcement was made by H.E. Dr. Eyob Tekalign, Governor of the National Bank of Ethiopia, and Mike Ogbalu III, Chief Executive Officer of PAPSS, during a joint press conference held on the sidelines of the Ethiopia Finance Forum (EFF) in Addis Ababa.
During the press conference, NBE and PAPSS also officially announced that Ethiopia will host PAPSS COWRY 2026, Africa’s Payments Conference, on 26–27 November 2026 at the Ethiopian Skylight Hotel in Addis Ababa, co-hosted by PAPSS and the National Bank of Ethiopia.
Held under the theme “Scaling Africa’s Sovereign Payments: From Continental Connectivity to Global Integration”, COWRY 2026 will bring together the leaders shaping the future of payments in Africa and connect the continent’s payments ecosystem with leading players from around the world.
H.E. Dr. Eyob Tekalign, Governor of the National Bank of Ethiopia, said: “Ethiopia’s integration into the PAPSS network represents an important step in our continued efforts to modernise our financial system and deepen our economic connections with the rest of Africa. It creates new opportunities for Ethiopian financial institutions and businesses to participate more actively in cross-border payments and intra-African trade. We are equally pleased to co-host PAPSS COWRY 2026 and welcome Africa and the global payments community to Addis Ababa at an important time in the transformation of Ethiopia’s financial sector.”
Mike Ogbalu III, Chief Executive Officer of PAPSS, said: “Participating in the Ethiopia Finance Forum has allowed me to witness first-hand a dynamic and innovative financial ecosystem, with institutions and entrepreneurs eager to embrace new technologies, build new partnerships and play a greater role in Africa’s financial transformation. Ethiopia joining the PAPSS network is an important milestone. It connects Ethiopian financial institutions to a growing continental payments infrastructure and opens new opportunities for cross-border payments with the rest of Africa.
“I would like to thank Governor Eyob for his vision and support for PAPSS, and for accepting to co-host PAPSS COWRY 2026 with us. Our ambition is to deliver an African-owned conference to the standards of any leading international payments conference, bringing together the people who are shaping the future of payments in Africa and globally.”
Africa’s payments landscape is evolving rapidly. Payment systems are becoming increasingly interconnected, fintech innovation is accelerating, new technologies are changing how money moves, and growing intra-African trade is creating greater demand for efficient cross-border payments. COWRY will provide a platform to bring the public and private sectors together to address these developments and turn them into practical opportunities for Africa.
Over two days, discussions will cover cross-border payments, local currency settlement, interoperability, financial infrastructure, artificial intelligence, stablecoins, digital assets, cybersecurity and Africa’s integration with global payment networks.
PAPSS COWRY 2026 is expected to welcome more than 1,000 delegates, feature over 60 speakers and host more than 35 exhibition booths. Central Bank Governors, bank CEOs, fintech founders, payment switches, global payment networks, technology companies, regulators, corporates and other industry leaders from Africa and beyond are expected to participate.
Alongside its high-level conference programme, COWRY will offer extensive opportunities for networking, bilateral engagements, partnerships, business development and an exhibition showcasing solutions and innovations from across the payments industry.
The PAPSS COWRY Awards will also be presented during the PAPSS COWRY Gala Dinner on the evening of 26 November, recognising outstanding contributions across Africa’s payments ecosystem.
Financial institutions, fintechs, payment and technology companies, corporates, policymakers and payments professionals from Africa and around the world are invited to attend PAPSS COWRY 2026 in Addis Ababa.
Further information about PAPSS COWRY 2026 and registration to attend can be found on the site (https://apo-opa.co/4dYOwZF)
PAPSS COWRY 2026 | Africa’s Payments Conference
26–27 November 2026 | Ethiopian Skylight Hotel, Addis Ababa, Ethiopia
One Africa. Connected by Payments. Open to the World.
Distributed by APO Group on behalf of Afreximbank.
Media Contact:
Papa Samba Thiongane
Head Marketing&Communications, PAPSS
Email: communications@papss.com
Negede Yilma
Senior Communications Advisor, NBE
Email: negede.yilma@nbe.gov.et
About PAPSS:
The Pan-African Payment and Settlement System (PAPSS) is the brainchild of Afreximbank, Africa’s pre-eminent trade finance institution, whose mission includes stimulating the expansion, diversification, and development of African trade. PAPSS enables the efficient flow of money securely across African borders, minimizing risk and contributing to financial integration across the regions.
About the National Bank of Ethiopia:
The National Bank of Ethiopia is the central bank of the Federal Democratic Republic of Ethiopia. Established in 1963 and headquartered in Addis Ababa, the National Bank operates under the National Bank of Ethiopia Proclamation No. 1359/2025, which sets price stability as its primary objective while supporting sustainable and inclusive growth. NBE formulates and implements monetary policy through its Monetary Policy Committee, regulates and supervises banks and other financial institutions to keep the financial system safe and sound, oversees the national payment system, and manages the country’s foreign exchange reserves. NBE is also committed to expanding financial inclusion and literacy across Ethiopia.
For more information, visit www.NBE.gov.et.
