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Pan African Payment and Settlement System and African Securities Exchange Association forge strategic partnership

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3 years ago

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Stock Exchange

African Export and Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) Secretariat developed PAPSS, which enables instant cross-border payment in local currency

CAIRO, Egypt, April 26, 2023/APO Group/ — 

The Pan African Payment and Settlement System (PAPSS) and the African Securities Exchange Association (ASEA) have signed a Memorandum of Understanding (MoU) to enhance collaboration and cooperation in promoting cross-border payments of Capital Markets infrastructure in Africa. The MoU was signed on 14 April 2023 during the ASEA 2023 Building African Financial Markets Seminar held in Victoria Falls, Zimbabwe, which brought together Stock Exchanges and capital markets stakeholders from across Africa to discuss ways to deepen integration and connectivity of African capital markets.

For a long time, investors doing business in Africa have struggled with making and settling cross-border payments. Payments take a long time to complete, are expensive since the existing environment necessitates the use of correspondent banks outside of the continent, and are done in foreign currencies (USD or Euro). Because of this, African Export and Import Bank (Afreximbank) and the African Continental Free Trade Area (AfCFTA) Secretariat developed PAPSS, which enables instant cross-border payment in local currency.

Through the umbrella of ASEA, with 9 exchanges and a combined market capitalization of $1.5 trillion, PAPSS provides an opportunity as the payment system to further enhance the African Exchanges Linkage Project (AELP), a flagship project of ASEA to facilitate cross-border trading of securities in Africa. PAPSS has started a period of fast deployment of its system throughout all African nations, having already gone live in the countries comprising the West African Monetary Zone (WAMZ), namely Nigeria, Ghana, Liberia, Gambia, and Guinea. As a result, Zimbabwe, Zambia, and Djibouti have recently joined the network and will soon be operational. This partnership with ASEA will also facilitate the deployment of PAPSS across the ASEA member nations.

Through our collaboration, we aim to create a reliable and efficient payment system that will enable investors to easily trade across different stock exchanges on the continent

Commenting on the signing, the Chief Executive Officer of PAPSS, Mr. Mike Ogbalu III, said: “PAPSS supports a wide variety of use cases, including cross-border retail and trade transactions for individuals and corporations and cross-border investments with the African Stock Exchanges. Consequently, working with ASEA, which pioneered the AELP with cross-border securities trading as a central tenet, is a significant step towards the rollout of PAPSS throughout the continent.

“This partnership is a demonstration of our commitment to driving trade flows and economic growth in Africa. Through our collaboration, we aim to create a reliable and efficient payment system that will enable investors to easily trade across different stock exchanges on the continent. Our immediate task is to create a workforce between PAPSS and ASEA as soon as possible to identify ways to facilitate the transfer of funds across ASEA member African Stock Exchanges. To that end, I’d like to extend an invitation to the relevant capital markets stakeholders to join us in this ground-breaking venture for the African business and investment communities.”

The President of ASEA and Chief Executive Officer of Botswana Stock Exchange, Mr Thapelo Tsheole, said: “We are delighted to partner with PAPSS on this important initiative. Our capital markets integration initiative through the AELP will play a critical role in deepening Africa’s capital markets and promoting cross-border investment. PAPSS’s expertise in payment settlement will be instrumental in the cross-border transfer of funds among the participating exchanges.”

PAPSS is unwavering in its dedication to fostering the growth of a thriving payment ecosystem and encouraging the development of new solutions for the economic advancement of the African continent and its people.

Distributed by APO Group on behalf of Afreximbank.

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Energy

Building a Knowledge Hub for China-ASEAN Energy Cooperation

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1 hour ago

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September 22, 2026

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ASEAN

NANNING, CHINA – Media OutReach Newswire – 21 September 2026 – During the 23rd China-ASEAN Expo and the China-ASEAN Business and Investment Summit, China Southern Power Grid showcased a range of innovations designed to support energy cooperation between China and ASEAN. These included the DaWatt – Lao Language Large Language Model (LLM) for the Energy and Power Sector V2.0 and the Flexible Grayscale Intelligent Monitoring & Analysis Platform for power system cybersecurity, highlighting expanding opportunities for cooperation in digitalization, intelligent technologies and green energy.

The Lao-language LLM has been deployed at Electricité du Laos Transmission Company Limited (EDL-T), where it can automatically analyze thousands of inspection images within a short period of time. After its algorithms were optimized for Laos’ mountainous and rainforest terrain, the model completed intelligent inspection analysis for four transmission lines, processing 26,000 drone inspection images and identifying more than 3,600 equipment defects.

 




 
 

Liu Ying, general manager of the Digitalization Department at Guangxi Power Grid Co., Ltd., said the company has been building multilingual professional corpora for the power sector, covering ASEAN countries including Laos, Vietnam and Malaysia. Drawing on the capabilities of the DaWatt foundation model, the company is developing energy and power models tailored to ASEAN languages and real-world power industry applications.

Talent development is another focus of the cooperation. The China-ASEAN Institute of Energy, jointly established by Guangxi Power Grid Co., Ltd. and Guangxi University, is exploring an industry-university training model with a strong emphasis on practical experience. So far, two cohorts totaling 53 students from ASEAN countries have enrolled.

Cooperation is also evolving from one-way training toward joint innovation. Guangxi Power Grid Co., Ltd. and the Royal Academy of Cambodia have jointly established a laboratory for artificial intelligence and safety equipment, while the company has also launched peer-to-peer exchanges with Electricité du Laos on improving power supply reliability.

To address language barriers in cross-border technical exchanges, Guangxi Power Grid Co., Ltd. has developed an AI-powered translation platform backed by a specialized database containing terminology for more than 1,800 types of power equipment. The platform supports accurate translation between Chinese and English, Chinese and Lao, and Chinese and Vietnamese.

At a recent training program for Chinese and overseas engineers, the system supported one-click generation of bilingual course materials and real-time speech translation, helping participants navigate highly specialized power-sector terminology.

To support regular international exchanges, Guangxi Power Grid Co., Ltd. has also established an international talent pool covering management, technical and skilled personnel. It has developed 24 hours of courses on international affairs as well as 20 short-form video courses.

“This year, we will also explore joint postgraduate programs with universities in ASEAN countries,” said Sun Xiaohua, deputy director of the Human Resources Department at Guangxi Power Grid Co., Ltd.

Looking ahead, Guangxi Power Grid Co., Ltd. plans to further advance a development model featuring “R&D in Beijing, Shanghai and Guangdong, integration in Guangxi, and application in ASEAN.” The company will continue expanding its multilingual power-sector corpora and explore a “Token Goes Global” model for power-sector AI, with computing resources and models based in Guangxi while knowledge services are delivered overseas. The effort is aimed at creating new forms of China-ASEAN energy cooperation and supporting the green development of the China-ASEAN Free Trade Area 3.0.
 




 

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Events

24th Sichuan Guangwu Mountain International Red Leaf Festival to Showcase Asia’s Spectacular Autumn Colors

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1 hour ago

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September 22, 2026

By

Red Leaf Festival

BAZHONG, CHINA – Media OutReach Newswire – 21 September 2026 – The 24th Sichuan Guangwu Mountain International Red Leaf Festival will run from October 1 to November 18 at the Guangwu Mountain Tourism Area in Bazhong, Sichuan Province, China.

Located in southwest China, Guangwu Mountain boasts a forest coverage rate of 97%, earning its reputation as a “natural oxygen bar.” Each autumn, 680 square kilometers of mountain forests burst into a dazzling palette. Over 40 tree species, including Fagus pashanica, maples and lindens, weave the mountains into a stunning autumn landscape.

Known as “Asia’s longest natural red carpet,” the Mountain has become a top autumn destination for backpackers, photographers and travelers seeking immersive cultural and nature experiences, and is widely recognized as one of western China’s signature autumn attractions.

 




 
 

The tourism area caters to international visitors who prefer slower-paced, in-depth, off-the-beaten-path travel. The new Yanziling Loop Boardwalk, launched in May 2026, winds along mountain cliffs, with a sea of clouds rolling beneath visitors’ feet and brilliant foliage unfolding alongside the trail, creating the feeling of “stepping into a painting.”

Guangwu Mountain offers a wealth of outdoor attractions. Highlights include the 1,888-meter Red Leaf Coaster and a glass water slide certified by Guinness World Record, combining thrilling experiences with stunning natural scenery.

The large-scale immersive production “New Dream of Guangwu Mountain” integrates cutting-edge light and visual technology with Bashan folklore and traditions, transforming the forest into an atmospheric nighttime experience. Visitors can also enjoy welcome performances and interactive robot activities, which offer more ways to discover the mountain’s late-autumn charm.

A major highlight of this year’s festival is the newly completed Micang Avenue. Stretching 85 kilometers, the route connects seven core scenic spots, including Guangwu Mountain, Micang Mountain, and Nuoshui River, reducing a four-hour drive to just one hour. Lined with continuous stretches of colorful forest and layered peaks, the avenue brings brand-new travel experiences for autumn foliage enthusiasts.

The festival will also feature cultural, sports and international exchange activities, including the third season of the “Sending You a Red Leaf” campaign, the China Micang Avenue International Road Cycling Race, and the “World Red Leaf Landmark” global collection campaign.

In addition, 31 scenic attractions and 18 museums and cultural venues across Bazhong will provide special ticket offers and visitor benefits during the festival.

Across mountains and seas, Guangwu Mountain invites visitors from around the world to witness one of China’s most vibrant red-and-gold autumn displays.
The issuer is solely responsible for the content of this announcement.
 
 




 

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Business

DHL Invests in Greater Middle East-Africa Connectivity with New Aviation Lane

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1 hour ago

on

September 22, 2026

By

DHL Express

The investment also reflects shifting global supply chains, as companies diversify sourcing, manufacturing and customer markets beyond traditional corridors

JOHANNESBURG, South Africa, September 21, 2026/APO Group/ —

  • New weekly B767/F Bahrain-Johannesburg service strengthens Sub-Saharan Africa connectivity and supports growing trade flows between Africa, the Gulf and global markets

DHL Express (www.DHL.com) has marked an important milestone in its regional aviation network with the successful operation of the first direct DHL flight between Bahrain and South Africa.

The inaugural flight arrived at OR Tambo International Airport in Johannesburg, opening a new weekly aviation lane operated by a DHL Express B767/F freighter. The route reinforces DHL’s continued investment in strengthening Sub-Saharan Africa network connectivity, expanding heavier-weight capability, improving flexibility and supporting growing trade flows between the Middle East and Africa.

 




  

As trade between Africa and the Middle East develops, businesses need resilient, well-connected logistics networks. The new service provides greater inbound and outbound capacity for South Africa and neighbouring countries through the DHL Johannesburg Hub, one of the company’s key gateways on the continent.

 

The investment also reflects shifting global supply chains, as companies diversify sourcing, manufacturing and customer markets beyond traditional corridors. Bahrain’s position as a gateway between Africa, the Gulf and Asia make it an important link for businesses seeking faster access to international markets.

 

Every new connection we introduce is designed with our customers in mind

“Every new connection we introduce is designed with our customers in mind. As global trade routes diversify and economic ties between Africa and the Middle East continue to strengthen, we are seeing powerful geographical tailwinds creating new opportunities for businesses. Demand is growing across sectors such as healthcare, technology, manufacturing and cross-border e-commerce, all of which rely on fast, reliable international logistics,” said Anthony Beckley, Vice President of Operations and Aviation for DHL Express Sub-Saharan Africa.

 

“While this first direct DHL flight between Bahrain and South Africa is a significant network milestone, its real value lies in the opportunities it creates for customers.”

 

 

South Africa is one of DHL’s Geographic Tailwinds markets, reflecting its growing role in global trade flows and its potential to drive future trade growth. And Johannesburg remains a critical gateway in DHL’s SSA network, linking South Africa and neighbouring markets to global opportunities through Bahrain and the wider DHL aviation network. Through continued investment in routes, aircraft capacity and hub connectivity, DHL is supporting customers across this dynamic lane.

 

“DHL Express is the only logistics provider operating a dedicated intra-regional air fleet across the Middle East, connecting customers through Bahrain with major global gateways including Hong Kong, Leipzig and Cincinnati,” said Richard Gale, Vice President of Aviation, DHL Express MENA.

 

“Bahrain’s position at the crossroads of Africa and the Middle East makes it an ideal hub for customers seeking faster, more reliable access across these growing trade corridors. We are pleased to add this direct Johannesburg connection as economic ties between Africa and the Gulf deepen.”

 

DHL remains committed to helping customers seize opportunities created by changing trade patterns and expanding economic relationships.

Distributed by APO Group on behalf of DHL Express.

 

 




 

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