Foreign exchange and cross-border payments provider Crown Agents Bank has partnered with business platform Invest Africa . Specifically, the two entities announced a collaboration titled ‘The Payments Exchange,’ aimed at offering insight into the role of foreign exchange (FX) and payments in Africa's economic transformation.

This collaboration will encompass events and content throughout 2024, exploring the significance of payments and FX in realising the ambitions of the African Continental Free Trade Agreement and future trade and investment. According to the official press release, Africa's increasing global significance, marked by permanent G20 membership and expanded BRICS involvement, is underscored by its growing population, abundant resources, and rapidly growing economies. However, challenges such as political discord and inadequate investment persist.

The Payments Exchange seeks to convene African central bankers, finance ministries, fintechs, development finance institutions, pan-African banks, and other stakeholders to address solutions for enhancing access and improving money flow across the continent. Attending the Africa Debate As part of the initiative, Crown Agents Bank and Invest Africa will host a breakfast roundtable alongside Invest Africa’s flagship event, The Africa Debate. The 10th edition of The Africa Debate will focus on advancing trade and investment between Africa and the rest of the world, with plans to attract over 500 investors, market leaders, and senior decision-makers across various sectors.

Additionally, the collaboration will involve the publication of articles and podcasts, along with an event during the World Bank Annual Meetings in Washington DC. Officials from Crown Agents Bank expressed pride in launching The Payments Exchange Series in partnership with Invest Africa, aiming to support dialogue and action to empower Africa's economic evolution through an optimised payments infrastructure. Representatives from Invest Africa Ltd emphasised the critical role of payments infrastructure in driving economic growth and investment across Africa, pledging to amplify the conversation and champion initiatives for financial inclusion and business development on the continent.

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