HARMONISATION OF EXISTING PAYMENTS SYSTEM INFRASTRUCTURE ACROSS ECOWAS
The West African Monetary Agency (WAMA) was mandated by the authority of Heads of States of ECOWAS to facilitate the realisation of the ECOWAS Payments and Settlement Systems (EPSS) infrastructure in line with the vision to come up with a single Central Bank and a single currency.
The EPSS project is the initiative to harmonise the diverse existing payments and settlement system infrastructures in ECOWAS by developing a single regional payment and settlement system.
The West African Monetary Agency (WAMA) has received a grant from the African Development Bank through the Africa Digital Financial Inclusion Facility (ADFI). This financing will be used to execute the ECOWAS Payments and Settlement Systems project's Regional Instant Retail Payment System components and to finish some of the work on the Real Time Gross Settlement (RTGS) System.
