Explainer| Would the African payment system liberate Africa from the US dollar?
Urban & Economy_
Egypt’s integration into PAPSS aims to slash cross-border trade costs and ease dollar dependency, but low intra-African trade limits the system’s immediate impact.
Acquisition frenzy: Inside the Gulf’s rapid expansion in Egypt’s banking sector
Urban & Economy_
Driven by sky-high net interest margins and currency devaluations, Gulf financial giants now control over a quarter of the active institutions in Egypt’s banking sector.
