Let me tell you about my friend. Let's call him Marco because, well, that's his name and he gave me permission to roast him publicly. Marco called me one afternoon, voice dripping with existential dread. He'd been sending out CVs like confetti at a wedding, applying to companies in his new country where—get this—his qualifications were literally in high demand. We're talking about skills so sought-after that recruiters should have been fighting over him like shoppers on Black Friday. Instead? Rejection after rejection after soul-crushing rejection. He'd even hired not one, but TWO job agencies. You know, those people whose literal job description is "get people jobs." And what did one of them tell him? That he didn't have the right qualifications for their clients. I'm sorry, WHAT? So there we were, sitting over lunch—him picking sadly at his pasta, me wondering how someone could mess up a CV this badly—and I asked to see the infamous docume...
The continent is finally taking control of its own money. Here's why you should care. Picture this: You're a small business owner in Lagos trying to pay your supplier in Nairobi. Under the old system, your money would take a bizarre journey. First, it converts to US dollars. Then it bounces through correspondent banks in New York or London, racking up fees at every stop. Days later, your supplier finally receives Kenyan shillings—minus a chunk lost to conversion fees and intermediary charges. The whole process is slow, expensive, and frankly, ridiculous. But there's a new player in town that's flipping this colonial-era system on its head: the Pan-African Payment and Settlement System, or PAPSS. What Exactly Is PAPSS? Launched on January 13, 2022, by the African Union and the African Export-Import Bank (Afreximbank), PAPSS is Africa's answer to a problem we've tolerated for far too long. According to reports from the system's official communications, it...