Douala, August 14, 2025 – United Bank for Africa (UBA) Cameroon has strengthened its ties with the African Export-Import Bank (Afreximbank) as part of a shared commitment to advancing the African Continental Free Trade Area (AfCFTA).
In a high-level meeting at UBA Cameroon’s headquarters in Douala, Managing Director Jude Anele welcomed an Afreximbank delegation led by the head of banking operations, alongside senior representatives from the West African Monetary Union (WAMU) region and the sub-regional office in Yaoundé.
The discussions centred on enhancing institutional relations, with a particular focus on cross-border payment innovations and intra-African trade financing.
The meeting comes as the two institutions build on an already established collaboration. Last month, UBA announced the launch of LEO, its artificial intelligence-powered chatbot, developed with support from Afreximbank. This digital solution enables fast, secure, and efficient cross-border transactions — a vital tool for merchants, businesses, and individual customers.
Operating under the AfCFTA framework, the chatbot uses the Pan-African Payment and Settlement System (PAPSS), a platform designed in partnership with Afreximbank to facilitate payments in local currencies between African countries whose central banks have approved PAPSS usage.
UBA says the system offers multiple benefits: near-instant transfers, reduced processing fees, free transactions for beneficiaries, and simple access through self-service channels. Crucially, it also helps formalise previously informal trade flows, a key goal of the AfCFTA’s mission to expand and integrate African markets.
“This high-level meeting confirms the desire of UBA Cameroon and Afreximbank to work hand in hand to accelerate the transformation of the African banking landscape in the service of local economies,” UBA Cameroon stated on its official channels.
The strengthened alliance underscores a growing push among African financial institutions to leverage technology and collaborative frameworks to unlock the full potential of continental trade.
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