SWIFT has released figures showing its business in Africa is outperforming the its growth globally, with African volumes growing by 16 per cent compared to 10 per cent worldwide. The company said figures released at its 21st African Regional Conference in Marrakesh, Morocco, provide more evidence of Africa’s growth and long term trends, highlighting the
Africa has emerged as the Society for Worldwide Interbank Financial Telecommunication’s (SWIFT’s) fastest growing region, with a 17 per cent increase in total transaction volumes over the SWIFT network in the year ending March 2014. Globally, the company said within the same period traffic volumes rose by 9.7 per cent. In Africa, Nigeria recorded the
SWIFT has announced that Banco Nacional de Angola is implementing SWIFT’s Sanctions Screening service to help the country meet its financial crime compliance obligations. SWIFT Sanctions Screening is a cloud-based subscription service that filters messages in real time and checks against customers’ selected sanctions lists. Once active, the Sanctions Screening service automatically routes messages in
The Central Bank of Nigeria’s high value payment system has gone live on SWIFT. The move to SWIFT is a key element of the Central Bank of Nigeria’s Payment System Vision 2020 (PSV2020), which calls for a “Nationally Utilised and Internationally Recognised” payments system and provides a robust platform to support Nigeria’s continued economic growth.
On Sunday 21 July, the SADC (South African Development Community) Integrated Regional Electronic Settlement System (SIRESS) was successfully implemented in a live environment for the four countries of the Common Monetary Area: South Africa, Namibia, Lesotho and Swaziland. All participants in Lesotho, Namibia and South Africa successfully participated in the implementation activities on Sunday 21 July