Sao Tome and Principe: African Development Bank signs $3.2 million loan agreement for upgrade of National Switch payment system

Posted by - March 31, 2023

The African Development Bank Group and the government of Sao Tome and Principe have signed a $3.2 million loan agreement to upgrade the country’s National Switch payment system that supports the clearing and settlement of country wide high-value and retail payments. The upgrade will allow for automatic Real Time Gross Settlement (RTGS) modules and Automated