Geopolitical events
On August 19, 2026, the African Union (AU) officially launched the "Pan--African Payment and Settlement System" (PAPSS) across all 54 member states. This strategic macroeconomic policy is designed to facilitate intra--continental trade in local currencies, reducing the continent's reliance on the US Dollar and Euro. AU Chairperson Moussa Faki Mahamat stated that the system is projected to save $5 billion in annual transaction costs, providing a critical fiscal buffer against the ongoing volatility in global energy and currency markets.