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African financial market infrastructure PAPSS now ISO certified

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The Pan-African Payment and Settlement System (PAPSS), the centralized financial market infrastructure that enables the safe and efficient flow of money across African borders, is now ISO certified.

In a press release copied to Ghana Business News, the system’s operators, the African Export-Import Bank, the African Continental Free Trade Area Secretariat and the African Union announced that PAPSS is now ISO 27001 certified, committed to global security standards.

The release indicates that PAPSS has been recognized as compliant with the ISO27001:2013 standard following an external certification audit, conducted by an accredited certification body on June 27, 2022.

It also explains that ISO/IEC 27001 is an international standard on how to manage information security.

“The standard was originally published jointly by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) in 2005 and then revised in 2013. The framework specifies the requirements for establishing, implementing, maintaining and continuously improving an information security management system (ISMS). In the context of the organization. It also includes the need to assess and treat information security risks related to people, process and technology aspects to create business value and protect the image and reputation of the business,” the statement said.

By Emmanuel K. Dogbevi

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