São Tomé gets loan for RTGS upgrade
Island country lacks automated system
The African Development Bank granted a $3.2 million loan to São Tomé and Principe to upgrade its wholesale payment system. The multilateral lender approved the loan on March 8.
In its release, the development bank said São Tomé will be able to install automated systems. “The upgrading will allow for the surge of digital payment, mobile money and other digital services,” the bank said.
São Tomean finance minister Ginésio de Mata said: “This fund will facilitate the financial inclusion of the
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