The Bank of Central Africa is implementing a real-time gross settlement (RTGS) platform supplied by Stockholm-based CMA Small Systems.
The central bank will install CMA's RTS/X software at all the branches located across the member countries of the Central African Economic and Monetary Community (CEMAC).
CMA says the software minimises risks while efficiently integrating into an existing infrastructure and will make it possible to carry out interbank payments on a real-time basis while improving liquidity management for the regional payment system.
The software will be delivered by CMA's France office and implemented by Senegal-based Chaka Computer and Cameroon's Chaka Banque Finance.
Following initial contracts in Russia, CMA has installed national payments systems in Macedonia, Azerbaijan, Serbia, and Western Africa.