COMESA Launches Digital Retail Payments Platform to Boost Cross-Border Trade

The Common Market for Eastern and Southern Africa (COMESA) has officially launched a Digital Retail Payments Platform, a landmark move aimed at streamlining regional trade and deepening economic integration across member states.

The new system enables traders to make cross-border payments using their local currencies, reducing reliance on the US dollar while lowering transaction costs. This innovation is particularly significant for small and medium-sized enterprises (SMEs), which form the backbone of Africa’s intra-regional trade.

By simplifying cross-border transactions, the platform will help businesses save time and money, foster trust between trading partners, and expand access to financial services—especially for those previously excluded from formal systems.

According to COMESA, the initiative supports the bloc’s broader goal of creating a digitally connected, inclusive, and competitive regional market, aligned with the objectives of the African Continental Free Trade Area (AfCFTA).

The launch underscores Africa’s growing commitment to digital transformation and regional economic integration, positioning technology as a key driver of trade growth and financial inclusion across the continent.