News Finances

COMESA Launches Digital Platform to Cut the Cost and Risk of Cross-Border Trade

COMESA Launches Digital Platform to Cut the Cost and Risk of Cross-Border Trade
Sunday, 12 October 2025 18:41
  • COMESA launches local-currency digital payment platform DRPP
  • DRPP enables cross-border trade without using U.S. dollars
  • Aims to cut costs, boost SME access, and reduce currency risk

The Common Market for Eastern and Southern Africa (COMESA) said on Thursday, October 9, that it had launched a local-currency digital payment system known as the Digital Retail Payments Platform (DRPP).

The initiative is run by the COMESA Clearing House (CCH), the bloc’s unit responsible for developing and managing regional payment and settlement systems. The CCH said the DRPP has successfully progressed from integration testing to user trials on the Malawi–Zambia payment corridor.

Developed in partnership with two unnamed fintech firms and a foreign exchange service provider, the DRPP aims to lower transaction costs for businesses by removing the need to convert local currencies into foreign ones—mainly the U.S. dollar—for cross-border payments between COMESA member states.

Kenyan Trade Minister Lee Kinyanjui welcomed the launch, saying, For the first time, cross-border trade within COMESA can be settled directly in local currencies. This shift reduces reliance on scarce foreign currency, shields businesses from volatility, lowers costs, and opens the door for SMEs, women, and youth to fully participate in regional trade.” He said the system aims to keep transaction costs below 3% of trade value.

Established in 1994 to promote economic integration through trade and the development of human and natural resources, COMESA now includes 21 member states, among them the Democratic Republic of Congo, Djibouti, Egypt, Ethiopia, Kenya, Rwanda, Sudan, Tunisia, Uganda, and Zambia.

Walid Kéfi

On the same topic
Standard Bank arranged a $250m facility to fund Aradel Energy’s expansion and acquisition plans. The deal allows Aradel to raise its stake in ND...
Cameroon ratifies AfDB loans worth 89 billion CFA francs Funding backs CAP2E youth employment project in the Far North Project targets training, jobs,...
Cameroon ratifies AfDB loans worth 89 billion CFA francs Funding backs CAP2E youth employment project in the Far North Project targets training, jobs,...
Burkina Faso adopts 2026-2030 Recovery Plan guiding economic and social policy Five-year plan mandated by law, replacing previous national development...
Most Read
01

Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...

Global Firepower Index 2026: Egypt, Algeria, Nigeria Lead Africa's Military Rankings
02

Circular migration is based on structured, value-added mobility between countries of origin and host...

Circular migration as a lever to turn Africa’s student exodus into value
03

BRVM listed the bonds of the FCTC Sonabhy 8.1% 2025–2031, marking Burkina Faso’s first securitiz...

BRVM Lists Burkina Faso’s First Securitization Fund Bonds
04

CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...

Ethiopia’s CBE launches digital platform to channel diaspora remittances
05

President Tinubu approved incentives limited to the Bonga South West oil project. The project tar...

Nigeria approves targeted incentives to speed up Shell’s Bonga South West project
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.