Reported about 6 hours ago
The Common Market for Eastern and Southern Africa (COMESA) has introduced a new digital payments system aimed at reducing transaction costs for businesses by enabling cross-border trade using local currencies. This initiative, which begins with trials between Malawi and Zambia, is designed to support small and medium enterprises and is expected to keep costs below 3% of transaction values. Kenyan officials highlighted that this platform marks a significant shift in facilitating trade among member states without relying on foreign currency.
Source: YAHOO