Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Cryptocurrency»COMESA Launches Digital Platform to Cut the Cost and Risk of Cross-Border Trade
    Cryptocurrency

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

    October 12, 20252 Mins Read


    • 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 24th COMESA Heads of State and Government Summit was held on 9 October 2025 in Nairobi, Kenya, with leaders making a strong appeal for collective action to boost intra-regional trade across the 21 Member States.#COMESASummit2025 @Egypt_Kadah pic.twitter.com/TUcx99oewt


    — COMESA Governance, Peace and Security (@COMESA_GPS) October 11, 2025

    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.

    The COMESA Digital Retail Payment Platform (DRPP) is a game-changer for regional trade.

    Addressing the 24th COMESA Summit of Heads of State and Government, I underscored the importance of the DRPP as an instant, inclusive, and affordable cross-border payment system that keeps… pic.twitter.com/hKrKmU2YtK


    — Hon Lee Kinyanjui (@GovLeeKinyanjui) October 9, 2025

    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





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    Trump Cryptocurrency Policies Boost XRP Tundra’s Arctic Appeal

    Cryptocurrency

    CBDCs : Majority Of Central Bank Digital Currency PoCs Have Not Moved Beyond Pilot Stage

    Cryptocurrency

    1 Top Cryptocurrency to Buy Before It Soars 625%, According to Ark Invest’s Cathie Wood

    Cryptocurrency

    Why Is This Pullback the Golden Moment CXC10 Has Been Waiting For?

    Cryptocurrency

    Cryptocurrency Market Faces Renewed Pressure as Bitcoin, Ethereum Drop to Multi-Week Lows

    Cryptocurrency

    Major banks explore stablecoin pegged to G7 currencies

    Cryptocurrency
    Leave A Reply Cancel Reply

    Top Picks
    Fintech

    Transcript : Remitly Global, Inc. Presents at Barclays 15th Annual Emerging Payments and FinTech Forum, May-20-2025 10

    Commodities

    Les monstres de métal de Jean Tinguely reprennent joyeusement vie dans une exposition en Suisse

    Fintech

    Pulse of Fintech H1 2024

    Editors Picks

    Aya Gold & Silver obtient des résultats à haute teneur en argent à la mine Zgounder au Maroc

    March 26, 2025

    US Utilities Face Scramble to Meet New Demand

    October 20, 2024

    Is This Correction Your Chance? Top 5 Canadian Dividend Stocks on Sale

    March 21, 2025

    A New Era for Digital Assets in 2025 • Daily Market News 🗞️

    April 11, 2025
    What's Hot

    Agricultural innovation listed as key to France-Kenya cooperation

    April 10, 2025

    Bryan Danielson ‘infinitely more confident’ about retirement now compared to 2016

    September 28, 2025

    Marimaca Copper rejoint la liste officielle de l’ASX

    March 31, 2025
    Our Picks

    Use It Or Lose It Crackdown Hits Crypto Exchanges

    April 28, 2025

    Le Covid, 5 ans après (4/5)

    March 20, 2025

    Quand l’IA ne suffit pas : Klarna réintègre le contact humain dans son service client

    May 14, 2025
    Weekly Top

    Dow, S&P 500, Nasdaq stage comeback as Trump tempers tariff talk toward China

    October 13, 2025

    CBDCs : Majority Of Central Bank Digital Currency PoCs Have Not Moved Beyond Pilot Stage

    October 13, 2025

    Trump gave specific intelligence to Ukraine for strikes on Russian energy

    October 13, 2025
    Editor's Pick

    Ebook | The global metals and mining outlook: a cross-commodity view

    July 16, 2024

    Minecraft Live Reveals The Copper Age Release Date, New Game Drop, and More

    September 27, 2025

    Silver (XAG) Forecast: Will Upcoming CPI Data Ignite a Silver Price Rally?

    August 11, 2024
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.