Africa-Press – Malawi. The Reserve Bank of Malawi (RBM) has said harmonising regional payment systems is key to facilitating cross-border trade.
RBM Deputy Governor Kisu Simwaka made the remarks in Lilongwe on Friday during a Common Market for Eastern and Southern Africa (Comesa) Regional Payment and Settlement System (Repss) and Digital Retail Payments Platform (DRPP) Friendly User Trial Workshop.
Simwaka said the Comesa region was at a decisive moment where improving payment systems was essential to deepening financial inclusion and boosting cross-border trade.
He described REPSS as a secure and reliable platform that has strengthened trust among participating countries since 2013.
Simwaka said the upcoming DRPP marked a major step forward, enabling instant payments, local currency settlements and wider access for micro, small and medium enterprises (MSMEs).
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Comesa Clearing House Executive Secretary Jedidiah Ndebele said strong payment systems required the broad participation of businesses, SMEs, traders and citizens.
She said REPSS and DRPP provide secure, affordable cross-border payments that support trade and SMEs.
Bankers Association of Malawi President Phillip Madinga highlighted the transformative potential of REPSS and DRPP.
Madinga said the platforms were not simply technological innovations but bridges to empowerment and regional integration.
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