COMESA Launches Digital Retail Payment Platform to Boost Cross-Border Trade and Financial Inclusion
In a major milestone for regional economic integration, the Common Market for Eastern and Southern Africa (COMESA) has launched the Digital Retail Payment Platform (DRPP),a new cross-border digital payment system designed to empower Micro, Small, and Medium-sized Enterprises (MSMEs), enhance financial inclusion, and reduce the cost of doing business across member states.
The Cabinet Secretary for Investments, Trade and Industry, Lee Kinyanjui speaking during the 24th COMESA Summit of Heads of State and Government held at the KICC in Nairobi , hailed the platform as a transformative step in making regional trade more accessible and inclusive.
“This is a game-changer. For the first time, cross-border trade within COMESA can be settled directly in local currencies. This reduces costs, shields businesses from currency volatility, and opens the door for MSMEs, women, and youth to participate more fully in regional trade,”said the CS.
The Digital Retail Payment Platform is designed to be instant, inclusive, and affordable, with a target of keeping transaction costs below 3%, in line with the United Nations Sustainable Development Goals. It allows traders to send and receive payments across borders instantly using local currencies, eliminating the need for scarce foreign exchange and minimizing exposure to exchange rate fluctuations.
CS Kinyanjui emphasized that the platform will bring practical benefits to ordinary citizens and small business owners.
“The woman trader at the border can now pay her supplier instantly with a phone transaction and continue her journey in confidence. The young entrepreneur can now scale their innovation beyond borders. This platform offers not just speed and affordability—it offers dignity,”he noted.
The DRPP also supports interoperability, meaning banks, mobile money providers, fintechs, and other digital financial service providers can all connect to the system. This ensures that users, regardless of the financial tools they use, can transact with one another seamlessly.
The DRPP builds on the earlier success of the Regional Payment and Settlement System (REPSS), which enabled institutional cross-border payments using hard currencies. The DRPP, by contrast, focuses on retail-level trade, directly targeting the needs of small traders and everyday users.
The pilot phase begins with the Malawi–Zambia corridor, showcasing the platform’s ability to process real-time payments between the two countries without requiring U.S. dollars or other foreign currencies.
CS Kinyanjui acknowledged the collaboration and support of multiple stakeholders in bringing the platform to life.
“This journey has been marked by innovation, resilience, and collaboration. We commend the Governors of Central Banks, our development partners, and the private sector for believing in this vision and turning it into reality,”said CS Kinyanjui.
With the DRPP now entering its implementation and operations phase, COMESA aims to roll it out across eight pilot countries, with plans to expand to all member states. The platform is expected to enhance the capacity of financial institutions, enable MSMEs to shift from cash to digital payments, and drive deeper regional economic integration.
CS Kinyanjui urged stakeholders to continue working together to unlock the full potential of the platform.
“This is more than a payment system. It’s a foundation for inclusive growth, a bridge for small traders, and a catalyst for regional prosperity,”he noted.