COMESA Launches Local Currency Trade Platform
Update: 2025-12-18
Description
COMESA Launches New Digital Platform for Local Currency TradingThe Common Market for Eastern and Southern Africa (COMESA) has introduced a digital platform enabling its twenty-one member states to trade directly in their local currencies. This initiative, called the Digital Retail Payments Platform, aims to reduce settlement delays and lower transaction costs. By using local currencies, the new system seeks to keep more money within the region and enhance trade efficiency. The platform, which has undergone successful pilot tests, could significantly boost intra-regional trade and reduce reliance on international payment systems.
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