East African Community launches regional cross-border payment implementation

The East African Community (EAC) has transitioned from the planning phase to the implementation phase of its Cross-Border Payment System Masterplan. To facilitate this, three Technical Working Groups (TWGs) were inaugurated during a joint meeting held in Mombasa, Kenya, from August 18 to 22, 2026.

The meeting included representatives from the central banks of all EAC Partner States, the EAC Secretariat, and development partners such as the World Bank, GIZ, FSD Network, and TradeMark Africa. The proceedings were chaired by the Bank of Uganda, with the National Bank of Rwanda acting as rapporteur.

The Masterplan is structured around four pillars: Governance, Legal, Regulatory and Oversight; Infrastructure; Inclusivity; and Capacity Building. These pillars encompass 20 strategic initiatives designed to create an integrated, secure, and affordable regional payments ecosystem.

During the meeting, the TWGs reviewed three foundational documents: a Monitoring and Reporting Framework aligned with G20 targets, a Regional Cooperative Oversight Framework to manage supervisory responsibilities and dispute resolution, and a Mutual Recognition Framework. The latter proposes a regional passporting mechanism to allow licensed payment service providers to operate across the bloc.