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2 clusters · 4 sources · 3 days · First seen 18 days ago · Last updated 15 days ago

East African Community regional payment implementation

Overview

The East African Community (EAC) has transitioned from the planning phase to the implementation phase of its Cross-Border Payment System Masterplan. Following a joint meeting of central bank representatives and technical working groups in Mombasa, Kenya, the bloc has established a roadmap to create an integrated, secure, and affordable regional payments ecosystem.

The implementation is structured around four pillars: Governance, Legal, Regulatory and Oversight; Infrastructure; Inclusivity; and Capacity Building. These pillars include 20 strategic initiatives, such as a regional passporting mechanism to allow licensed payment service providers to operate across the bloc and a Mutual Recognition Framework.

Entities

Bank of Uganda · East African Community · National Bank of Rwanda · World Bank · African Union

Timeline

15 days ago

[BUSINESS] 2 sources
Africa advances financial integration through new payment systems and credit rating agency
The East African Community is implementing a regional cross-border payment system, while the African Union's APRM prepares to launch Africa's first continental credit rating agency in October.
18 days ago

[BUSINESS] 2 sources
East African Community launches regional cross-border payment implementation
The East African Community has launched three technical working groups to implement a regional masterplan for secure, efficient, and inclusive cross-border payment systems across the bloc.

Sources

africaeaffari.it · agribusiness.asn.au · thecooperator.news · topafricanews.com