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Had the privilege of engaging in a constructive dialogue at the Zanaco House, Lusaka, with the leadership of Zambia National Commercial Bank (Zanaco) PLC. Dr Jonathan Pinifolo (COO, COMESA Business Council), Mr. Yoseph Wondimu (CIO), Nyi Nyein Aye (CEO, ThitsaWorks), and Rob Reeve (CEO, LexTego) were all present, sharing pivotal updates on the Proof of Concept (PoC) for the COMESA Digital Retail Payments Scheme between Malawi 🇲🇼 and Zambia 🇿🇲.
Kudos to Mr. Mathews T. Tembo, Zanaco's Chief Digital Banking Officer, Mr. Baruch Chambakata, Head of Digital Sales, and the entire Zanaco Team for the invaluable insights. Our shared vision is clear - improving cross-border trade in the COMESA region.
Background:
COMESA, representing 21 Eastern & Southern African nations, is on a mission to bolster economic integration and development. A significant roadblock has been the inefficiency of cross-border retail payments. SMEs suffer, traders are hindered, and trust wanes due to potential data breaches.
To address this, the COMESA Business Council is spearheading a robust retail payment platform tailored for COMESA Member States. With the ongoing POC, with support from the Mojaloop Foundation, we're determining the potential of a secure, fast, and cost-effective retail payment platform for cross-border transactions.
Our goal is not just to devise a payment system but to sculpt an infrastructure that champions financial inclusion, and regional growth. 🚀
Stay tuned as we, alongside stakeholders from Malawi and Zambia, embark on this transformative journey towards enhancing retail payment platforms within COMESA.
Learn more about ThitsaWorks' Financial Inclusion Journey: https://www.thitsaworks.com/