The COMESA Clearing House (CCH) initiative, the Digital Retail Payments Platform (DRPP), has successfully moved into user trials within the Malawi and Zambia payment corridors. The launch of the DRPP took place alongside the conclusion of the 24th COMESA Heads of State and Government Summit in Nairobi, Kenya
The Common Market for Eastern and Southern Africa (COMESA) intends to use this initiative to promote digital financial integration across COMESA’s 21 member states.
The DRPP is intended to ease the longstanding barriers to cross-border payments and facilitate regional trade by allowing transactions to be settled using local currencies.
CCH announced the successful progression of the Malawian and Zambian corridors from technical integration testing into the crucial user trial phase. This initial trial is being supported by two Digital Financial Service Providers and one Foreign Exchange Provider. One of the partners for this initiative is Zamtel.
The COMESA Clearing House (CCH) is a specialized financial institution of the Common Market for Eastern and Southern Africa (COMESA), established under the COMESA Treaty to strengthen financial cooperation and regional integration.
In addition to operating the established Regional Payment and Settlement System (REPSS), CCH is piloting the DRPP to extend instant, inclusive payments to micro, small, and medium enterprises (MSMEs), women, and underserved communities.