The MSME Digital Financial Inclusion Project’s overall goal is to support the development of a Regional Digital Retail Payments Platform that serves Micro Small and Medium Enterprises (MSMEs) in COMESA Region thereby improving cross border trade.
CBC is implementing a Digital Financial Inclusion (DFI) programme that supports the design, development and deployment of an integrated regional digital retail payment scheme that is low-cost, interoperable and fraud resistant that serves Micro Small and Medium sized Enterprises (MSMEs), for the COMESA region. The program has a keen focus on women and youth.
This will evolve from a regulatory focus approach to the business model, to actual operational and technical establishment, with clearly defined components.
Key project Objectives
To develop a compelling value proposition for public and private stakeholders
including regulators, on an instant low value payments infrastructure, that facilitates transactions in real time, and safely regardless of who they choose as the financial services provider, their location and time of the day.
To support the design, development and deployment of an integrated digital financial services Infrastructure
(regulatory and modelling) that is low-cost, interoperable and fraud resistant that serves MSMEs and the customers they transact with at the bottom of the financial pyramid
To establish a digitally inclusive regional payment scheme
that lowers transaction costs for MSMEs, and the majority are women for whom growing, making and selling food, products and services are the means to survive
To streamline cash-based MSMEs into digital markets
that enjoy affordable, interoperable, transparent, real-time financial transactions.
To increase volumes of cross border transactions
financial inclusion and the participation of MSMEs in regional trade.
To develop capacity building
of the Regional digital retail payment platform
Status of Key Project Outputs
Business Case Development
Business Case & Model Policy development completed & validated.
PPD: 20th – 21st Jan 2021
Validation of Model Policy completed. PPD: 27th July 2021
First validation of Business Model completed.
PPD: 3rd Dec 2021
Technical Capacity Building
7 Technical Capacity Building Modules for MSMEs developed
Digital Retail Payments Platform for MSMEs
Final validation of Business Model. PPD: 10th March 2022
Level One Design Principles
The following proposed level one principles are taken into account in the scheme design.
Real-time, Push Payments
Government Support/ Regulatory Oversight
Cost-Recovery Based/ Low Cost Payments
Shared Fraud Service
End User Experience
Use Cases Drive Scale