The Common Market for East and Southern Africa (Comesa) has expressed optimism that the new digital payment system will create new trade and economic opportunities for businesses in the regional bloc.
Comesa Business Council’s second vice-president James Chimwaza said this yesterday at the Bingu International Convention Centre in Lilongwe where his organisation is holding the fifth Digital Financial Inclusion Public-Private Dialogue.
Addressing delegates to the event, he said: “MSMEs [micro, small and medium enterprises] are the backbone of our economy.
“Empowering them is key to promoting economic transformation. The digital payment system will allow businesses to expand their operations in the Comesa region.”
The dialogue, which brings together delegates from the businesses and associations from 34 sectors in the 21-member bloc, will validate the digital payment system.
Malawi Communications Regulatory Authority director general Daud Suleman said regulators in the country will have to create a robust legal framework that can balance between fostering innovation in the digital space and protecting consumers’ interests. n
