Lusaka, Zambia (PANA) – The African Export-Import Bank (Afreximbank) plans to introduce a mobile payment platform to support intra-African trade and payments, according to Bank President Jean-Louis Ekra.
President Ekra said at the opening of Afreximbank’s annual Seminar/Workshop on the Fundamentals of Structured Trade Finance in Lusaka, Zambia, that the successful introduction of the initiative would bring over US$50 billion of informal regional trade, which currently takes place on the continent, into the formal sector, with attendant benefits to governments, businesses and trade financiers.
He said Afreximbank was working with Econet Wireless Group to develop and introduce the platform, noting that mobile technology had become one of the most important instruments for the conduct of financial transactions in Africa and globally and was seen by trade practitioners as a potential instrument for supporting cross border trade and financial flows.
