MEFMI and FINSYS conduct joint Seminar on Cross Border retail Payments

MEFMI collaborated with FINSYS, a niche advisory consulting firm incorporated in the United Republic of Tanzania, to conduct a regional seminar on Key Policy Issues in Cross Retail Payments. The seminar was held in Arusha, Tanzania from 23 to 27 October 2023.

The main objective of the seminar was to provide a platform for key policymakers and regulators to discuss the main policy issues about cross border retail payments and come up with recommendations that can be implemented to promote convenient, faster and more affordable cross-border retail payments in the region.  The seminar was targeted at senior officials, that is Directors, Heads and Deputy Heads of Departments who are responsible for developing and/or implementing national payment systems policies as well as operating and exercising oversight of national payment systems.

The seminar was officially opened by Mr Ted Frank Sikuluwasha, Deputy Commissioner of Technical Services in the Domestic Revenue Department of the Ministry of Finance, Tanzania on behalf of the Deputy Permanent Secretary Mr Elijah Mwandumbya.  Mr Sikuluwasha expressed gratitude to MEFMI and FINSYS for collaborating in organising the seminar which he said was timely considering the current efforts to promote regional and intra-Africa trade and the growing contribution of diaspora remittances.

A total of 27 officials from 11 MEFMI member countries attended the seminar.  Nine (i.e., 33 per cent) of the participants were female while the remainder were male. MEFMI expects the officials to use the knowledge acquired from the seminar to promote policies that facilitate the growth of cross-border retail payments in the region.

By Noel Mahombera