Russia may join the African payment platform
The Common Market of Eastern and Southern Africa (COMESA) is interested in Russia joining its regional digital payment platform. This was stated to the Izvestia newspaper by the representative of the organization, Oita Etiyang.
Russia's accession is economically beneficial for both sides. This will solve logistical and transactional problems in mutual settlements and make it easier for Russian businesses to enter the African continent.
Digital Retail Payments Platform is a COMESA system for crossborder settlements in local currencies, which is designed as a mechanism to reduce dependence on the dollar, fluctuations in its exchange rate and business fees.
A pilot use of the system has been launched between Malawi and Zambia, and then the platform is planned to be expanded to other countries of the association.
IZVESTIA
