The East African Community (EAC) and the Intergovernmental Authority on Development (IGAD) have moved a step closer to regional digital financial integration after jointly hosting a five-day workshop focused on payment systems interoperability.
Held in Addis Ababa, Ethiopia, the IGAD-EAC-World Bank Joint Workshop brought together Central Banks, digital finance experts, and senior policymakers from nine Eastern African countries.
The event was part of the Eastern Africa Regional Digital Integration Project (EARDIP), a joint EAC-IGAD initiative supported by the World Bank.
EARDIP seeks to build a more integrated digital market by expanding broadband access and creating enabling conditions for cross-border digital services, including seamless digital payments.
At the centre of discussions was a major challenge: fragmented and non-interoperable payment systems that hinder cross-border trade, remittances, and financial inclusion.
While countries like Kenya and Ethiopia have achieved significant domestic interoperability, regulatory and technical disparities continue to block regional connectivity.
Dr. Mohyeldeen Eltohami, Director of Economic Cooperation and Regional Integration at IGAD, described the workshop as a transformative moment.
“The collaboration between EAC and IGAD exemplifies the regional solidarity needed to realise a digitally integrated, prosperous future for Eastern Africa,” he said.
Echoing this call, Eng. Daniel Murenzi of the EAC Secretariat stressed that payment interoperability is now an essential pillar of regional prosperity.
He urged countries to review and harmonise payment regulations and infrastructure.
Gynedi Srinivas from the World Bank noted the workshop aligns with the global G20 roadmap for faster, safer, and cheaper cross-border payments.
He emphasised the benefits for individuals and MSMEs, who stand to gain from faster and low-cost transactions.
Participants discussed key themes such as shared digital infrastructure, regulatory harmonisation, cybersecurity, and emerging technologies like AI, blockchain, and central bank digital currencies. They also called for unified cybersecurity frameworks and real-time cross-border threat intelligence sharing.
The workshop attracted representatives from central banks across nine IGAD and EAC countries, alongside World Bank experts and a delegate from the Bank of Italy.
It concluded with a call for continued collaboration, peer learning, and annual joint reviews to accelerate cross-border digital finance across the region.
