1.2 AFRICAN REGIONAL PAYMENTS INITIATIVES
While most of the economic regions in Africa have developed some form of regional payment infrastructure, these have predominantly been in the area of high value cross-border payments. No known initiatives have attempted to address the retail payment space. It is here that interoperable, efficient, safe, sound and cost effective payment processing is very important and much needed. At the same time numerous entities have set up operations to support remittance flows but these are mostly based on a closed loop approach which prevents wide distribution and choice of provider in most cases.
