The Bank of the Republic of Burundi (BRB) is accelerating efforts to integrate the nation’s banking sector into regional payment systems, hosting technical training for local financial institutions on connecting to Common Market for Eastern and Southern Africa’s (COMESA) payment infrastructure.
The training focused on linking domestic banks, the National Post Office, the central bank to COMESA’s Regional Payment and Settlement System and the Digital Regional Payment Platform.
The initiative aims to address long-standing friction in cross-border trade. By moving away from traditional correspondent banking networks, which often require routing funds through third-party international intermediaries, the integrated systems allow importers and exporters to execute cross-border settlements faster, at lower costs, and with reduced foreign exchange risk.
The move complements Burundi’s domestic financial modernisation, following the launch of its national instant payment system, BurundiPay. Connecting local institutions directly to COMESA’s digital payment architecture provides Burundian businesses with direct, low-cost access to commercial markets across the 21-member trading bloc.
–ChannelAfrica/BRB–
