Business and Technology Reporter in Nairobi, Kenya
Nation Media Group
East Africa’s costly cross-border transaction costs could benefit from mass uptake of payment solutions available, experts say, offering hope on a longstanding barrier to trade and remittances in the region.
The World Bank estimates that sending money from one digital wallet to another across borders can cost up to 35 percent in East Africa, one of the highest costs globally, due to insufficient payment rail infrastructure, and low margins.
