MSME training needs assessed as cross-border payments go digital

Genesis was commissioned to undertake a training needs assessment for MSMEs engaged in digital cross-border trade. The study spanned five COMESA member states (Kenya, Malawi, Rwanda, Uganda and Zambia) and was aimed at boosting the use of digital financial services for cross-border payments in the region.

The project team conducted both a desktop review and primary research. The primary research entailed a survey of 300 cross-border trade MSMEs across the five countries. It also included key informant interviews with relevant stakeholders from banks and government agencies involved in facilitating cross-border trade as well as development organisations in this space and associations of cross-border traders.

The output of the project was insight into the profiles of the traders as well as their financial and non-financial needs. The solution to driving the adoption of these digital payments is inclusive product development and innovation in cross-border payments. Also needed is some level of capacity building to emphasise the benefits of digital forms of making payments and to address perceptions against such payments.

View the full report:  Use of cross-border digital payments in COMESA region