Common Market for Eastern and Southern Africa
CMA has provided a regional Payment and Settlement System (REPSS), to the COMESA Clearing House. The REPSS system is based on CMA's RTS/X solution.
COMESA was initially established in 1981 as a Preferential Trade Area for Eastern and Southern Africa (PTA). The PTA was transferred into COMESA in 1994. Today 20 countries in East and South African regions are members of COMESA, and those are Burundi, Comoros, Democratic Republic of Congo, Djibouti, Egypt, Eritrea, Ethiopia, Kenya, Libya, Madagascar, Malawi, Mauritius, Rwanda, Seychelles, Sudan, Swaziland, Uganda, Zambia, and Zimbabwe.
The COMESA Clearing House has been mandated to implement a system to facilitate cross-border payment and settlement between Central Banks in the COMESA region. The new system provides a single gateway for Central Banks within the Region to effective payments processing and settlement of trades. It is a real-time online system with an open interface based on SWIFT standards.