DAR ES SALAAM, April 1 -- THE Bank of Tanzania (BoT) in collaboration with the United Nations Development Programme (UNDP) has intensified efforts to promote digital payment systems among cross-border merchants, aiming to reduce reliance on cash transactions in the region.

The initiative is part of a broader effort to strengthen digital transaction for micro, small and medium enterprises (MSMEs) engaged in cross-border trade within the East African Community (EAC) by addressing structural bottlenecks and improving the efficiency across borders.

BoT Deputy Governor (Financial Stability and Deepening) Ms Sauda Msemo said yesterday in a high-level national dialogue on responsible cross-border digital merchants payments that the move comes ...