DAR ES SALAAM, April 1 -- The Deputy Governor of the Bank of Tanzania (BoT), Sauda Msemo, has called for the accelerated adoption of digital payment systems in cross-border trade, emphasizing that such a shift is critical to improving efficiency, reducing transaction costs, and advancing financial inclusion both nationally and within the East African Community (EAC).

Speaking at the opening of a National Dialogue on Enabling Digital Payments for Cross-Border Traders held in Dar es Salaam, Msemo noted that despite significant progress in expanding digital financial services, a substantial share of cross-border trade transactions continues to rely on cash.

She explained that this dependence on cash creates structural inefficiencies, inclu...