The Central Bank of Seychelles hosted back-to-back meetings of the Southern African Development Community (SADC) Committee of Central Bank Governors Payment System Subcommittee and the Payment System Oversight Committee, bringing together central bank representatives and payment systems experts from 15 SADC member states alongside the International Monetary Fund and the World Bank. Discussions focused on assessing ongoing developments and agreeing strategic actions to strengthen cross-border payment systems, support financial integrity and advance financial inclusion across the region. Deliberations covered progress on the SADC Real-Time Gross Settlement System (SADC-RTGS) for cross-border transactions, initiatives to enhance financial system integrity including more efficient onboarding and verification processes, and the expansion of financial inclusion frameworks to incorporate cost, speed and accessibility. The agenda also included collaboration on financial services innovation with partners such as AfricaNenda and FinMark Trust, and the central bank noted that the biannual meetings were hosted in Seychelles for the first time in nearly a decade.
Central Bank of Seychelles 2025-08-04
Central Bank of Seychelles hosts SADC payment system committees to review SADC-RTGS progress and regional oversight priorities
The Central Bank of Seychelles hosted meetings of the SADC Payment System Subcommittee and Oversight Committee, with participation from 15 SADC member states, the IMF, and the World Bank. Discussions focused on strengthening cross-border payment systems, enhancing financial integrity, and advancing financial inclusion. Key topics included the SADC Real-Time Gross Settlement System, onboarding and verification processes, and collaboration on financial services innovation.