Deadline: 09-Dec-2016 at 11:59:59 PM (Eastern Time – Washington D.C.)
Cross-border payments in East Africa comprise a significant and growing part of regional GDP. Agriculture related cross-border transactions alone surpass 60 million transactions and USD 900 million in the region annually. USAID estimates that 95% these transactions are made through the physical exchange of cash. The total size of the informal payments sector in the region remains unknown. However, the types of solutions available for cross-border transactions are becoming more varied. Person to Person (P2P) remittances through digital financial services already account for USD 1.3 billion per year within East Africa.