Implementing Cross-border Payment, Clearing and Settlement Systems: Lessons from the Southern African Development Community

Abstract

This paper investigated the experience in implementing cross-border payment, clearing and settlement systems in the Southern African Development Community (SADC). Such systems are critical in the circulation of money and the general economic activities in the region. In line with the SADC Protocol on Finance and Investment, central banks in the region are to co-operate in order to define and implement a cross-border payment strategy.  Regional blocks that are in the process of implementing regional integration projects can learn from the implementation process in the SADC region.

Keywords: Southern African Development Community, Cross-border, Payment Systems, Success Factors, Challenges