CBS hosts SADC CCBG Payment System Subcommittee and Payment System Oversight Committee meetings |05 August 2025
CBS hosts SADC CCBG Payment System Subcommittee and Payment System Oversight Committee meetings
The Central Bank of Seychelles (CBS) hosted back-to-back meetings of the Southern African Development Community (SADC) Committee of Central Bank Governors (CCBG) Payment System Subcommittee (PSS) and the Payment System Oversight Committee (PSOC), on July 30 and 31, 2025 at the Savoy Resort and Spa.
The meetings brought together central bank representatives and payment systems experts from 15 SADC member states, as well as international stakeholders, notably the International Monetary Fund (IMF) and the World Bank. The aim of the meetings was to assess ongoing developments and discuss strategic actions aimed at fostering financial integrity, enhancing financial inclusion and strengthening cross-border payment systems in the region.
In her opening remarks, CBS Governor Caroline Abel emphasised the significant advancements that have transformed the Seychelles payment landscape in recent years.
Governor Abel stressed the critical importance of collaboration to achieving a seamless, secure and efficient regional payment ecosystem.
Deliberations during the meetings focused on key areas such as the progress of the SADC RealTime Gross Settlement System (SADC-RTGS) which enables cross-border transactions; within the region initiatives to enhance financial system integrity and efficiency of the onboarding and verification processes; across member states the expansion of existing financial inclusion frameworks to include cost, speed and accessibility; and fostering innovation in financial services in collaboration with partners such as AfricaNenda and FinMark Trust.
The PSS and PSOC meetings which are held biannually, serves as an important platform for fostering collaboration, knowledge sharing and aligning the regional strategies among SADC member states and their partners. While Seychelles has actively participated in past sessions, the hosting of this year’s event was particularly significant as it marked the first time in nearly a decade that the country hosted the Subcommittee meetings. By successfully bringing together key stakeholders and facilitating constructive dialogue, CBS continues to position itself as an active and capable partner in driving regional financial integration and cooperation.
Text & photo: Contributed