CBC and Sobek Group Partner to Boost Digital Financial Inclusion for MSMEs Across COMESA

 By Daily News Reporter

COMESA Business Council (CBC) and Sobek Group Limited have signed a strategic Memorandum of Understanding (MoU) aimed at accelerating digital financial inclusion and enhancing regional trade for Africa’s Micro, Small and Medium Enterprises (MSMEs).

The partnership will strengthen the eMalyami platform, an integrated digital ecosystem comprising over fourteen interoperable modules designed to support small businesses, business groups, and gig workers across COMESA markets.

The enhanced eMalyami suite features an e-wallet, agent networks, a virtual goods and services marketplace, Siba cooperatives, a merchant retail management system, and additional financial and trade-enabling tools. The platform seeks to enable MSMEs to trade, pay, and receive payments seamlessly across borders.

Speaking during the signing ceremony, CBC Chief Executive Officer Dr. Teddy Soobramanien emphasized the importance of lowering transaction costs to drive the adoption of digital systems.

“Reducing the cost of transactions remains essential to accelerating digital payment uptake,” he said. “Affordable financial channels are especially critical for MSMEs, which operate on narrow margins and depend on efficient systems to sustain their daily operations.”

Sobek Group Limited President Dr. Nezar Eldidy highlighted the broader financial inclusion goals of the initiative, noting that the eMalyami business suite is designed to integrate underserved communities and informal market actors into the formal economy.

“The platform is a key instrument in promoting financial inclusion by providing accessible, compliant, and scalable financial solutions,” Dr. Eldidy said.

Under the agreement, CBC and Sobek Group Limited will collaborate with financial service providers, development partners, and other key stakeholders to establish affordable and compliant digital payment rails for both domestic and cross-border transactions.

The initiative is expected to help entrepreneurs formalize their businesses, improve access to finance, streamline shipment processes, and expand into regional markets within the Common Market for Eastern and Southern Africa (COMESA) region.

By leveraging digital infrastructure and interoperable systems, the partnership marks a significant step toward strengthening regional trade integration and empowering Africa’s MSMEs to compete in an increasingly digital economy.