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Information Communication Technologies (lCT), Postal and Courier Services has joined forces with Smart Africa to launch the Institutional Support for Digital Payments and E-commerce Policies for Cross Border Trade (IDECT) initiative today at POTRAZ HQ.
The IDECT initiative aims to empower government and institutions to develop robust, interoperable digital payment solutions and supportive e-commerce policies and this move is expected to drive economic growth, promote financial inclusion, and empower small and medium enterprises (SMEs), particularly those led by women and youth.
Speaking during the launch Permanent Secretary for lCT ministry Beaullah Chirume said,”Zimbabwe has made significant strides in digital payments, with mobile money transactions reaching approximately $15 billion in 2023. However, the country still faces challenges, including a shortage of skilled personnel, inadequate regulatory frameworks, and infrastructural limitations.
To address these challenges, the IDECT initiative will focus on three key areas:
– *Foundations*: Improving financial literacy, resource capacity, and physical infrastructure to support digital payment adoption.
– *Adoption*: Enhancing market readiness, driving innovation, and promoting the use of digital payment methods for international transactions.
– *Enabling Environment*: Developing comprehensive policies for cross-border digital payments, promoting ethics and inclusivity, and strengthening governance structures.
She emphasized the need for collaboration across all sectors to ensure the success of the IDECT initiative. “By working together, public institutions, private organizations, and regulatory bodies can identify gaps in digital payment systems and develop strategies that promote adoption, innovation, and inclusivity.”
This initiative is part of Smart Africa’s broader goal to create an integrated digital economy that connects individuals, businesses, and governments across Africa. With Zimbabwe at the forefront of this initiative, the country is poised to become a leader in digital payment systems and e-commerce policies in the region.
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