Facilitating seamless cross-border payments and settlements among COMESA Member States through a multilateral netting system built on open standards.
$500M+
Transaction Volume
T+0/T+1
Settlement Speed
21
Member Countries
9
Active Participants
About REPSS
The Regional Payments and Settlement System (REPSS) is a Multilateral Netting System with End-of-Day settlement designed to reduce costs of regional transactions in a liberalised foreign exchange regime.
REPSS facilitates payment for goods and services as well as funds transfer across borders, providing a better alternative to the current payment process by offering a more cost-effective platform that is secured, fast and predictable.
Multicurrency Settlement
Settlement in USD and Euro with provisions for Yen, Pound, Swiss Franc, Indian Rupee and Chinese Yuan.
Central Bank Backed
The COMESA Clearing House (CCH) acts as agent of Central Banks.
T+0 Settlement
Transactions are settled on T+0 basis (or T+1 in some cases).
Bank of Mauritius
Settlement Bank for REPSS transactions.
How REPSS Works
REPSS operates through a streamlined process that ensures efficient and secure cross-border transactions.
1
Trade Transaction Initiation
Importer requests its local bank to effect payment through REPSS.
2
Multilateral Netting
Local bank sends payment to local Central Bank, optimizing liquidity.
3
Settlement Processing
Payment instruction is sent to COMESA Clearing House by Central Bank.
4
Continuous Reporting
Settlement exchanges between Bank of Mauritius and CCH, with notification to all parties.
REPSS Process Model
Benefits of REPSS
Same day settlements. Reduced costs. Guaranteed payments.
Predictable Payment Timing
Reduced payment cycle time as compared to other international payment alternatives.
Cost Effective
REPSS payments translate into savings for originators, reducing foreign correspondent banking charges significantly.
Settlement Finality
All payments are guaranteed as instructions, once cleared are final and irrevocable.
Established Systems
Payments are made through established and reliable systems backed by Central Banks.
Minimal System Changes
Payments originate and are received in the formats of existing payment systems requiring minimal modifications.
One Easy Process
Provides one simple process for making cross-border payments across the COMESA region
REPSS serves both Member and non-Member States of COMESA, providing comprehensive payment infrastructure.
Current Member States Live on REPSS
DRC
Egypt
eSWATINI
Kenya
mALAWI
Mauritius
uGANDA
zAMBIA
zIMBABWE
Join REPSS
Interested in connecting your institution to REPSS? Contact us to learn more about participation requirements and integration processes.
