CBC-Sobek Alliance targets affordable digital payments for small businesses

The COMESA Business Council (CBC) has entered into a strategic partnership with Sobek Group to accelerate digital financial inclusion and boost regional trade for Africa’s micro, small and medium enterprises (MSMEs).

The partnership, formalised through a Memorandum of Understanding (MoU), will enhance the eMalyami digital ecosystem — an integrated platform comprising more than 14 interoperable modules.

According to a statement issued on Sunday, the suite includes an e-wallet, agent networks, a virtual marketplace for goods and services, Siba cooperatives, and a merchant retail management system, among other tools designed to streamline business operations.

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CBC Chief Executive Officer, Teddy Soobramanien, said the platform was expected to empower small businesses, business associations and gig workers to trade seamlessly across COMESA markets.

“Reducing transaction costs remains critical to accelerating the adoption of digital systems. Affordable channels are particularly important for MSMEs, which operate on narrow margins and rely on efficient systems to sustain their daily operations,” he said.

Nezar Eldidy of Sobek Group described the eMalyami business suite as a key instrument for advancing financial inclusion.

He said the initiative aimed to integrate underserved communities and informal market participants into the formal economy.

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

The initiative is also expected to help entrepreneurs formalise their businesses, access finance, facilitate shipments and expand beyond national borders.

The Common Market for Eastern and Southern Africa Business Council is the recognised private sector institution of COMESA, advocating for business interests across the region’s 21 member states.

Beyond advocacy, CBC promotes active private sector participation in regional integration, investment and global trade.

Through strengthening business linkages, identifying market opportunities, forging strategic alliances and engaging in policy advocacy, the Council supports enterprise growth and economic development across the COMESA region.

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