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Maseru
May 23, 2024
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CROSS-BORDER EFT PAYMENTS RESTRICTED

Maseru, May. 05– The Common Monetary Area (CMA) Cross-Border Oversight Committee has made a decision to stop the current cross-border Electronic Funds Transfer (EFT) credit interim solutions for CMA countries. 

The CMA countries include Lesotho, Eswatini, Namibia and South Africa and these are scheduled to go on until September. 

As per the statement by the Bankers Association of Lesotho (BAL), the changes are going to impact debit orders and payments, adding that effective from September 16, all CMA participants will not allow any aeft processing in their domestic systems…

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