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# [COMOROS] Komor Pay, Komor Switch, Mali Ya Wakazi: Central Bank Launches Four Reforms After Record 3.8% Growth
- URL: https://businessoi.media/en/comores-komor-pay-komor-switch-mali-ya-wakazi-la-bcc-lance-quatre-reformes-apres-une-croissance-record-de-3-8-en/
- Published: 2026-10-10T02:48:47.000Z
- Updated: 2026-10-10T02:48:47.000Z
- Description: The Central Bank of the Comoros is deploying Komor Pay, Komor Switch and the Mali Ya Wakazi network to modernise a banking sector whose balance sheet jumped 14% to 262 billion francs at end-2025.
- Author: Emmanuel TAOCHY
- Tags: Comores, Économie, finance, Revue matinale, #en

**The Comoros posted their strongest economic performance since the Covid-19 crisis in 2025, with GDP growth of 3.8%**, up from 3.3% in 2024\. Inflation meanwhile fell from 5.1% to 3.3%. Buoyed by these results, the government and the Central Bank of the Comoros (BCC) are accelerating their financial modernisation programme.

## Four tools to reduce cash dependency

In 2026, the BCC is rolling out four initiatives designed to transform how money flows through the archipelago. **Komor Pay**, the mobile payment wallet, will allow individuals to transact directly from their phones, bypassing bank branches. **Komor Switch** will ensure interoperability between financial institutions, ending the silos that currently fragment the system. A centralised **payment hub** will process flows between banks, mobile operators and merchants. Finally, the **Mali Ya Wakazi** agent network — literally "people's money" — will extend financial access to the most remote communities across Grande Comore, Anjouan and Mohéli.

## A growing banking sector

The consolidated balance sheet of Comorian banks reached **262.3 billion Comorian francs at end-2025, up 14%** year-on-year. Credit to the economy grew 8% to 145.8 billion. Two additional mechanisms will ease financing for local SMEs: leasing and the Comorian Guarantee Society, whose parameters will be redefined this year.

## Why it matters

Long cut off from regional financial circuits, the Comoros have one of the lowest banking penetration rates in the Indian Ocean. By combining technical modernisation with economic growth, the BCC aims to break this cycle — so that the recovery can finally benefit the households and entrepreneurs it has so far excluded.

*Sources: Financial Afrik (31 August 2026), Comores Infos, BCC Annual Report 2025.*