Experts Push for Interlinked Payments to Boost Africa’s Cross‑Border Trade and Remittances
African instant payment systems supporting cross‑border transactions grew from six in 2024 to eleven in 2025 (SIIPS Report 2025).
In Brief
- •African instant payment systems supporting cross‑border transactions grew from six in 2024 to eleven in 2025 (SIIPS Report 2025).
- •There are 36 live instant payment systems operating in 31 African countries (SIIPS 2025).
- •Linking these systems could cut costs, speed transfers, and support the African Continental Free Trade Area (AfCFTA).
- •Fragmented infrastructure, regulatory inconsistencies, currency conversion costs, and settlement challenges still hinder seamless cross‑border payments.
Why It Matters
Linking instant payment systems across Africa would create a more efficient, low‑cost network for businesses, investors, and families, directly supporting the AfCFTA’s goal of a single continental market. Faster, cheaper cross‑border payments can boost trade volumes, increase investment flows, and improve the timeliness and affordability of remittances, thereby strengthening economic integration and financial inclusion on the continent.
Key Details
- Cross‑border instant payment systems (2024)
- 6
- Cross‑border instant payment systems (2025)
- 11
- Live instant payment systems
- 36
- Countries with live systems
- 31
- Report source
- SIIPS Report 2025
- Event location
- Nairobi, Kenya
Context & Background
The African Union’s African Continental Free Trade Area (AfCFTA) seeks to deepen economic integration by creating a single market for goods and services, and its digital trade framework promotes interoperable payment systems and harmonised rules to facilitate cross‑border digital commerce.
Original Reporting & Sources
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