Africa is showing stronger signs of expanding economic activity as rising savings, electronic payments and cross-border transactions point to growing participation by households and businesses in the formal economy.
Latest figures from Standard Bank, parent company of Stanbic Bank Ghana, show that customer deposits across its African operations increased by 12% to R2.5 trillion ($153.5 billion) while domestic electronic payment values rose by 11% and cross-border payment values grew by 7%.
The trends are providing fresh indications of increasing commercial activity across African markets, with businesses transacting more frequently, consumers participating more actively in formal financial systems and trade corridors becoming more connected.
Standard Bank, which serves 19.5 million active clients across 21 African countries, said the developments could create larger pools of capital to finance businesses and productive investments as economic integration deepens.
Lungisa Fuzile, Chief Executive for Africa Regions at Standard Bank, said the growth in savings, business transactions and cross-border trade was strengthening the foundations for long-term economic expansion.
“As more people participate in the formal financial system, as businesses trade across borders and as savings pools deepen, the foundations for sustainable growth become stronger,” he said.
The expansion of payment flows is particularly significant for regional trade as the African Continental Free Trade Area (AfCFTA) seeks to reduce barriers to commerce and create a larger integrated market for African businesses.
Standard Bank recorded an 11% increase in domestic electronic payment values and a 7% rise in cross-border payment values. The bank currently has a 19% share of cross-border payments across its African markets.
According to Fuzile, the increase in payment activity provides a practical indication of growing trade and commercial links between African economies.
“Every payment reflects a transaction. Every transaction reflects business activity. And every new trade corridor creates opportunities for growth, investment and job creation,” he said.
Rising Savings Create Larger Pool Of Domestic Capital
The increase in deposits is also emerging as an important source of financing for economic development.
Standard Bank said deposits of R2.5 trillion ($153.5 billion) grew faster than its loan book, which expanded by 7%. The development could provide financial institutions with larger pools of domestic capital that can potentially be channelled into businesses, infrastructure and other productive sectors.
Fuzile said increasing savings by households and businesses could strengthen the capacity of African economies to finance their own growth.
“When households save, when entrepreneurs build businesses and when companies invest for growth, they create the foundations for stronger economies,” he said.
The trend comes at a time when African economies require significant investment in infrastructure, energy, housing, transport, agriculture and digital connectivity to support expanding populations and urban centres.
Infrastructure Investment Remains Critical
Standard Bank said it had mobilised R328 billion in sustainable finance since 2022, including R50.6 billion in the first six months of 2026.
The financing has supported projects in renewable energy, water, agriculture, transport and economic inclusion.
Such investment is expected to help address infrastructure constraints that have historically increased the cost of doing business and limited the ability of companies to expand across markets.
For businesses, improved transport networks, reliable energy, digital infrastructure and access to finance could lower transaction costs while making it easier to reach consumers and suppliers in other African countries.
Fuzile said Africa’s next phase of economic growth would depend on stronger infrastructure combined with broader participation in formal economic activity.
He identified trade, housing, energy, logistics, digital connectivity and entrepreneurship as areas where significant unmet demand remains.
The combination of deeper financial participation, expanding regional trade and infrastructure investment could therefore create new opportunities for businesses seeking to scale beyond their domestic markets as African economies become increasingly interconnected.
