Fragmented regulations, weak payment infrastructure and limited interoperability are increasing the cost of doing business across Africa, with micro, small and medium-sized enterprises facing the biggest burden as countries push to deepen regional trade under the African Continental Free Trade Area (AfCFTA).
At the Biashara Afrika 2026 conference, policymakers, financial institutions and business representatives called for faster implementation of interoperable cross-border payment systems to support intra-African commerce and reduce barriers facing traders.
A plenary session titled “Powering the One African Market through Interoperable and Seamless Cross-Border Payments,” moderated by Nalongo L. Nshuti Mbabazi, brought together representatives from the AfCFTA Secretariat, banks and MSME groups to discuss practical solutions to payment bottlenecks affecting businesses across the continent.
Participants said inconsistent regulations, high transaction costs and limited connectivity between national payment systems continue to constrain trade, particularly for women-led businesses, youth entrepreneurs and small-scale cross-border traders.
“The technology for instant cross-border payments is already there,” said Isaac Kamuta, Group Head of Cash Management and Payments at Ecobank.
Speakers at the forum said the next challenge is policy coordination, including harmonizing regulations, improving financial infrastructure and expanding access to digital payment systems across African markets.
The discussions also highlighted the role of the AfCFTA Protocol on Digital Trade in creating a legal framework for integrated payment systems aimed at supporting the continent’s goal of building a single African market.
The push for seamless payment systems comes as African governments and financial institutions seek to increase intra-continental trade, which remains significantly below levels seen in Europe and Asia due in part to payment frictions, currency conversion costs and border-related inefficiencies.
Delegates at the forum noted broader adoption of interoperable payment systems could help lower transaction costs, speed up settlement times and improve market access for smaller businesses that have historically been excluded from formal regional trade networks.
