Policymakers are stepping up efforts to integrate digital payment systems across the continent as governments and financial institutions look to reduce the cost and time required to move money between countries.
- •Experiments with cross-border settlement technologies are underway, including trials led by South Africa with regional partners, as regulators explore ways to modernise payment infrastructure and support growing intra-African trade.
- •African ecosystems are fragmented across more than 50 countries and over 40 central banks, each operating under different regulatory frameworks.
- •According to Rwanda’s Trade and Industry Minister Prudence Sebahizi, the African Continental Free Trade Area (AfCFTA) Digital Trade Protocol will be critical in harmonising digital commerce rules and enabling integrated payment systems across the continent.
“Our fintech ecosystem is vibrant, but it is still highly fragmented,” Sebahizi said at the ongoing 2026 Inclusive Fintech Forum in Kigali, “Moving money from one African country to another should not be harder than moving it across continents.”
Digital payment systems are increasingly seen as critical to unlocking trade on a continent where businesses often face high transaction costs and long settlement times when transferring funds across borders.
Policymakers increasingly see regulatory alignment as key to improving payment interoperability. However, the rapid expansion of digital finance also presents new challenges.
“None of this works without trust,” Sebahizi said. “Trust means regulatory predictability, secure digital systems and the resilience of our financial infrastructure.”
Regional Efforts Gather Momentum
Regional blocs in Eastern Africa are also pushing for greater interoperability in payment systems.
Last year, the East African Community and the Intergovernmental Authority on Development, in partnership with the World Bank, convened policymakers and central banks in Addis Ababa to advance regional payment integration.
The workshop brought together officials from nine countries to explore harmonised regulatory and technical frameworks for cross-border payments, amid concerns that fragmented payment systems continue to constrain trade.
“Digital transformation is no longer a choice but a necessity,” said Mohyeldeen Eltohami. “Together, IGAD and EAC can build a digitally integrated Eastern Africa, where borders no longer limit opportunity.”
Payment interoperability is central to the region’s digital market ambitions, according to Daniel Murenzi, Principal Information Technology Officer, EAC Secretariat.
“Payment systems are an enabler in this digital ecosystem for the region, with their interoperability a critical factor,” Murenzi said, noting that governments must harmonise legal frameworks and technical standards.
The effort forms part of the East Africa Regional Digital Integration Project, which seeks to strengthen cross-border digital infrastructure, services and regulatory coordination among member states.
