Industry leaders and policymakers at the recent 3i Africa Summit in Accra called for stronger collaboration and regulatory coordination to address persistent challenges in Africa’s cross-border payments ecosystem.
Speaking during discussions on remittances, virtual assets, and digital finance, Emmanuel B. said Africa has made significant progress over the past decade in areas such as instant payments, mobile money, and digital financial infrastructure, but major gaps remain in cross-border transactions.
According to him, Africans continue to face some of the highest transaction fees globally for cross-border payments, a challenge he said requires more than simply increasing the number of fintech applications operating on the continent.
He emphasized the need for durable infrastructure, interoperability between payment systems, mutual recognition of Know Your Customer (KYC) processes, harmonised invoicing standards, unified regulatory sandboxes, and real-time settlement systems capable of connecting fragmented financial corridors across African markets.
The fintech executive also highlighted Ghana’s recently announced digital trade corridor initiative involving Rwanda and Zambia, describing it as a major step toward deeper financial integration on the continent.
Fincra, where Emmanuel serves as Chief Commercial Officer, said it is positioning itself to support the growth of an integrated African payments ecosystem driven by collaboration between regulators, financial institutions, and technology providers.
The summit brought together stakeholders from central banks, payment companies, fintech firms, and regulatory agencies to discuss the future of digital finance, virtual assets, artificial intelligence, and cross-border trade infrastructure in Africa.
Participants at the event stressed that achieving seamless continental payments and capital movement would require coordinated regulatory frameworks and stronger regional partnerships capable of supporting Africa’s rapidly evolving digital economy.