AfricaNenda underscores urgency of regulatory alignment to drive cross-border payments in Africa

By:  Nana Appiah Acquaye

AfricaNenda has underscored the growing momentum behind Africa’s cross-border payments agenda, with stakeholders calling for faster action to enable seamless financial transactions across the continent.

Speaking during a high-level dialogue convened alongside the World Bank Group–IMF Spring Meetings, Deputy CEO of AfricaNenda, Sabine F. Mensah, emphasized that while significant progress has been made in developing domestic instant payment systems, regulatory harmonization remains the critical enabler for scaling cross-border interoperability.

The session, organized in collaboration with the African Union’s Economic Development, Trade, Tourism, Industry, and Minerals (ETTIM) division, brought together central bank governors, development partners, and industry leaders to assess pathways toward a unified payments ecosystem.

Participants highlighted the increasing urgency among policymakers to accelerate implementation efforts, noting that existing national systems provide a strong foundation for regional integration. Central bank representatives from Eswatini and Liberia shared practical insights and lessons from their respective digital payments journeys, reinforcing the importance of leadership and coordinated policy frameworks.

The discussions also reflected a broader consensus that Africa is approaching a pivotal moment in its digital financial transformation, with infrastructure and institutional frameworks steadily taking shape.

AfricaNenda reaffirmed its commitment to supporting countries and partners in scaling inclusive instant payment systems, positioning seamless cross-border payments as a key driver of financial inclusion, trade, and economic growth across the continent.