The Digital Revolution: Enhancing Cross-Border Payments in Africa – Panel at Africa Tech Summit Nairobi 2025 featuring insights and views from Eric Wainaina – General Manager, Africa at Conduit, Yemi Lawani – Director of Business Development at Circle, Iheakachi Nwabueze – Head of Global Marketing and Growth at Grey, Dr. Collins Igwe – CFO at Budpay and moderated by Paschal Okeke – Head of Operations & Expansion at CrissCross.
Panelists discuss the current state of cross-border payments on the continent, the technological advancements in financial services powered by blockchain and digital currencies and highlight the anticipated growth of the African payment market, projected to reach $40 billion with 70% being digital.
The session touches on key challenges in the industry, including high transaction costs, regulatory fragmentation, compliance complexities, inefficient banking infrastructures and differing regulatory frameworks across countries present additional hurdles for cross-border transactions.
Highlights include:
💰 Projected Growth of Payments: African payments expected to reach $40 billion this year, with 70% being digital.
🏦 High Transaction Costs: Cross-border payments incur costs between 3% and 8% due to inefficiencies in the banking system.
⚖️ Regulatory Hurdles: Regulatory fragmentation complicates compliance and increases operational costs, making cross-border transactions more expensive.
🌐 Technological Innovations: Emerging technologies like blockchain and stable coins have the potential to revolutionize payments by reducing costs and improving efficiency.
📚 Financial Literacy: Financial education is crucial for consumer adoption and trust in digital payment solutions across the continent.
🤝 Collaboration is Key: Panelists emphasized the need for industry collaboration to tackle shared challenges and enhance payment infrastructures.
⏳ Future Expectations: A unified payment infrastructure, similar to the EU’s SEPA, is a long-term goal but will require significant time and investment.
Africa Money & DeFi Summit West Africa – September 24th & 25th, 2025 | Accra, Ghana
Africa Money & DeFi Summit returns to Accra to unite Africa’s most influential fintech, Web3, and crypto leaders with global stakeholders driving the future of finance.
Join 500+ delegates for two action-packed days of insights, innovation, and high-level networking. The summit brings together decision-makers from across DeFi, payments, ReFi, digital lending, FX, identity, insurtech, cybersecurity, mobile money, crypto, Web3, and beyond.
Connect with leading start-ups, scale-ups, investors, regulators, and industry heavyweights as we explore the next wave of financial innovation transforming the continent.
Whether you’re seeking deal flow, market intelligence, partnerships, or exposure, Africa Money & DeFi Summit West Africa is the definitive platform for driving business and investment in African fintech.
