Digital payments to power Africa’s $1 trillion cross-border market by 2035, Oui Capital says
- Africa's cross-border payments market is projected to reach $1 trillion by 2035, up from $329 billion in 2025.
- Remittance inflows in Africa hit nearly $100 billion in 2023, accounting for 5.2% of the continent's GDP.
- 75% of remittance flows in Sub-Saharan Africa were informal in 2022, highlighting the need for more accessible payment systems.
The rapid growth of Africa's cross-border payments market presents a significant opportunity for fintech companies to innovate and provide cost-effective solutions. However, traditional banks must adapt to the changing landscape or risk losing market share to more agile digital platforms. Addressing the inefficiencies in legacy systems will be crucial for fostering economic growth and enhancing financial inclusion across the continent.
