What question did this study set out to answer?

The aim is to identify challenges faced in cross-border payments across Africa and explore emerging models.

March 13, 2026Iconic Research and Engineering Journals

Cross-Border Payments in Africa: Challenges and Emerging Models

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This research examines challenges in cross-border payments in Africa, suggesting hybrid models to optimize transactions.

The aim is to identify challenges faced in cross-border payments across Africa and explore emerging models.
Analyzed cross-border payment challenges across 54 African countries
Compared Flutterwave Send and Kredete platforms
Evaluated the Pan-African Payment and Settlement System (PAPSS)
Conducted expert interviews on infrastructure and investment capacity
Average transaction costs in Africa remain 2.5 times above G20 targets
Identified four core barriers to efficient payments including regulatory fragmentation and intermediation costs
Annual remittances in Africa reach $54 billion, with fees up to 12.7% in some corridors
Suggested hybrid solutions incorporating PAPSS, stablecoin, and API aggregation for efficiency

Precious I Ogar (2026) studied this question.

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