July 23, 2026 by Collins Nweze | Assistant Business Editor
Borderless economy opens cross-border payment infrastructure gaps
Africa’s push towards a borderless economy is exposing critical weaknesses in the continent’s financial infrastructure, with payment systems, banking networks, and regulatory frameworks struggling to keep pace with rising cross-border trade, travel and digital commerce.
Benjamin Dada, fintech expert and founder of Condia, said growing demand for cross-border transactions is placing unprecedented pressure on Africa’s fragmented payment ecosystem just as regional integration accelerates under the African Continental Free Trade Area (AfCFTA).
Dada, a former Nigeria country manager at South African payments company Stitch and former business product manager at Moniepoint, where he helped build the firm’s cross-border product, MonieWorld, said the industry needs greater collaboration to address longstanding structural barriers.
To help drive that conversation, Condia will host The Borderless Experience, a one-day conference scheduled for August 21, 2026, at the Landmark Event Centre in Lagos.
The event, with Africhange as headline sponsor, is expected to bring together about 500 senior executives from banks, fintech firms, regulators, airlines, travel companies, merchants, investors and policymakers to examine what Africa must do to build a truly connected economy.
According to Dada, while AfCFTA has created fresh momentum for regional trade and investment, fragmented financial infrastructure, inconsistent regulations and inefficient settlement systems continue to slow business expansion across the continent.
“Our goal is to bring together the people building the systems behind Africa’s connected economy—including banks, fintechs, regulators, travel companies, merchants, policymakers and infrastructure providers—to have practical conversations about what is required to move the industry forward,” Dada said.
The conference comes at a time when cross-border payments are emerging as one of the fastest-growing segments of Africa’s fintech industry. Dada estimates the continent’s cross-border payments market at about $329 billion, expanding at roughly 12 percent annually, driven by the rapid growth of digital commerce, mobile money adoption and regional trade.
He noted that many Nigerian fintech companies that initially focused on domestic payments are now expanding into international money transfers as businesses and consumers increasingly transact beyond national borders.
“Every major fintech now wants to become a cross-border fintech. That creates opportunities, but it also raises new questions about regulation, competition, liquidity management and financial infrastructure,” he said.
Dada also argued that much of the public conversation around cross-border payments still relies on outdated assumptions.
“For years, everyone quoted that sending money into Africa costs around eight percent. The industry has changed significantly, and we need more accurate conversations based on today’s realities,” he said.
Beyond payments, the conference will examine the wider infrastructure supporting Africa’s connected economy, including trade, travel, logistics and commerce.
Participants will discuss how merchants are expanding across borders, how airlines and hospitality businesses are serving regional travellers, and why logistics remains one of the biggest obstacles to intra-African trade.
Drawing on conversations with logistics operators, Dada said moving goods between African countries often remains more expensive than shipping them from Europe.
“It can cost more to move goods from Kenya to Nigeria than from the United Kingdom to Nigeria. Those are the kinds of structural issues we want to address,” he said.
The programme is organised around six thematic tracks covering the changing African consumer, payments and financial infrastructure, banking, commerce and travel, policy and regulation, and cross-industry collaboration.
Speakers will include payment infrastructure providers, banking executives, policymakers, compliance specialists, cybersecurity experts, merchants, airlines, hotel operators, investors and technology founders.
Among the issues expected to dominate discussions are stablecoins, artificial intelligence, correspondent banking, foreign exchange volatility, payment settlement, regulatory harmonisation and the future of Africa’s digital payment architecture.
For Dada, however, payments are only part of the bigger picture.
“What actually moves across borders are people, goods and services. Payments are simply the infrastructure that enables those movements,” he said.
TAGS:
Manufacturers optimistic about Q3’ 202646 minutes ago
Dangote Refinery resumes Naira sales of PMS46 minutes ago
China inspired Nigeria’s local content policy, says Jonathan47 minutes ago
Crude tops $95 per barrel47 minutes ago
