Apr 09 2025
Africa’s financial systems are undergoing a radical transformation. For years, traditional banking infrastructure couldn’t meet the needs of millions. Limited access to banking, a lack of credit histories, and barriers to financial identity meant many were excluded from the global economy. But today, that’s changing.
With mobile money, digital currencies, and real-time payments, Africa is fast becoming a leader in financial innovation.
These technologies are offering solutions to problems that once seemed insurmountable—empowering individuals and businesses to participate in the economy like never before.
Digital currencies are gaining traction across the continent. In countries like Nigeria, Kenya, and South Africa, central bank digital currencies (CBDCs) are seen as a way to bypass the limitations of traditional banking and offer more secure, efficient, and inclusive financial services. By reducing cross-border transaction costs and offering greater stability in volatile markets, digital currencies are helping shape the future of Africa’s economy. Source – IMF: "The Rise of Central Bank Digital Currencies in Africa"
At the same time, mobile wallets have significantly expanded financial access across the continent. Today, over 781 million people in Africa manage their finances without needing a traditional bank account—sending money, covering daily expenses, and running businesses directly from their mobile phones. Source – GSMA State of the Industry Report on Mobile Money 2023
Mobile money has provided millions with access to financial tools that were once out of reach, changing how people engage with money and unlocking new possibilities—especially for small businesses and remote communities.
In 2022 alone, $836 billion moved through mobile money platforms, reflecting both the scale and impact of these services across Africa. Source – GSMA
Real-time payments are also reshaping how money moves across the continent. In countries like Kenya and Nigeria, these systems are enabling faster, more predictable transactions. For businesses, this means improved cash flow, better operational efficiency, and fewer delays—key advantages in an increasingly competitive and interconnected economy. Source – AfricaNenda: 2023 State of Instant Payments in Africa
Africa continues to innovate around its unique financial challenges. The continent is shaping a new financial blueprint—one that’s faster, more flexible, and better aligned with local realities.
At IPT Africa, we are proud to be part of this evolution. Our role is to bridge the gap between traditional finance and tomorrow’s technologies—helping businesses benefit from the best of both worlds. Whether it’s integrating real-time payments, exploring digital currency readiness, or supporting wallet-based transactions, we’re here to move money across Africa, simply and securely.