Africa is entering a new era of economic transformation, driven by new technologies. These digital tools are real drivers of competitiveness for African companies and SMEs, and are also paving the way for increased intra-African trade, a central pillar of the AfCFTA. The African Development Bank estimates that from 2030 onwards, the adoption of digital technologies could generate up to $300 billion in additional GDP by 2030.
In Africa, digital transformation has become a key pillar of development strategies. According to Afreximbank, new technologies could increase the productivity of African businesses by 30 to 50% by 2030. Digitalisation, e-commerce, artificial intelligence and blockchain are boosting the competitiveness of SMEs and facilitating their access to regional markets. To support this transformation, the pan-African payment system PAPSS already enables transactions in local currency between African countries, limiting conversion losses estimated at $5 billion per year.
The heads of states called for the establishment of a Pan African Payment system. This was over sixty years ago. We are only just doing so now. What else do you expect from them as foresight?
GEORGE ELOMBI, President, Afreximbank – Cameroon
The potential of digital technology in intra-African trade is immense. Today, these exchanges account for less than 15% of the continent’s total trade. But with better technological integration, this figure could exceed 30% by 2030. Platforms such as Afrikrea, Wasoko and Flutterwave illustrate this dynamic. According to the African Development Bank, the adoption of digital technology could generate up to $300 billion in additional GDP in Africa within five years.
The payment system in modern times involves tremendous innovation. The technology platform you build for that, the software applications you have to use for that. But incidentally, you also need the participation of the states to accept to join that payment system.
GEORGE ELOMBI, President, Afreximbank – Cameroon
To structure this transition, Afreximbank, in partnership with the National Bank of Rwanda, is organising the 2025 Compliance Forum in Kigali from 12 to 14 November. This strategic meeting aims to harmonise regulatory frameworks, strengthen digital trust and accelerate the continent’s economic integration. Africa is banking on technology to build a stronger, more agile and more connected common market.
