Africa’s fast-growing borderless economy is revealing gaps in the continent’s financial systems, as payment platforms, banking structures, and regulatory frameworks struggle to keep up with the increasing flow of money, goods, services, and people across borders. This was highlighted by fintech expert Benjamin Dada, founder of Condia.
Dada previously served as Nigeria’s country manager for Stitch, a South African payments company, and worked as a business product manager at Moniepoint, where he helped develop the cross-border product, MonieWorld.
In response to these developments, the fintech media company will host The Borderless Experience, a one-day conference scheduled for August 21, 2026, at the Landmark Event Centre in Lagos. The event will bring together banks, fintech firms, regulators, airlines, travel operators, merchants, and investors to explore what is required to build a truly connected African economy.
With Africhange as the headline sponsor, the conference is expected to attract about 500 senior decision-makers from sectors including banking, payments, commerce, policy, travel, compliance, and financial technology. Discussions will focus on both the opportunities and the challenges shaping Africa’s increasingly interconnected economy.
Unlike traditional technology events that focus broadly on innovation, organisers say this conference will centre on the practical aspects of enabling cross-border trade. Topics will include payment systems, banking partnerships, logistics, regulation, foreign exchange, cybersecurity, and digital identity.
Speaking at a virtual press conference ahead of the event, Dada, who is also the convener, noted that African consumers are becoming borderless at a pace much faster than the infrastructure supporting them.
He explained that people are now paying for international services, merchants are sourcing goods from different countries, creators are earning from global audiences, and travellers are spending across multiple currencies. However, the systems supporting these activities have not evolved at the same speed.
While the African Continental Free Trade Area (AfCFTA) has created new momentum for regional trade, Dada pointed out that limitations in financial infrastructure, regulatory fragmentation, and settlement systems continue to hinder business expansion across the continent.
He stated that the goal of the conference is to bring together stakeholders—including banks, fintech companies, regulators, travel firms, merchants, policymakers, and infrastructure providers—to engage in practical discussions on how to move the industry forward.
The event comes at a time when cross-border payments are among the fastest-growing areas in Africa’s fintech sector. The market is estimated to be worth about $329 billion and is growing at an annual rate of approximately 12 percent, driven by digital commerce, mobile money adoption, and regional trade initiatives.
Dada also observed that many Nigerian fintech companies that initially focused on local transactions are now expanding into international payments, as both businesses and consumers increasingly operate beyond national borders.
He noted that while this trend creates new opportunities, it also raises important issues around regulation, competition, liquidity management, and financial infrastructure.
According to him, much of the public discussion on cross-border payments still relies on outdated data. For instance, the long-standing assumption that sending money into Africa costs around eight percent no longer reflects current realities, as digital financial providers have significantly reduced costs in several corridors. However, many entrepreneurs and investors still base their strategies on these outdated figures, which could lead to unsustainable business models.
Beyond payments, the conference will also examine the broader ecosystem supporting Africa’s connected economy. Discussions will cover how merchants operate across markets, how airlines and hospitality businesses serve cross-border customers, and the role of logistics.
Dada highlighted that logistics remains a major challenge, citing examples where transporting goods between African countries can be more expensive than shipping from Europe. He noted that moving goods from Kenya to Nigeria can sometimes cost more than shipping from the United Kingdom to Nigeria, pointing to structural issues that need to be addressed.
The programme will be structured around six key themes: the evolving African consumer, payments and financial infrastructure, banking, commerce and travel, policy and regulation, and cross-industry collaboration.
Organisers say the discussions will focus on three core questions: what changes are occurring in Africa’s connected economy, what infrastructure is required to support these changes, and what risks—such as fraud, cybercrime, settlement failures, exchange rate instability, and regulatory fragmentation—could hinder future growth.
The conference will feature participants such as payment infrastructure providers, banking executives, policymakers, compliance experts, cybersecurity professionals, merchants, airline and hotel operators, investors, and technology founders.
Key topics expected to dominate conversations include stablecoins, artificial intelligence, correspondent banking, foreign exchange volatility, payment settlement systems, regulatory alignment, and the future of Africa’s digital payment architecture.
Dada emphasised that payments are only one part of the broader system, explaining that what truly moves across borders are people, goods, and services, with payments serving as the enabling infrastructure.
Industry analysts believe the timing of the conference reflects a wider transformation within Africa’s digital economy. The rise of remote work, digital subscriptions, creator platforms, cross-border e-commerce, and global freelancing has increased demand for faster, more affordable, and reliable payment systems.
At the same time, AfCFTA is encouraging businesses to expand beyond domestic markets, while emerging technologies like stablecoins and artificial intelligence are reshaping how cross-border transactions are initiated, processed, and monitored.
Despite these advancements, challenges such as regulatory fragmentation, multiple currencies, limited correspondent banking networks, and foreign exchange volatility continue to limit intra-African trade, which remains lower than in regions like Europe and Asia.
Ultimately, as Africa’s digital consumers increasingly operate without borders, the success of this transformation will depend not only on improved payment systems but also on the ability of governments, financial institutions, and technology companies to build reliable and trusted infrastructure to support the continent’s next phase of economic integration.
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