Digital financial technologies could play a decisive role in reducing the cost of doing business across Africa and unlocking the continent’s untapped trade potential, according to the Minister of Trade and Industry Prudence Sebahizi.

"Africa is undergoing a profound economic and digital transformation, and digital finance is beginning to solve one of the biggest problems that has historically limited Africa’s economic potential - the high cost and complexity of moving money across borders,” the minister remarked at the opening of the Inclusive FinTech Forum (IFF) 2026 on Tuesday, March 10.

Sebahizi observed that innovations in cross-border payments and digital finance must now move beyond technological promise and focus on making African trade faster, cheaper, and more inclusive.

ALSO READ: FinTech leaders gather in Kigali for IFF 2026

Intra-African trade currently accounts for less than 20 per cent of total trade, far below Europe where trade within the region exceeds 60 per cent.

ALSO READ: Is Rwanda ready to become Africa’s FinTech center of gravity?

According to the Minister, fragmented regulations, limited trade finance, and expensive cross-border payments remain among the key barriers preventing businesses from trading more easily across African markets.

The African Development Bank estimates that Africa faces an $81 billion trade finance gap, a challenge that disproportionately affects small and medium-sized enterprises trying to expand across borders.

"Cross-border payments within Africa cost between eight and ten percent per transaction, among the highest rates in the world. Digital financial systems are emerging as a key solution to reduce costs and speed up transactions across the continent,” he said.

He cited platforms such as the Pan-African Payment and Settlement System (PAPSS) as an example of how technology can ease transactions across African markets.

ALSO READ: Golf meets fintech as 164 players join Equity Bank tourney ahead of Kigali forum

"None of this works without trust. Trust, in the context of trade and digital infrastructure, means regulatory predictability and security. Protecting financial systems from cyber threats will be essential as digital transactions increase.”

The minister also called for stronger coordination across African countries to reduce regulatory fragmentation.

"Africa’s fintech ecosystem is vibrant and growing, but it is still fragmented. We are talking about more than 50 countries, over 40 central banks, and dozens of overlapping regulatory frameworks,” he said.

He pointed to the African Continental Free Trade Area (AfCFTA) digital trade protocol as an important step toward creating a more integrated financial ecosystem.

"The protocol must translate from text into operational reality,” he said. "We owe it to the hundreds of millions of Africans who remain financially excluded, to the small businesses facing payment frictions every day, and to the next generation that will inherit the institutions we build today."

IFF is a three-day forum that brings together leaders from across Africa’s financial technology ecosystem under the theme ‘Shaping the Future of Inclusive Finance: Innovation. Impact. Connection.