Duplo Unveils 2024 B2B Payments Report on Cross-Border Trade in Africa

Duplo has launched the third edition of its B2B payments report, titled The State of Cross-Border B2B Payments in Africa and its Impact on Trade. This latest edition builds on insights from previous years, offering a deeper look into intra- and extra-African payment trends and their influence on trade across the continent.

Key highlights from the report include the $193 billion valuation of intra-African trade in 2022, accounting for 13.8% of the continent’s total trade. Notably, 40% of cross-border trade payments between East and West African nations are made in cash, and less than half of Africa’s 32 instant payment systems are interoperable. Despite these figures, Africa’s share of global trade value has remained stagnant at 3%.

The report offers crucial insights on the role of regional economic communities, the impact of global technological advancements, and future trends in African cross-border B2B payments. It also explores initiatives like the African Continental Free Trade Area (AfCFTA) and their role in transforming the continent’s payment landscape.