Digital Payments Gain Ground as Over 50% of African Firms Go Cashless

More than half of African businesses have adopted digital payment systems, marking a major step toward financial inclusion and efficiency across the continent. This finding comes from the 2025 Africa CEO Trade Survey Report, published by the Pan-African Private Sector Trade and Investment Committee (PAFTRAC) in partnership with African Business.

The report, launched in Geneva during the World Trade Organization (WTO) Public Forum, surveyed over 2,000 senior executives across 51 African countries to assess how businesses are responding to shifting global and regional trade dynamics.

Digitalization emerged as a central theme, with a growing number of companies leveraging mobile money platforms, fintech innovations, and e-commerce payment systems to enhance transactions and streamline operations. The rapid rise in digital payment adoption signals a significant shift in how African businesses conduct trade, reflecting the continent’s broader move toward technology-driven growth.

However, the survey also identified persistent obstacles hindering full-scale digital transformation. These include high transaction fees, unreliable internet connectivity, and cybersecurity concerns that continue to limit access, particularly for small and medium-sized enterprises (SMEs) in less connected regions.

The report highlights that this trend toward digital finance is unfolding alongside broader efforts to strengthen regional integration through the African Continental Free Trade Area (AfCFTA) and advance sustainability goals aligned with global Environmental, Social, and Governance (ESG) standards.

As global trade faces rising uncertainty due to tariffs, shrinking aid, and geopolitical tensions, African business leaders are increasingly embracing digital tools to improve competitiveness and resilience. The growth in digital payment usage underscores the continent’s determination to modernize its trade systems and build a more connected, inclusive economy.