Digitising Africa’s customs, borders could net US$20bn a year

One of the key takeaways from the 54th session of the Conference of Ministers (CoM2022) in Senegal under the theme “Financing Africa’s Recovery: Breaking New Ground”.

For the African payments economy, the substitute is clear: cash. It’s long existed and even thrived amongst the very market segment needed to fuel disruption says Amaka Yvonne Onyemenam, a Consultant at Africa Practice, focusing on technology policy and the digital economy.

Afreximbank announces operational roll out of Pan-African Payment and Settlement System (PAPSS).

Cyber crime is a barrier to Africa’s thriving digital economy, according to economists, technology professionals.

Solutions provider MoData says between 2016 and 2019, Africa’s agtech sector grew by 44% year-on-year.

Private equity investor Convergence Partners closes third fund of US$120m.

Insiders predict intra-African trade could rise 20% to 30% within the next five years with the use of digitisation and blockchain.

Developments such as AfCFTA reinforce the urgent need for governments to digitise says Ryno Rijnsburger, Chief Technology Officer, Microsoft 4Afrika.

The digital yuan could serve as a valuable intermediary currency says Fintech and China expert Richard Turrin.

East African Community initiative established to eliminate high roaming costs.

Key takeaway from the recently concluded 2020 AU e-commerce conference.