Nigeria, July 28 -- Cross-border payments in Africa remain among the most expensive in the world, despite the rapid growth of instant payment systems across the continent.

Sending $200 to another African country can cost as much as 7.9 per cent, more than double the United Nations Sustainable Development Goal target of three per cent. This comes even as Africa's cross-border payments market, valued at $329 billion in 2025, is projected to reach $1 trillion by 2035.

Experts say fragmented regulations, inconsistent policies and heavy reliance on the US dollar continue to hinder efforts to create cheaper and more efficient payment systems across Africa.

"Retail digital cross-border payments are essential for Africa's economic future becau...