By Folayan Odunaiya
Sending money across African borders remains one of the most painful financial experiences for millions. Whether you're a migrant worker, small business owner, or freelancer, two harsh realities persist:
1. Exorbitant transfer fees that consistently rank as the highest in the world.
2. Hidden currency costs that can add 20-30% to transaction values due to limited FX access.
For businesses, the pain is even worse. Importers, exporters, and freelancers lose millions in FX spreads, delays, and failed transactions simply because Africa’s financial infrastructure wasn’t built for real-time, low-cost cross-border flows.
The $500 Billion Problem: Why Africa’s Cross-Border Payments Are Broken
Africa moves staggering sums - over $94B in annual remittances (World Bank) and hundreds of billions in trade. Yet, cross-border payments remain painfully inefficient. Despite growing fintech innovation, most transactions still crawl through legacy systems (taking days when they work), costing 26% more than global averages (7.83% vs 6.2%), and sometimes getting trapped in regulatory fragmentation. The continent now faces its next great infrastructure challenge: building payment rails worthy of its economic ambition.
The Turning Point: Africa Isn’t Waiting for Solutions - It’s Building Them
Just as Africa leapfrogged landlines for mobile phones, it’s now bypassing outdated banking systems for digital-first solutions - stablecoins (USDT, USDC) have become lifelines for businesses hedging against currency volatility. Mobile money interoperability is expanding (though liquidity gaps persist), and real-time settlement systems like GIMAC are emerging, yet adoption remains slow.
How RTGS Global Is Bridging the Gap
At RTGS Global, we’re tackling these challenges head-on by connecting banks, MTOs, and FX providers on a single network enabling:
• Instant cross-border settlements (even on weekends & holidays).
• Transparent FX rates - No more hidden markups.
• Seamless API integration for banks, PSPs, and fintechs.
We have built a cross-border payment network that enables rapid inter-connectivity and cost-effective transfers between financial institutions, providing worldwide coverage through a single API integration.
We’re not just building technology, we’re partnering with central banks (like BEAC), MTOs, and commercial banks all over the globe to ensure liquidity, compliance, and real-world usability.
The Future: A Frictionless Africa
Cross-border payments in Africa are projected to grow to $300B-$500B annually but without the right infrastructure, millions will keep overpaying, waiting, and losing money to inefficiency. This is precisely why emerging markets represent RTGS.global’s greatest opportunity - where our network delivers immediate value by transforming financial fragmentation into seamless connectivity.
In Africa, the solution isn’t just faster tech; it’s a connected financial ecosystem where money moves as freely as people and trade do. At RTGS Global, we’re making that happen - one instant settlement at a time.
Sending money across African borders remains one of the most painful financial experiences for millions. Whether you're a migrant worker, small business owner, or freelancer, two harsh realities persist:
1. Exorbitant transfer fees that consistently rank as the highest in the world.
2. Hidden currency costs that can add 20-30% to transaction values due to limited FX access.
For businesses, the pain is even worse. Importers, exporters, and freelancers lose millions in FX spreads, delays, and failed transactions simply because Africa’s financial infrastructure wasn’t built for real-time, low-cost cross-border flows.
The $500 Billion Problem: Why Africa’s Cross-Border Payments Are Broken
Africa moves staggering sums - over $94B in annual remittances (World Bank) and hundreds of billions in trade. Yet, cross-border payments remain painfully inefficient. Despite growing fintech innovation, most transactions still crawl through legacy systems (taking days when they work), costing 26% more than global averages (7.83% vs 6.2%), and sometimes getting trapped in regulatory fragmentation. The continent now faces its next great infrastructure challenge: building payment rails worthy of its economic ambition.
The Turning Point: Africa Isn’t Waiting for Solutions - It’s Building Them
Just as Africa leapfrogged landlines for mobile phones, it’s now bypassing outdated banking systems for digital-first solutions - stablecoins (USDT, USDC) have become lifelines for businesses hedging against currency volatility. Mobile money interoperability is expanding (though liquidity gaps persist), and real-time settlement systems like GIMAC are emerging, yet adoption remains slow.
How RTGS Global Is Bridging the Gap
At RTGS Global, we’re tackling these challenges head-on by connecting banks, MTOs, and FX providers on a single network enabling:
• Instant cross-border settlements (even on weekends & holidays).
• Transparent FX rates - No more hidden markups.
• Seamless API integration for banks, PSPs, and fintechs.
We have built a cross-border payment network that enables rapid inter-connectivity and cost-effective transfers between financial institutions, providing worldwide coverage through a single API integration.
We’re not just building technology, we’re partnering with central banks (like BEAC), MTOs, and commercial banks all over the globe to ensure liquidity, compliance, and real-world usability.
The Future: A Frictionless Africa
Cross-border payments in Africa are projected to grow to $300B-$500B annually but without the right infrastructure, millions will keep overpaying, waiting, and losing money to inefficiency. This is precisely why emerging markets represent RTGS.global’s greatest opportunity - where our network delivers immediate value by transforming financial fragmentation into seamless connectivity.
In Africa, the solution isn’t just faster tech; it’s a connected financial ecosystem where money moves as freely as people and trade do. At RTGS Global, we’re making that happen - one instant settlement at a time.
