The African Continental Free Trade Area Promise
The African Continental Free Trade Area (AfCFTA) represents one of the biggest economic opportunities of our generation. A single market of 1.4 billion people with a combined GDP of $3.4 trillion.
But there's a catch: payments.
The Cross-Border Payment Challenge
Despite the promise of free trade, moving money across African borders remains frustratingly difficult.
The Numbers Tell the Story:
- Average cost to send money within Africa: 8-9%
- Average processing time: 2-5 days
- Percentage of intra-African trade: Only 15% of total African trade
Compare this to intra-European trade (60%) or intra-Asian trade (58%), and the gap becomes clear.
Why Business Payments Are Different
Business-to-business payments have unique requirements:
Volume
Businesses make frequent, often large transactions.
Documentation
Invoices, contracts, and compliance documents need to accompany payments.
Currency Management
Dealing with multiple African currencies adds complexity.
Cash Flow
Payment delays can cripple operations.
Modern Solutions for African Business
Multi-Currency Accounts
Hold balances in multiple currencies to:
- Pay suppliers in their preferred currency
- Avoid repeated conversion fees
- Time conversions for favorable rates
API Integration
Connect payment systems directly to your business software:
- Automated invoice payments
- Real-time payment tracking
- Streamlined reconciliation
Batch Payments
Pay multiple suppliers or employees in one transaction:
- Reduced fees per payment
- Simplified administration
- Better cash flow management
Industry-Specific Considerations
E-Commerce
- Accept payments from customers across Africa
- Handle returns and refunds efficiently
- Manage multi-currency pricing
Import/Export
- Pay international suppliers quickly
- Receive payments from buyers across the continent
- Document transactions for customs
Professional Services
- Bill clients in their local currency
- Receive payments without losing to fees
- Scale across borders easily
The Dayfi Business Solution
We're building payment infrastructure for African businesses:
Developer-Friendly API
Integrate payments into your existing systems with our well-documented API.
Competitive B2B Rates
Volume-based pricing that improves as you grow.
Compliance Built-In
KYC and transaction monitoring that keeps you compliant.
Dedicated Support
Real humans who understand African business.
The Path Forward
The AfCFTA promises to add $450 billion to Africa's economy by 2035. But realizing this potential requires payment infrastructure that matches the ambition.
African businesses deserve payment solutions built for how they actually work—not legacy systems designed for other markets.
Ready to scale your business across Africa? Contact our team to learn about Dayfi for Business.
