US EditionWhy Africa can’t trade freely until payments are borderless
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Why Africa can’t trade freely until payments are borderless
Despite decades of trade blocs and policy frameworks, intra-Africa trade still accounts for a reported 18% of total trade, compared to 59% in Asia and 68% in Europe. One major reason is the result of moving money across borders which remains costly and fragmented. But that’s starting to change thanks to regional innovations like the Transactions Cleared on an Immediate Basis (TCIB) scheme. This entails a low-cost, real-time cross-border payments…
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