Headline Moonshot 2026: Smoother Payments and Rules Could Unlock More Trade Across Africa

Moonshot 2026: Easier Payments and Rules Could Unlock More Trade Across Africa

Speakers at Moonshot 2026 in Lagos have called for smoother regulations and more seamless cross-border payment systems to help African businesses trade more easily across the continent.

The message came as technology founders, investors, policymakers and business leaders gathered at the National Theatre for the two-day Moonshot conference on October 28 and 29. The event, organised by TechCabal, focused on the future of African technology and business, including commerce, regulation and payments.

The bigger idea: making Africa easier to trade in

The central argument from speakers was straightforward: Africa cannot fully benefit from its huge potential market if businesses still struggle to move money, goods and services from one country to another.

According to Africanews, intra-African trade accounts for less than 17% of the continent's total trade, compared with more than 60% in Europe. The African Continental Free Trade Area (AfCFTA) could create a market worth about $3.4 trillion, but regulatory barriers, fragmented financial systems and expensive cross-border payments continue to hold businesses back.

Adetola Onayemi, Chairman of Norebase, pointed to the difference between having trade agreements on paper and making them work in everyday business. Problems at borders, ports and banks can still make it difficult for companies to enter new African markets.

His proposed solutions include standardised business documents and connected digital payment systems that can reduce the cost and complexity of doing business across borders.

Why payments matter to startups

For a startup, expanding from Nigeria into Ghana, Kenya or another African market should not mean spending excessive time figuring out how to receive money, pay suppliers or convert currencies.

Consider a small Nigerian fashion business that wants to sell clothes to customers in Ghana. If receiving payment requires multiple currency conversions, high fees or several financial intermediaries, the business may have to increase its prices or abandon the market altogether.

Cross-border payment companies are already working on this problem. At Moonshot, Grey CEO Idorenyin Obong argued that African businesses should be able to make transactions directly between local currencies instead of routing every transaction through the US dollar. Direct currency conversion could reduce unnecessary steps, costs and delays.

For startups operating on tight margins, even small reductions in transaction costs can make a significant difference.

Rules can be just as important as technology

Better payment infrastructure alone will not solve Africa's trade problems. Businesses also need regulations that are clear, consistent and easier to navigate.

A company selling products across several African countries may have to deal with different registration requirements, tax systems, documentation and financial regulations. If those rules are difficult to understand or change frequently, expanding into another country becomes expensive and risky.

Simplifying and harmonising these requirements could allow startups to spend less money dealing with bureaucracy and more time developing products, hiring workers and reaching customers.

What easier trade could mean for small businesses

For Africa's small businesses, smoother trade could have very practical consequences.

A food producer in Nigeria could find it easier to sell to customers in neighbouring countries. A software company could serve clients across Africa without struggling with complicated payment arrangements. A fashion brand could accept payments from customers abroad more easily, while a small retailer could pay an African supplier without relying on several expensive intermediaries.

It could also create more opportunities for entrepreneurs outside the continent's biggest commercial centres. Easier cross-border trade means a small business does not necessarily have to become a large multinational before it can find customers in other African markets.

Turning AfCFTA from an agreement into everyday business

The discussions at Moonshot 2026 highlight a broader challenge for Africa's economic ambitions. The continent has created the framework for a single market through AfCFTA, but businesses still need practical systems that make cross-border commerce feel as straightforward as possible.

That means connecting payment systems, reducing unnecessary regulatory differences, standardising documentation and addressing the costs involved in moving money between African countries.

For startups and small businesses, the goal is simple: make it easier to sell, get paid, buy from suppliers and expand across Africa.

If those barriers can be reduced, Africa's large consumer market could become more accessible not just to major corporations, but also to the entrepreneurs and small businesses that make up much of the continent's economy.