Building Africa's Digital Payments Infrastructure: THE PATH TO ECONOMIC GROWTH

The adoption of digital payments by businesses plays a pivotal role in transforming Africa’s economy. Cellulant is focused on empowering global and local businesses operating in Africa with the ability to accept and make payments seamlessly via its unparalleled payment network.

African businesses whether large enterprises, medium-sized enterprises or entrepreneurial micro outfits play a pivotal role in the economic growth of the continent as they account for about 80% of the continent’s employment, help close infrastructure gaps and help meet Africa’s unfulfilled demand for new goods and services.

Empowering the growth of these businesses is therefore essential for not only Africa’s economic growth but also for the global economy, as it leads to the emergence of a middle class with disposable income, opens up opportunities for new investors and spurs innovation on the continent. 

However, for too long it has been expensive and cumbersome to make and receive payments between businesses which impedes their growth and opportunities for those they serve. Yet, it is clear that there is a huge demand for and progress in better ways for people to send and receive money. Currently, Africa represents 70% of the $1 trillion global mobile money value. Furthermore, the domestic e-payment market in Africa is projected to amount to $40 billion by 2025 through a 20% annual growth rate.