How harmonised global standards are helping African businesses scale beyond borders

Africa is entering a new era of digital economic opportunity. The continent’s internet economy is projected to contribute nearly $180 billion to GDP this year, accounting for around 5.2% of total output, according to a study by Google and the International Finance Corporation. From fintech startups to global e-commerce ventures, African businesses are harnessing digital tools to drive innovation and economic resilience.

The path to cross-border success isn’t always smooth. Many businesses have long faced challenges navigating fragmented payment systems, differing regulatory environments, and infrastructure gaps. These issues have made it harder to expand into new markets or manage international operations smoothly.

But change is underway, and it’s happening through the power of harmonisation. Today, the adoption of global standards and interoperable payment infrastructures is unlocking new opportunities for African businesses to scale internationally. These developments are not only simplifying cross-border payments, they're enabling businesses of all sizes to scale more efficiently and securely beyond their home markets.

The impact of standardisation on global trade 

One of the most significant enablers in realising a harmonised, interconnected global economy has been the widespread adoption of common messaging formats such as ISO 20022. These standards allow banks and payment providers in different countries to communicate clearly and consistently. The result is fewer misinterpretations, reduced errors, and faster transaction processing.

For businesses, this means improved cash flow, better financial visibility, and stronger supply chain coordination. Features like real-time, end-to-end tracking - offered through solutions such as Swift GPI - enable companies to know exactly when a payment will be received. This level of predictability is crucial when managing supplier relationships, especially across borders, and empowers African businesses to strengthen their commercial relationships both within and outside the continent.

Building trust and enhancing access across global trade 

As businesses expand their customer and supplier bases beyond national borders, trust becomes a critical currency. Global standards play a key role in enhancing data transparency and reducing fraud risk - two essential factors in meeting international compliance requirements, including anti-money laundering (AML) and know your customer (KYC) regulations.

By demonstrating adherence to these standards, African businesses can more easily partner with global banks, payment providers, and e-commerce platforms. This opens doors to new funding sources, customer segments, and digital trade channels.

The benefits are not limited to large businesses, either. With common standards and interoperable infrastructures, even small and medium-sized enterprises can more easily access the global marketplace. Interoperability reduces the number of intermediaries required for a transaction, improving cost predictability and streamlining the payment experience. By aligning with interoperable payment systems, African businesses of all sizes can connect to scalable networks with worldwide reach. From selling handmade goods online to supplying international retailers, those that build their growth strategies around harmonised standards will find it easier than ever to engage in global trade.

Interoperability in action: mobile money meets global finance

Mobile money has been one of Africa’s most transformative financial innovations, bringing millions into the formal economy. In many countries, it is the primary channel through which consumers and businesses transact. Yet, limited integration between mobile money platforms and traditional banking infrastructure has long created barriers to receiving international payments.

Interoperability presents a powerful opportunity to change that. By connecting mobile wallets to broader financial ecosystems, mobile money providers can open the door to global digital payments - expanding reach, increasing convenience, and unlocking new revenue streams. This shift has the potential to be especially impactful for women-led and youth-driven businesses operating in the informal economy, helping them grow and compete on a global stage.

What’s next: a seamlessly connected continent

To fully realise this vision, continued collaboration is essential. Policymakers, regulators, financial institutions, and fintechs must work together to advance standardisation and ensure that infrastructure development keeps pace with market needs.

The goal is clear: a seamlessly connected African payments ecosystem, where businesses of all sizes - from Accra to Addis Ababa - can trade securely, efficiently, and globally. By enabling real-time, cost-effective, and transparent cross-border transactions, interoperable payment systems are levelling the playing field and redefining what's possible for African entrepreneurs.

As we look to the future, one thing is certain: harmonised standards and infrastructures aren’t just technical upgrades, they are powerful enablers of inclusive growth. And they are helping African businesses go global, one transaction at a time.