“From Fragmentation to Integration: Reimagining Trade and Payments in Africa”

Panel discussion – MCB Trade Week 2025 

Another panel discussion of the MCB Trade Week 2025 brought together banking executives, trade finance experts, and corporate leaders to address the complexities and opportunities shaping Africa’s cross-border payments and trade environment. Covering everything from financial inclusion and digital currencies to corporate treasury demands and trade finance innovation, the discussion underscored the urgency of rethinking Africa’s role in the evolving global trade system.

Global payment systems are undergoing rapid change, and Africa faces unique challenges and opportunities. During the second panel of MCB Trade Week 2025, industry leaders explored how financial behaviour, innovation, geopolitical realignments, and client expectations are converging to reshape the continent’s trade and transaction landscape.

Moderated by Joanne Louise, Team Leader – Global Transaction Banking at MCB, the panel featured Sean Edwards, Chairman of the International Trade Forfaiting Association (ITFA); May Wafa, Head of Sub-Saharan Africa at JP Morgan; Vincent Cambier, Group Treasury Manager at Eclosia; and Arnaud Levasseur, Executive Vice President – Global Trade Solutions at MCB.

Behaviour-Driven Change and Digital Acceleration

According to May Wafa, changes in payment ecosystems are largely driven by evolving human behaviour and technology adoption. “Every major shift in the payments landscape is ultimately a response to human behaviour. The push toward contactless and cashless transactions during COVID-19 is one example. But it also comes from technological gaps, where mobile service providers outpace traditional banks,” she explained.

Mobile banking, she noted, is now a primary financial access point across Africa, particularly for underserved and remote communities. “Mobile models have emerged as powerful tools for financial inclusion. Today, many more people have access to mobile loans than to traditional bank accounts,” May Wafa added.

She also highlighted a growing shift in trade currency preferences: “We’re seeing more clients push for settlements in currencies like AED or CNY. Access to hard currency has become difficult, so businesses are adapting where possible.”

“Every major shift in the payments landscape is ultimately a response to human behaviour”

Corporate Treasury: Evolving Expectations and Infrastructure Needs

Vincent Cambier outlined how African corporates are seeking more integrated, real-time solutions to match the pace of trade. “Africa’s payment ecosystem is evolving rapidly, thanks to mobile money, digital banking, and real-time platforms. Governments and banks are recognising that payments are the backbone of intra-African trade,” he explained.

Treasury functions, he said, are now operating in a 24/7 world. Corporates need banks that can offer seamless connectivity. “We expect banks to provide real-time cross-border solutions, and to integrate into our ecosystems via APIs. Treasury operations need to be automated, secure, and immediate,” he added.

Vincent Cambier also pointed out the need for better foreign exchange (FX) risk management: “Managing FX risk across fragmented markets remains a major challenge. Banks that offer flexible hedging and multi-currency liquidity tools will be valued partners.”

He acknowledged the role of collaborative innovation with banks like MCB: “Our journey with MCB and the CBA community has been critical. We’ve co-developed tools like IP Flow and host-to-host integration, which have improved operational efficiency.”

Trade Finance in the Digital Age

Sean Edwards brought a macro-level view, addressing the structural challenges in financing African trade. “Only 3% of Africa’s trade is intra-continental. That’s far too low. But we’re seeing new momentum. Digitisation is no longer a distant goal, it’s within reach,” he stated.

He described the vision for tokenised trade assets – digital systems where trade documentation, validation, and payments are seamlessly connected. “It’s achievable. All the pieces exist: tokenised documentation, real-time settlement, and digital custodianship. The dream is to have these systems working as one,” he added.

Sean Edwards also introduced the concept of central bank digital currencies (CBDCs) as a game-changing innovation: “CBDCs enable instant settlement. In Europe, we can send euros within seconds, even across borders. Africa doesn’t need a single currency; it needs interoperable solutions.”

On trade finance instruments, he added that “digital promissory notes, bills of exchange, and receivables finance are tools we can leverage to attract non-bank investors and boost liquidity in the trade ecosystem.”

Client-Led Innovation and Practical Engagement

Arnaud Levasseur emphasised that real innovation begins with listening to client needs and translating them into solutions. “It starts with going to the client, understanding their system, and co-developing solutions. That’s how we build platforms that respond to real business problems, not theoretical ones,” he said.

He noted that solutions like reverse factoring and embedded ESG criteria in trade finance emerged from client feedback. “Clients pushed us to rethink how we support them. They wanted digital, efficient, and sustainable tools. That’s where the real transformation begins,” he explained. 

Arnaud Levasseur also spoke about MCB’s ongoing efforts to increase client awareness of regulatory frameworks: “Understanding the regulatory landscape isn’t theoretical, it’s about sitting with clients, talking through the issues, and developing tailored responses. That’s how we build relevance.”

Reimagining Africa’s Trade Future

The panel concluded with a shared recognition that Africa must move from fragmented trade models to integrated, scalable frameworks. Collaboration between banks, fintechs, corporates, and regulators will be crucial.

As Joanne Louise summarised: “We are all committed to shaping a stronger business landscape for payments and trade. Growth is here, and with the right partnerships, we can support a full and inclusive recovery across Africa.”