In Africa, around 25% of payments are completed within one hour, with a further 52% credited within 24 hours – Swift report

Africa is already one of the most dynamic regions for digital and mobile‑enabled financial services, driven by a young and increasingly connected population. Growth is strong and intra‑regional trade is expanding, with financial institutions becoming more deeply embedded in global markets. Yet alongside this momentum, a more complex picture is emerging. 

Swift’s latest white paper, Insights into the African Payments Landscape, is based on transaction data from 2021 to 2025. It offers a detailed view of where Africa stands today, and what needs to happen to unlock the next phase of growth.

Payments moving across the Swift network are already fast. Around 75% of payments reach their destination bank within 10 minutes, and Africa performs in line with the global average. Yet this ‘in‑flight’ speed does not reflect the full customer experience.

End‑to‑end performance tells a different story. In Africa, around 25% of payments are completed within one hour, with a further 52% credited within 24 hours. The gap sits in the beneficiary leg, where manual processing, regulatory controls and limited operating hours continue to affect timelines. 

Progress on transparency follows a similar pattern. Around 75% of payments meet the Universal Confirmations Service Level Agreement payment tracking rules, while 71% are confirmed as credited to the final beneficiary, compared with a higher global average. The challenge is not capability, but consistency. Incomplete data transmission and manual updates still limit end‑to‑end visibility.

Payment flows in Africa

Swift data points to a deeper shift in how payments move across the continent:

. Intra African flows are expanding, growing at close to 10% annually, reflecting stronger regional trade and closer economic ties

. Payments received into Africa now exceed those sent, signaling rising foreign investment and deeper integration into global value chains

. Europe remains the largest partner, accounting for 43% of inbound payments and 32% of outbound flows

. Intra African payments now represent 35% of outbound transactions, making them the largest outbound corridor

. The US dollar remains dominant, accounting for almost half of intra African payments, with regional currencies playing a growing role in some markets

More details: Insights into the African Payments Landscape