However, the adoption of innovative payment technologies is expected to address these challenges and enhance the efficiency of cross-border trade.
The report, titled “The State of Cross-Border B2B Payments in Africa and its Impact on Trade,” is the third in Duplo’s annual series of business-to-business payment reports.
It noted that traditional banking channels still dominate large-value formal cross-border B2B payments, despite high transaction fees and lengthy processing times.
However, it added that new payment technologies were emerging, offering faster, cheaper, and more secure transactions.
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