At the Africa Blockchain Festival 2026 in Nairobi, Passpoint chief executive Kelechi Uchegbulam warned that African businesses still encounter fragmented payment systems, multiple intermediaries and foreign‑exchange constraints when paying suppliers in other countries.

He highlighted that while Nigeria’s real‑time payment system (NIP) and Kenya’s mobile‑money ecosystem have transformed domestic transactions, these infrastructures are not yet linked for seamless cross‑border flows.

Uchegbulam explained that a typical cross‑border payment may involve several payment networks, currency conversion steps and compliance checks, making the process more complex and less predictable than domestic transfers.

He linked these frictions to the African Continental Free Trade Area’s ambition, noting that without reliable financial infrastructure, firms cannot fully exploit new market opportunities.

Payment delays, according to Uchegbulam, tie up working capital for exporters, erode margins for small businesses through inefficient currency conversion, and disrupt production schedules for manufacturers.

He advocated for interoperability over building new rails, urging that existing banks, payment switches, mobile‑money services and emerging digital‑asset networks be orchestrated to handle routing, conversion and compliance centrally.

Uchegbulam cautioned that blockchain‑based stablecoins are not a panacea; while they can record transactions quickly, they still depend on liquidity, conversion mechanisms and regulatory clearance to deliver funds to local accounts.

He concluded that connecting Africa’s existing payment rails, supported by coordinated regulatory dialogue, is essential for the continent’s next trade challenge of enabling regional and global commerce.