KIGALI, RWANDA — Over 3,000 global financial leaders, investors, and policymakers convened in Kigali today for the opening of the third edition of the Inclusive FinTech Forum (IFF). With a sharp focus on leveraging digital technology, delegates are looking to unlock Africa’s untapped trade potential and drastically lower the continent’s sky-high cross-border payment costs.
Running from March 10 to 12, the forum has established itself as a premier global platform for advancing financial inclusion through technological innovation and policy collaboration.
The Burden of Cross-Border Costs
Speaking at the opening ceremony on Tuesday, Minister of Trade and Industry Prudence Sebahizi highlighted that digital finance is stepping up to solve a historical barrier to Africa’s economic growth: the sheer complexity and expense of moving money across borders.
“Africa is undergoing a profound economic and digital transformation,” Sebahizi remarked. He stressed that innovations in cross-border payments must move beyond just “technological promise” and focus on making African trade faster, cheaper, and more inclusive.
Currently, intra-African trade accounts for less than 20% of total trade—a stark contrast to Europe, where regional trade exceeds 60%. Minister Sebahizi pointed out that fragmented regulations, limited trade finance, and expensive cross-border payments are the primary culprits holding back business expansion.
“Cross-border payments within Africa cost between eight and ten percent per transaction, among the highest rates in the world. Digital financial systems are emerging as a key solution to reduce costs and speed up transactions across the continent.” > — Prudence Sebahizi, Minister of Trade and Industry
Bridging the $81 Billion Trade Gap
The hurdles of traditional finance disproportionately affect small and medium-sized enterprises (SMEs) trying to expand their footprint. Citing data from the African Development Bank, Sebahizi noted that Africa currently faces an $81 billion trade finance gap.
To combat this, the Minister pointed to emerging technological frameworks like the Pan-African Payment and Settlement System (PAPSS) as prime examples of how digital solutions can streamline transactions and ease the financial burden on businesses operating across African markets.
Shaping the Future of Inclusive Finance
Throughout the three-day event, a mix of central bankers, regulators, venture investors, startup founders, and technology leaders will engage in high-level dialogues to explore strategic opportunities for the continent. The goal is to ensure that innovation is deployed responsibly to expand access to affordable, resilient financial services.
Event Fast Facts: IFF 2026
- Dates: March 10 – 12, 2026
- Location: Kigali, Rwanda
- Theme: “Shaping the Future of Inclusive Finance: Innovation. Impact. Connection.”
- Organizers: Kigali International Financial Centre (KIFC), Elevandi (Singapore), and the National Bank of Rwanda (NBR).
- Expected Attendance: 3,000+ global delegates.
