Report by the Pan-African Private Sector Trade and Investment Committee (PAFTRAC) has revealed that more than half of African businesses have embraced digital payment systems, but widespread adoption continues to be hindered by high implementation costs, unreliable internet access, and mounting cybersecurity concerns.

According to the Africa CEO Trade Survey Report 2025, titled “Leveraging the AfCFTA in an Era of Global Trade Uncertainty,” 53.6 per cent of African firms now use digital payment platforms for commercial transactions.

The survey, which covered over 2,100 executives from companies operating across 51 African countries, shows that small and medium-sized enterprises (SMEs) make up the majority of respondents.

While digital payment adoption continues to rise, driven by mobile money and emerging blockchain-based solutions, many African firms are also deepening their digital transformation efforts across other business functions.

The survey indicates that 49.68 per cent of respondents operate e-commerce platforms, 40.04 per cent use Supply Chain Management (SCM) software, and 28.18 per cent rely on Customer Relationship Management (CRM) systems to enhance efficiency and customer engagement.

Despite these positive trends, PAFTRAC warned that the full potential of Africa’s digital economy remains constrained by structural and operational barriers.

Nearly half (46.15 per cent) of surveyed executives identified high technology implementation costs as a major deterrent, while 31.16 per cent cited unreliable internet connectivity.

Cybersecurity risks (30.84 per cent) and a shortage of technical expertise (30.09 per cent) were also highlighted as critical challenges stalling wider adoption.

Still, optimism remains high. Almost all respondents, nearly 100 per cent, agreed that digitisation is essential to the continent’s commercial futures.