Africa’s Next Big Fix Is How Money Moves

When a major international concert comes to Kigali, the performance on stage is only one part of the operation. Behind the music are local businesses supplying equipment, catering for crews, providing transport, managing security and building the production infrastructure that makes the event possible. Hundreds of people may contribute to a single show, creating work and commercial opportunities that extend beyond the entertainment industry.

But once the event is over, another part of the business begins: getting everyone paid. For suppliers and contractors working with international organisers, receiving payments across borders can involve currency conversions, banking intermediaries, transaction fees and delays. These processes can affect how quickly businesses pay their own workers, settle invoices and reinvest in their operations. As Africa’s creative economy grows, the systems moving money between businesses and across borders will become increasingly important.

The challenge reaches far beyond the entertainment industry. African businesses trading across national borders often operate within different currencies, banking systems and regulatory environments. A company in Rwanda working with a supplier in South Africa, for example, may face a different set of payment requirements from one operating entirely within its domestic market. The cost and complexity of moving money can become an additional barrier for smaller businesses that have fewer resources to absorb delays and transaction charges.

The World Bank’s Remittance Prices Worldwide report recorded an average cost of 8.46% for sending money to Sub-Saharan Africa in the third quarter of 2025. Remittances are not the same as commercial payments between businesses, but the figure offers an indication of the wider cost challenges associated with moving money across borders. For businesses operating on narrow margins, additional charges can affect how much of an agreed payment ultimately reaches its destination.

There has been considerable progress in expanding access to digital financial services. Mobile money has changed how millions of people and businesses across the continent send, receive and manage funds. According to the GSMA’s State of the Industry Report on Mobile Money 2026, mobile money services processed more than US$2 trillion globally in 2025, with Sub-Saharan Africa continuing to account for a significant share of the sector’s activity. The growth shows how digital payment systems have become part of everyday economic life, particularly in markets where access to traditional banking remains uneven.

Regional initiatives are also working to make cross-border transactions easier. The Pan-African Payment and Settlement System (PAPSS), developed by Afreximbank in collaboration with the African Union Commission and the AfCFTA Secretariat, enables payments between participating African countries in local currencies. Its model is designed to reduce the need to route transactions through international currencies and financial intermediaries, helping businesses settle payments within the continent.

Another development attracting attention is the use of stablecoins. These are digital assets designed to maintain a relatively stable value by being linked to an underlying asset, commonly a national currency. Circle’s USDC, for instance, is designed to maintain a one-to-one value with the US dollar. Unlike cryptocurrencies such as Bitcoin, whose prices can fluctuate sharply, stablecoins aim to offer more predictable value when transferring or holding digital funds.

Their growing use forms part of a wider shift in the region’s digital financial activity. Chainalysis estimated that Sub-Saharan Africa received more than US$205 billion in on-chain cryptocurrency value between July 2024 and June 2025, representing growth of approximately 52% from the previous year. The figure includes different forms of cryptocurrency activity and should not be read as stablecoin payments alone. However, it points to increasing engagement with digital assets across the region, even as questions around regulation, consumer protection and accessibility remain.

It is against this backdrop that Global Citizen and Circle Internet Group announced a multi-year partnership on 10 November 2026, bringing digital financial innovation into the organisation’s Move Afrika initiative. The partnership will begin in Rwanda, where participating vendors are expected to have the option of receiving payments in USDC from 2027. The digital dollar will be offered as an additional payment option, rather than a replacement for existing payment methods.

Move Afrika was announced by Global Citizen and creative imprint pgLang on 3 November 2023, with the ambition of establishing a pan-African touring circuit that could create sustained opportunities in the continent’s creative industries. Its first event took place on 6 December 2023 at Kigali’s BK Arena, headlined by Kendrick Lamar. The initiative expanded to Lagos in February 2025, with John Legend performing in Kigali on 21 February and Lagos on 25 February. In March 2026, the tour returned to Kigali on 17 March before making its South African stop in Pretoria on 20 March, with Doja Cat headlining both events.

Since its launch, Move Afrika has generated more than 3,000 job opportunities across Kigali, Lagos and Pretoria, according to Global Citizen. The organisation also reports that local participation in crew and production roles at its Kigali events increased from 75% in 2023 to nearly 100% in 2026. These figures reflect the initiative’s wider ambition to build local capacity and ensure that international touring creates opportunities for people and businesses in the cities hosting the events.

For Circle, the partnership provides an opportunity to introduce USDC into an existing network of local suppliers, vendors and creative professionals. The company will also support practical financial education and technical training through the Move Afrika Production Alliance, helping participating businesses understand how digital payments work and how to use them securely. Circle’s involvement will extend beyond vendor payments, with both organisations exploring ways to use digital financial tools to support charitable funding and civic participation.

“Global Citizen brings people together around real change, and Move Afrika is a great example of that mission in action,” said Circle Chief Executive Jeremy Allaire. “We’re excited to help the local businesses and vendors behind these concerts reach the global economy more easily and eager to explore how digital dollars can get funding to great charitable organizations faster, and make it easier for people to take part in the causes they care about.”

Global Citizen’s co-founder and Chief Executive Hugh Evans said the partnership was intended to extend the economic opportunities created by the concerts beyond the events themselves.

“Behind every Move Afrika concert are hundreds of people and businesses making it happen. We want to ensure the opportunities created by these events extend well beyond the stage,” 

The proposed rollout will offer an opportunity to examine whether digital dollar payments can make a practical difference for participating businesses. However, the benefits will depend on how easily vendors can access and convert USDC into local currency, the fees involved, the availability of reliable digital infrastructure and the safeguards in place to protect users. Digital payments also operate within different regulatory environments across African markets, making local compliance and consumer education essential to their adoption.

Africa has made significant progress in building digital payment systems, from mobile money networks to regional settlement infrastructure. The next challenge is ensuring that these systems work together in ways that make it easier for businesses to trade, receive payments and participate in the wider economy. Move Afrika offers one setting in which that ambition can be tested. Its longer-term significance will depend on whether the financial opportunities created around the concerts continue to benefit the local businesses and people who make them possible.

The post Africa’s Next Big Fix Is How Money Moves appeared first on Time Africa.