In general, the financial systems in Africa are limited (both in capacity and size) and not fully regional integrated, this cause high transactions cost and elevated levels of risk
A right financial infrastructure (legal framework, payment systems, credit registries...) can contribute to boost the intra-African trade and the economic growth;
One of the pillars of the African financial system is the Cross-border banking;
The four largest Banks in Africa are the ECOBANK (Togo),
United Bank for Africa (Nigeria),
Standard Bank Group (South Africa) and BMCE BANK Group (Morocco);
M-PESA is a money transfer system launched by Vodafone; PESA means MONEY in Swahili
In Africa, M-PESA is operative in Kenya, Tanzania, South Africa, the DR Congo, Mozambique, Egypt and Lesotho.
The JSE (Johannesburg Stock Exchange) represents 65 percent of the total market capitalization in Africa;