Rising savings, increasing cross-border payment activity and growing participation in formal financial systems are emerging as some of the clearest indicators yet of substantial pent-up demand for economic activity across the continent.
The latest numbers from Standard Bank, the parent company of Stanbic Bank Ghana, show a buildup of deposits by 12% to R2.5 trillion, while the value of domestic electronic payments grew by 11% and cross-border payment values increased by 7%. Serving 19.5 million active clients across 21 African countries, the bank says these trends point to a continent where households are saving more, businesses are transacting more and trade corridors are becoming increasingly active.
As the African Continental Free Trade Area (AfCFTA) gathers momentum and digital connectivity continues to expand, payment flows and savings behaviour are increasingly reflecting the emergence of deeper and more integrated African economies.
Lungisa Fuzile, Standard Bank Chief Executive for Africa Regions says: "What we are seeing across many markets is clear evidence of economic momentum. As more people participate in the formal financial system, as businesses trade across borders and as savings pools deepen, the foundations for sustainable growth become stronger. These are indicators of expanding economic activity and increasing confidence in Africa's future. Our footprint spans markets that collectively account for more than 2/3 of Africa’s GDP, giving us a unique view of changing economic patterns across the continent. From growing domestic consumption and business formation to expanding trade and investment flows, the signals point to increasing economic participation and confidence.”
Rapid population growth and urbanisation, significant infrastructure investment requirements, increasing trade and capital flows, and the ongoing evolution of the continent's financial services landscape points to a continent that is one of the fastest-growing major regions in the world.
The value of domestic electronic payments processed through Standard Bank increased by 11%, while cross-border payment values rose by 7%, reflecting growing commercial activity both within countries and across borders. The bank currently maintains a 19% market share of cross-border payments across its African markets, providing a unique window into the movement of goods, services and capital across the continent.
The African Continental Free Trade Area is often discussed in policy terms, but its impact is increasingly visible in commercial activity. Every payment reflects a transaction. Every transaction reflects business activity. And every new trade corridor creates opportunities for growth, investment and job creation. The steady rise in payment flows suggests economic integration is gradually becoming a lived reality for African businesses,” says Fuzile.
At the same time, the growth in deposits is emerging as one of the strongest indicators of Africa's growing economic resilience. Deposits increased to R2.5 trillion, outpacing loan growth of 7%, creating larger pools of domestic capital that can be directed towards economic development.
Fuzile says, "When households save, when entrepreneurs build businesses and when companies invest for growth, they create the foundations for stronger economies. Across many African markets we are seeing increasing evidence of exactly this kind of participation."
The opportunity is also being supported by rising investment in the infrastructure needed to unlock long-term growth. Since 2022, Standard Bank has mobilised R328 billion in sustainable finance, including R50.6 billion during the first six months of 2026, supporting projects across renewable energy, water, agriculture, transport and broader economic inclusion initiatives.
These investments are helping address some of the structural challenges that have historically constrained growth, while creating the conditions for greater regional trade, productivity and investment.
Africa's next growth phase will be driven by improved infrastructure networks coupled with increasing economic participation by larger numbers of Africans, both men and women. There is considerable pent-up demand across the continent, not only for banking services but for trade, housing, energy, logistics, digital connectivity and entrepreneurship. As barriers to commerce continue to fall and economies become more connected, we expect that demand to translate into even greater levels of economic activity, investment and growth,” says Fuzile.
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