Moheet: Africa’s financial split costs $1.4T

Mohamed Meit, the Executive Director of the International Monetary Fund, confirmed that structural fragmentation in African financial markets threatens the continent's economy. He explained that Africa relies on 54 financial markets and 42 different currencies, which increases the cost of capital by up to 50% and hampers the ability to leverage $1.43 trillion in annual financial flows. He called for the unification of regulatory and legislative frameworks, the development of digital infrastructure, and the activation of integrated African payment systems, all aimed at strengthening financial integration and economic sustainability across Africa.

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