U.S. Africa journalist Eden Harris has warned that rising xenophobic tensions across parts of Africa could threaten ongoing efforts to deepen fintech integration and economic cooperation under the African Continental Free Trade Area (AfCFTA).
Speaking during an interview on ARISE News, Harris said cross-border fintech expansion depends heavily on trust, diplomacy, and cooperation among African states.
“Xenophobia threatens Africa’s fintech integration push,” she said.
According to Harris, growing hostility toward foreign Africans in some countries risks slowing progress in digital banking, startup expansion, and regional investment.
“Cross-border payments and digital banking expansion all depend on trust between African states,” she stated.
Harris referenced concerns raised by fintech leaders in Ghana, who warned that xenophobic tensions could affect legislation and regional cooperation designed to support seamless business operations across borders.
“It’s possible that it will slow down cross-border trade,” she said.
She stated that economic integration and fintech growth cannot succeed in an atmosphere of distrust and hostility among African nations.
“Fintech and diplomacy are not separate stories,” she stated.
According to Harris, the roots of xenophobia across the continent are deeply tied to historical and structural issues dating back to colonialism.
“The core issue is colonialism,” she said.
She explained that economic frustration, unemployment, and competition for opportunities often fuel tensions between citizens and foreign Africans.
“People are saying Nigerians or Ghanaians are taking our jobs,” she stated.
Despite these tensions, Harris maintained that AfCFTA and cross-border fintech partnerships still offer major opportunities for economic growth and entrepreneurship across Africa.
“The free trade agreement has been working,” she said.
According to her, fintech integration has already helped create easier pathways for licensed businesses to operate across multiple African countries.
“It creates pathways for licence passporting,” she stated.
Harris explained that fintech “passporting” arrangements allow companies licensed in one African country to expand operations into other countries with fewer restrictions.
“It’s easier to get your business off the ground,” she said.
She stated that stronger diplomatic engagement among African governments remains essential to sustaining economic integration efforts.
“Deals happen in Africa through diplomacy,” she stated.
Harris said African leaders must prioritise dialogue and regional cooperation to address unemployment, economic inequality, and cross-border tensions.
“Solutions are already in Africa,” she said.
According to her, governments may temporarily become more cautious about economic integration while managing current tensions and evacuation concerns involving their citizens.
“It will be hard for governments right now,” she stated.
Harris expressed optimism that African countries would eventually return to broader integration efforts once immediate tensions are resolved.
“When that is worked through, beautiful things can happen in Africa,” she said.
She also highlighted fintech’s growing role in expanding financial inclusion across the continent, especially for underserved populations.
“Fintech has been a breakthrough solution for the continent,” she stated.
According to Harris, technology-driven financial systems are helping bring banking services to millions of previously unbanked Africans.
“People benefit from financial inclusion,” she added.
Harris concluded that while xenophobic tensions pose a serious threat to Africa’s fintech integration and regional trade ambitions, stronger diplomacy, economic cooperation, and cross-border collaboration remain essential for achieving long-term financial and economic integration across the continent.
Ojo Triumph
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