How Businesses in Singapore Can Accept Payments in Africa

Africa is fast becoming a major opportunity for Singapore-based businesses, especially in industries like Forex trading, crypto, online investments, and e-commerce.

The challenge? Collecting payments.

While Singapore and most of Asia rely on Visa, Mastercard, and digital wallets like GrabPay, Africa’s payment landscape is completely different. Each country operates its own ecosystem — often dominated by mobile money or local bank transfers.

Here’s a quick breakdown:

• Kenya: M-PESA

• Nigeria: Opay and Bank Transfers

• Uganda: MTN Mobile Money and Airtel Money

• Tanzania: TigoPesa and Vodacom M-Pesa

• Ghana: MTN MoMo

• South Africa: Ozow, EFT, and Instant Bank Transfers

If your business only accepts Visa or Mastercard, you’re reaching less than 5% of the total African market. Over 90% of users prefer paying through mobile money, local wallets, or direct bank transfers.

To truly sell in Africa, you need a payment partner that connects Singapore businesses with local payment systems across multiple countries. Below are the top solutions to help you get started.

1. Elemitech

Elemitech is a robust cross-border payment platform built for global companies expanding into Africa. It supports collections and payouts across more than 14 countries — including Kenya, Nigeria, Uganda, Ghana, Tanzania, Rwanda, and South Africa.

With Elemitech, Singapore businesses can accept payments via mobile money, cards, or local bank transfers, and receive settlements directly into Singapore bank accounts or crypto wallets.

Why it’s ideal for Singapore-based businesses:

• Wide coverage: One API gives you access to all major African payment rails.

• Flexible settlements: Receive funds in USDT, USD, or SGD.

• Built for high-volume industries: Perfect for Forex, crypto, and digital investment platforms.

• Supports payouts: Send funds to partners, affiliates, or traders across Africa.

Pros:

• Covers 14+ African countries

• Fast weekly settlements

• PCI-certified and compliant

• Ideal for complex or high-risk sectors

2. DusuPay

DusuPay is another solid option for Singapore businesses entering Africa. It caters to high-risk sectors like crypto, gaming, Forex, and online finance — areas that traditional processors often avoid.

It enables both collections and payouts through local mobile money systems, bank transfers, and cards.

Why DusuPay stands out:

• High-risk friendly: Accepts industries that global gateways usually reject.

• End-to-end coverage: Manage both incoming and outgoing payments easily.

• Easy setup: Use API, dashboard, or payment links.

• Proven reliability: Trusted by global companies operating across Africa.

Pros:

• Great for crypto, gaming, and Forex businesses

• Covers East, West, and Southern Africa

• Payouts in fiat or crypto

• Secure and compliant infrastructure

3. Paystack

Paystack, owned by Stripe, is one of Africa’s leading payment gateways. It covers Nigeria, Ghana, Kenya, and South Africa — four of the continent’s largest markets.

Singapore companies can use Paystack to accept payments through cards, mobile money, and local bank transfers in these countries.

Why consider Paystack:

• Reliable technology: Backed by Stripe’s infrastructure.

• Simple integration: Quick onboarding through API or dashboard.

• Strong reputation: Used by thousands of African merchants and startups.

Pros:

• Great uptime and stability

• Widely trusted by major brands

• Best for SaaS, e-commerce, and subscription models

• Competitive transaction fees

Limitations:

• Coverage limited to a few countries

• Not suitable for high-risk businesses like Forex or crypto

Final Thoughts

If your Singapore-based company plans to reach African customers, accepting Visa and Mastercard alone won’t cut it. To succeed, you need to go local — by integrating with the payment systems Africans already trust and use every day.

For Forex, crypto, or trading businesses, Elemitech is the top pick — offering local payment coverage, crypto settlements, and regulatory compliance.If you operate in high-risk sectors, DusuPay provides flexibility for both collections and payouts.And if you’re in mainstream e-commerce or SaaS, Paystack delivers dependable infrastructure and brand trust.

The rule is simple: To win in Africa, let Africans pay their way.