Cheapest Methods to Send Money Across Africa

Cross-border payments within Africa have historically been among the most expensive in the world. For decades, sending money from Nigeria to Ghana, South Africa, or Kenya often meant routing funds through Europe or the United States, incurring multiple correspondent bank fees, poor exchange rates, and long settlement times.

In 2026, this reality has changed dramatically, thanks to the rise of mobile money, Africa-focused fintech apps, regional payment infrastructure, and alternative settlement rails. Africans now have multiple low-cost, fast, and reliable ways to send money across borders. In many cases, transfers that once cost 8–15% can now be completed for under 1%, or even free, depending on the route.

This guide explores the cheapest methods to send money across Africa in 2026, explains why they are cheaper, and provides examples so you can choose the right option for your needs.

Cheapest African Cross-Border Methods

A common mistake people make when comparing money transfer services is focusing only on the advertised transfer fee. In Africa, especially, the real cost often hides in the exchange rate.

To accurately judge cost, you must consider: the explicit transfer fee, the FX margin added to the exchange, and the payout method (bank, mobile money, or cash)

The cheapest method is the one with the lowest total cost, not necessarily the lowest visible fee.

1. Mobile Money Wallet-to-Wallet Transfers

Mobile money operators like M-Pesa, MTN’s MoMo, Airtel Money, and Orange Money remain the backbone of low-cost payments across Africa in 2026. When both the sender and receiver use compatible mobile wallets, transfers can be nearly free and settle instantly.

Why is this method cheap?

Mobile money transfers avoid international correspondent banks entirely. Funds are settled locally or regionally in local currencies, eliminating USD conversion, SWIFT fees, and intermediary charges.

Usecases

• Sending money from Kenya to Uganda via compatible mobile wallets can cost close to zero.
• A user in Ghana sending money to the Ivory Coast through supported wallet integrations may pay only a small flat fee.
• Domestic mobile money transfers remain free or extremely cheap, encouraging wallet adoption.

Best use cases

• Personal and family remittances
• Small and medium transfers
• Countries with strong mobile money penetration (East and West Africa)

Limitations

• Not all African countries have interoperable mobile money systems
• Wallet compatibility across borders is still expanding

2. Africa-Focused Fintech Apps

Africa-focused fintech platforms have become the workhorse of cheap cross-border payments in 2026. These apps are designed specifically to move money between African countries without relying on expensive global banking rails.

Notable example of an Africa-focused fintech is Accrue. There are other fintechs, such as Raenest, Juicyway, Grey, and Africhange, that enable the movement of money across Africa.

Why are these apps cheap?

These platforms:

• Maintain local payout accounts in multiple African countries
• Settle transactions internally rather than through SWIFT
• Use capped FX margins, often below 1%.
• Offer free wallet-to-wallet transfers within the same app

Usecases

• A freelancer receiving USD via Accrue can convert to NGN or KES at ~1% cost and withdraw locally for a small flat fee.
• A startup can pay contractors in Nigeria, Kenya, or Ghana with $0–$1 payout fees.
• A business using Accrue Business can move liquidity between African markets without repeated conversion losses.

Best use cases

• Freelancers and remote workers
• SMEs and startups
• Repeated or structured Africa-to-Africa payments

Limitations

• Coverage varies by country
• FX transparency differs by provider

3. Peer-to-Peer Fintech Networks

Peer-to-peer (P2P) fintech apps have emerged as one of the cheapest ways for individuals, especially friends and family, to send money across Africa.

Leading examples are Accrue and Chipper Cash.

Why P2P apps are cheap

• Transfers are often subsidized to drive adoption
• FX fees are minimal or eliminated on supported corridors
• Infrastructure is mobile-first and highly optimized

Practical examples

• A student in Uganda can receive money from family in Kenya without any issues.
• Friends in Nigeria and Ghana can send small amounts back and forth without worrying about fees.
• Migrants within Africa can support their families without losing money to FX spreads.

Best use cases

• Friends and family transfers
• Small, frequent payments
• Students and personal remittances

Limitations

• Limited country coverage
• Not designed for business or high-volume payments

4. Regional Bank Transfers via PAPSS

The Pan-African Payment and Settlement System (PAPSS) has quietly become a major cost-saving mechanism for bank-to-bank transfers within Africa. It has become the cheapest traditional bank alternative.

Why is PAPSS cheaper than SWIFT?

• Transactions settle in local currencies
• No forced USD or EUR conversion
• Fewer correspondent banks are involved

Usecases

• A Ghanaian business paying a Nigerian supplier via PAPSS avoids international wire fees.
• Regional trade payments clear faster and cheaper than SWIFT transfers.
• Central banks and commercial banks use PAPSS to reduce FX pressure.

Best use cases

• Bank-to-bank transfers
• Medium to large value transactions
• Corporate and institutional payments

Limitations

• Depends on bank participation
• Less consumer-friendly than fintech apps

5. Flat-Fee Remittance Apps

Some remittance platforms focus on flat pricing, which can be cost-effective for large transfers. Notable examples are Lemfi, Monieworld by Moniepoint, and Send by Flutterwave.

Why flat fees can be cheap

• The fee does not scale with the amount
• Ideal for high-value transfers

Usecases

• Sending $5,000 from Nigeria to Kenya may cost the same as sending $500.
• Businesses making one-time supplier payments benefit from predictable fees.

Best use cases

• Large transfers
• Business payments

Limitations

• More expensive for small transfers
• FX margin still matters

6. Global Platforms

These platforms are not Africa-first. Wise remains one of the most trusted low-cost options for cross-border transfers involving Africa.

Why do they remain competitive?

• Uses mid-market exchange rates
• Clearly displays all fees upfront
• No hidden margins

Usecases

• Sending money from Europe to Nigeria with predictable costs
• Transparent pricing for NGOs and international workers

Best use cases

• Africa to Europe or the US transfers
• Users prioritizing clarity over the absolute lowest cost

Limitations

• Less optimized for Africa-to-Africa wallet transfers

Final Thoughts: The Cheapest Way Depends on You

In 2026, there is no single “best” method for everyone. The cheapest option depends on: countries involved, transfer size, speed required, and payout method

That said, Africans today enjoy more affordable cross-border payment on Accrue and on other options than ever before, marking a major shift from the high-cost past.