Fintech leaders at the 3i Africa Summit have called for deeper collaboration, talent development and regulatory alignment to position Africa as a global hub for digital finance innovation.
Speaking at a joint media briefing, Chief Executive Officer of JUMO Ghana, Philip Owusu-Gyamfi, Senior Partner at GFTN, Matteo Rizzi, and Group Chief Executive Officer of JUMO, Paul Whelpton, said Africa had moved beyond simply adopting financial technology and was now producing innovations with global relevance.
According to the speakers, the rapid growth of mobile money, digital lending and fintech services across the continent has demonstrated Africa’s ability to develop solutions capable of transforming lives and economies.
“Africa has been a champion for innovation in financial services in the past 10 years. What we need now is acceleration,” Paul Whelpton stated.
The executives stressed that sustaining the next phase of growth would require deliberate investment in African talent, stronger cooperation between regulators and industry players, and harmonised digital finance systems across borders.
They noted that digital finance has already expanded access to credit and payment services for millions of Africans who were previously excluded from the traditional banking sector.
“We are transitioning from mobile money systems into true digital finance, and that presents enormous opportunities for African markets,” Philip Owusu-Gyamfi said.
The speakers also highlighted that several African innovations, particularly mobile money systems pioneered in East Africa, have become global models replicated in markets across Asia, including Bangladesh.
“We need to start telling our own innovation stories because Africa has genuinely pioneered solutions that the rest of the world is now learning from,” Owusu-Gyamfi added.
The media briefing further focused on the need for regulatory cooperation to accelerate cross-border digital trade and financial inclusion across the continent.
The executives pointed to ongoing efforts aimed at simplifying licensing processes and improving interoperability among African financial systems, arguing that connected digital platforms could significantly reduce barriers to doing business across Africa.
“The benefit of digital finance is that it is cross-border and transferable. Once systems are connected, transactions and customer verification become much easier,” Matteo Rizzi explained.
They observed that the increasing participation of African central banks and regulators at the summit reflected growing recognition of fintech’s role in driving economic development.
The speakers also called for greater investment in skills development, particularly in artificial intelligence, software engineering and entrepreneurship, to help Africa produce the next generation of global technology leaders.
“The speed at which we organise capacity building is the same speed at which Africa can become the next global business hub,” Rizzi stated.
They further noted that collaboration among fintech firms, telecom operators, banks and policymakers was helping to reduce the cost of digital infrastructure and accelerate innovation across the sector.
The 3i Africa Summit brought together fintech companies, regulators, investors and development institutions to discuss the future of digital finance and inclusive economic growth across Africa.
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The post Fintech Leaders Push for Stronger Collaboration to Drive Africa’s Digital Finance Growth appeared first on The Ghanaian Chronicle.
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