by TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – AFRICA’S fintech sector is entering a new phase, with industry leaders calling for a shift from simply expanding financial access to helping people build financial resilience and participate more fully in the economy.
The message emerged at the MTN Group Fintech Annual Summit in Johannesburg, where regulators, policymakers, development institutions and technology leaders gathered to discuss the continent’s digital financial future.
MTN Group Board Chairman Mcebisi Jonas said financial inclusion had been an important starting point, but the next priority was financial health — enabling people to manage daily needs, withstand economic shocks and plan for the future.
For entrepreneurs and informal traders, digital financial services can also provide working capital, support business growth and strengthen resilience.
MTN Group Fintech CEO Serigne Dioum said the sector needed to move from providing access to enabling “active participation”, allowing customers to do more with financial services.
South African Reserve Bank Governor Lesetja Kganyago highlighted technology’s role in transforming payments, making transactions faster, more affordable, safer and more inclusive.
Through its MoMo platform, MTN Group Fintech has expanded beyond payments and transfers into savings, credit, merchant payments and cross-border transfers.
Jonas said Africa had an opportunity to build digital financial systems around the way people actually earn, spend, save and operate businesses, while maintaining trust, consumer protection and financial stability.
The emerging vision is therefore broader than financial inclusion. Africa’s next fintech frontier is about giving people the tools to build businesses, manage risk and gain greater control over their economic futures.
– CAJ News