At the 7th Africa Fintech Forum 2026 in Nairobi, hosted by BII Global, Dr. Carl Odame-Gyenti delivered a keynote address on the theme “Empowering Innovation, Driving Inclusion: The Future of Fintech in Africa.” His presentation focused on how Africa can bridge the gap between traditional banking institutions and emerging fintech ecosystems to accelerate financial inclusion, economic growth, and digital transformation across the continent.
Dr. Odame-Gyenti highlighted the remarkable transformation taking place within Africa’s financial services sector. Mobile phones, digital wallets, digital microcredit platforms, and instant payment solutions have become an integral part of daily life for millions of Africans. Today, Africa leads the global digital finance landscape, with Sub-Saharan Africa and North Africa collectively accounting for more than 1.2 billion registered mobile money accounts—over half of the world’s 2.3 billion accounts. These platforms facilitate more than $1.4 trillion in annual transaction volumes and continue to serve as a cornerstone of financial inclusion across the continent.
According to Dr. Odame-Gyenti, the evolution of Africa’s financial sector should not be viewed as a competition between traditional banks and fintech companies. Rather, it presents an opportunity for banks, fintechs, and regulators to work collaboratively in building a financial system that is more inclusive, efficient, and accessible, powered by homegrown innovation and technology.
To unlock Africa’s financial future, he outlined four critical priorities.
Strengthening Collaboration Between Banks, Fintechs, and Regulators
Dr. Odame-Gyenti noted that for many years fintech firms were perceived as challengers seeking to replace traditional banks, while regulators were often viewed as obstacles to innovation. However, he argued that such perspectives are now outdated.
He explained that banks contribute trust, extensive customer networks, and robust risk management capabilities. Fintech companies bring agility, innovation, and user-centric digital experiences, while regulators provide the stability, oversight, and consumer protection necessary for a healthy financial ecosystem.
He stressed that meaningful collaboration among these stakeholders is essential for sustainable innovation. This includes regular dialogue, co-creation of financial products, and the establishment of regulatory sandboxes and innovation hubs that allow new ideas to be tested safely.
According to him, collaboration is no longer optional but a prerequisite for developing financial systems that are innovative, secure, and future-ready.
Accelerating Cross-Border Payments and Digital Financial Infrastructure
Dr. Odame-Gyenti emphasized that as intra-African trade continues to expand, the movement of money across borders remains unnecessarily slow, costly, and complex. In many instances, transferring funds through financial institutions outside Africa is easier than sending money directly between neighbouring African countries.
He pointed to initiatives such as the Pan-African Payment and Settlement System (PAPSS) as important mechanisms for addressing these challenges.
He advocated for interoperable payment systems that enable seamless transactions across borders, alongside the development of shared digital infrastructure, including digital identity systems, harmonized Know Your Customer (KYC) frameworks, and integrated credit information platforms.
Such infrastructure, he explained, would make it easier for individuals and businesses to access financial services across multiple jurisdictions while supporting regional trade and economic integration.
Dr. Odame-Gyenti stated that banks can leverage their regional networks to support these developments, fintechs can create user-friendly applications, and regulators can harmonize policies to facilitate growth across borders.
Integrating Digital Assets and Blockchain into Mainstream Finance
The keynote also addressed the growing significance of digital assets and blockchain technology in the global financial ecosystem.
Dr. Odame-Gyenti observed that these technologies are transforming how value is stored, transferred, and recorded. In Africa, they have the potential to improve payment efficiency, reduce administrative burdens, and increase transparency in sectors such as trade finance and supply chain management.
At the same time, he acknowledged the risks associated with digital assets, including fraud, volatility, and potential misuse for illicit activities.
Rather than ignoring these technologies, he advocated for their responsible integration into the financial system through robust regulatory frameworks.
He argued that any digital financial service performing functions similar to traditional financial services should be subject to comparable standards relating to transparency, customer protection, anti-money laundering measures, and KYC compliance.
Dr. Odame-Gyenti further emphasized that blockchain applications such as tokenization should be adopted where they address genuine business challenges rather than simply following industry trends.
He noted with optimism that several African countries, including Ghana, Kenya, and Nigeria, are actively developing legal and regulatory frameworks for virtual assets and digital finance.
According to him, the objective is not to replace traditional banking institutions but to leverage emerging technologies to enhance banking services, particularly in cross-border payments and trade finance.
Building Scalable and Trusted Fintech Ecosystems
Dr. Odame-Gyenti underscored the importance of developing fintech ecosystems that are both scalable and trusted.
He warned that growth without trust is unsustainable, while trust without growth limits impact.
To build trust, he advocated for strong cybersecurity frameworks, effective risk management, responsible data governance, and fair treatment of customers. Financial products, he said, must be transparent, easy to understand, and fairly priced.
He also highlighted the need for a workforce equipped with both technological and regulatory expertise. This includes technologists who understand compliance and risk management, as well as bankers and regulators who are familiar with APIs, cloud computing, artificial intelligence, and other emerging technologies.
Additionally, he called for greater interoperability among ecosystem participants through open standards and APIs, enabling banks, fintechs, telecommunications companies, and other stakeholders to collaborate more effectively.
He stressed that sustainable growth requires patient capital and long-term investment strategies rather than a focus on short-term gains.
According to Dr. Odame-Gyenti, getting these fundamentals right would enable Africa to develop fintech ecosystems that empower individuals and businesses to save, borrow, invest, transact, and grow with confidence.
A Shared Responsibility for Africa’s Financial Future
In concluding his address, Dr. Odame-Gyenti challenged stakeholders to rethink the narrative surrounding competition in financial services.
He argued that the central question is not whether banks or fintechs will ultimately prevail. Rather, it is whether Africa will embrace collaboration as the pathway to achieving digital financial transformation.
He maintained that Africa’s future depends on banks that are willing to innovate, fintech companies that prioritize trust and compliance, and regulators that encourage innovation while safeguarding consumers and maintaining financial stability.
By working together, he said, stakeholders can build a financial system that is more inclusive, interconnected, and digitally enabled—one that empowers farmers to receive payments instantly, helps small businesses access affordable financing, supports entrepreneurs operating across borders, and enables workers to send money home quickly and affordably.
Dr. Odame-Gyenti concluded by emphasizing that Africa has a unique opportunity not only to participate in global financial innovation but to lead it. Through collaboration, shared platforms, and a commitment to sustainable development, the continent can build a financial future that delivers prosperity and opportunity for all.
About the Speaker
Dr. Carl Odame-Gyenti is the author of Dare to Dream and serves as Financial Institutions and Fintech Coverage Lead for Kenya and East Africa with an international banking institution.
Email: Carl.odamegyenti2@gmail.com
Mobile: +254 705 459 061
Source: Dr. Carl Odame-Gyenti
