Fintech is emerging as a key driver of economic transformation in Africa, reshaping the continent’s financial and commercial dynamics. It promotes large-scale financial inclusion and supports the rise of mobile money, which now structures a significant share of digital transactions. This infrastructure directly contributes to regional integration and to the ambitions of the African Continental Free Trade Area (AfCFTA), by facilitating the movement of goods, services, and capital.
A true driver of Africa’s renewal, fintech is reshaping the continent’s economic dynamics. Sub-Saharan Africa accounts for more than two-thirds of global mobile money accounts, with nearly one billion active accounts generating transactions worth several hundred billion dollars. This digital infrastructure supports the African Continental Free Trade Area (AfCFTA), whose impact is estimated at USD 450 billion by 2035, by facilitating market integration and interconnection.
“Today, the essential role of fintech is to promote digital financial activity. And when we talk about digital financial activity, it includes finance itself, which used to be an activity reserved for banks. Today, however, there are other entities involved, including distributors, financial partners, and aggregators.”
Ibrahima Ndiaye Director of Digital Services, West African Financial Corporation Senegal
Financial integration is accelerating with the reduction in cross-border transfer costs, which have fallen from over 7% to less than 3% on some corridors. The Pan-African Payment and Settlement System facilitates payments in local currencies, while the African Export-Import Bank projects more than a 50% increase in intra-African trade, driven by the digitalization of payments and finances.
“There is also an issue regarding traditional actors, such as banks, which today must also play a role in promoting the dynamic between traditional players and fintech companies. All of this is, of course, aimed at fostering trade across our continent, promoting financial inclusion, bringing as many young people and individuals into the system as possible, and ultimately ensuring that we all benefit together on our beloved continent.”
Ziad Baddou Director at Deloitte Consulting Morocco
Fintech is also expanding financial inclusion on a large scale: more than 300 million micro-entrepreneurs and farmers now have access to credit and digital insurance through AI and alternative data. This dynamic is boosting productivity and regional value chains, particularly within the Southern African Development Community.
“Several actions have been undertaken at the regional and national levels to implement the SADC industrialization strategy, as well as to remove obstacles to agro-processing and value chains, in order to improve productivity, competitiveness, and private sector investment.”
Elias Magosi Executive Secretary, Southern African Development Community South Africa
In 2025, the sector reached a major milestone with a financial inclusion rate of 58% in Sub-Saharan Africa. Nearly 64 billion transactions were processed through instant payment systems, representing around USD 2 trillion, confirming fintech as a key driver of African economic integration.
