MTN chairman outlines Africa’s next financial frontier

Africa's digital financial services future hinges on the harmonious collaboration of various perspectives to establish a robust, trustworthy, and inclusive ecosystem, according to MTN chairman Mcebisi Jonas. At the MTN Group Fintech Summit in Johannesburg, Jonas highlighted the fintech sector's position as the largest technology funding area in Africa, attracting substantial investments despite investors' increasing selectivity.

This growth is due to the recognition of digital financial services as the backbone of African economies' participation in the digital economy and a key driver of their financial growth. Jonas emphasized that Africa's fintech journey has progressed rapidly, transforming from a practical solution for unbanked individuals to a complex digital financial ecosystem.

This transformation is evident in the staggering figures, with over $2 trillion in mobile money transactions globally in 2025, with Sub-Saharan Africa contributing $1.4 trillion. Additionally, there are now 2.3 billion registered mobile money accounts worldwide, with 593 million active 30-day accounts. Jonas explained that connectivity has enabled millions to engage in the digital economy.

He cautioned that financial inclusion is merely the starting point; the next goal is financial health, empowering individuals to manage daily financial needs, withstand economic challenges, and actively participate in economic activities. To achieve this, Jonas stressed the need for a shift in innovation focus, moving from merely speed in money transfer to creating trusted relationships with customers, delivering sustained value, and ensuring systems' reliability and transparency.

He stressed that responsible innovation must be integrated into product design, risk management, data protection, and customer engagement. Jonas urged the industry and regulators to view innovation and regulation as complementary forces rather than opposing entities. For regulators, this means crafting frameworks that safeguard consumers, maintain financial stability, while fostering experimentation and new business models.

Jonas concluded by envisioning an Africa that is digitally interconnected, financially inclusive, and economically empowered, powered by ambitious yet responsible innovation, resilient infrastructure, and a trustworthy financial system.