MTN summit - African fintech must move beyond access to financial health, leaders say

At the MTN Group Fintech Annual Summit in Johannesburg, industry leaders, regulators and policymakers explored how digital finance could move beyond payments and transfers to help consumers build resilience, grow businesses and take greater control of their financial futures. As mobile money matures, the next frontier may be less about opening the door — and more about what lies beyond it.

Opening the summit, MTN Group Board Chairman: Mcebisi Jonas said financial inclusion had been an essential starting point, but the next frontier is financial health. "The conversation has to move beyond access. Financial inclusion was an essential starting point, but the next frontier is financial health, helping people manage their day-to-day financial needs, withstand economic shocks, plan for the future and participate more meaningfully in economic activity," Jonas said.

For entrepreneurs and informal traders, he added, digital financial services can provide access to working capital, enable business growth and strengthen financial resilience.

MTN Group Fintech chief executive officer, Serigne Dioum described this evolution as a move from access to active participation. "We started with giving access to financial inclusion to our customers, but now we want to really go from access to active participation. That means that we want to help our customers to do more," said Dioum.

Beyond basic payments

South African Reserve Bank Governor, Lesetja Kganyago also highlighted the role of technology in enabling this evolution, particularly as digital innovation continues to reshape how people transact. "Technology is changing quickly, making better payments possible, faster, more affordable, safer and more inclusive," said Kganyago.

Through MoMo, MTN Group Fintech is extending beyond basic payments and transfers into services including savings, credit, merchant payments and cross-border transfers. Jonas said Africa now has an opportunity to build digital financial systems that reflect how people actually earn, spend, save and run businesses, while ensuring innovation is underpinned by trust, consumer protection and financial stability.

Africa's next fintech frontier, he concluded, is ultimately about enabling people to use financial services to build businesses, manage risk and gain greater control over their economic futures.