MTN Group concluded its inaugural Fintech Summit 2025 in Johannesburg with ambitious plans to transform Africa’s digital financial landscape through a comprehensive digital-first strategy that moves beyond basic financial inclusion toward wealth creation for 283 million active users.
The three-day gathering, held from September 9-11 under the theme “Take-Off,” brought together over 350 policymakers, regulators, fintech innovators, and industry leaders to chart the future of Africa’s financial ecosystem. The summit marked a pivotal moment for MTN Group Fintech as it positions itself to capture a larger share of the continent’s rapidly expanding digital economy.
MTN’s Mobile Money platform now handles part of the $1.1 trillion in annual mobile money transactions across Sub-Saharan Africa, which contributes around 5% to the region’s GDP, underscoring the platform’s critical role in Africa’s economic transformation. With 33% of adults in Sub-Saharan Africa now using mobile money, the market represents unprecedented opportunities for expansion and innovation.
CEO Serigne Dioum articulated MTN’s evolution from a service provider to a comprehensive fintech platform, stating that the company’s ambition extends beyond mere financial inclusion. “Our ambition is to move Africans from being merely financially included to becoming financially independent and ultimately wealthy,” Dioum declared, signaling a strategic shift toward wealth management and investment services.
The announcement comes as Africa’s mobile money market projects explosive growth from $674.8 million in 2023 to $3.45 billion by 2032, representing a compound annual growth rate of 19.3%. Sub-Saharan Africa alone accounts for 51% of the global mobile money market, positioning MTN to benefit significantly from this expansion.
MTN’s digital-first strategy centers on three dedicated applications targeting consumers, businesses, and agents, alongside a comprehensive mini-app ecosystem offering services ranging from credit and savings to education and business tools. The platform will maintain USSD-based services to ensure continued accessibility for underserved rural communities where smartphone penetration remains limited.
The summit emphasized micro, small, and medium-sized enterprises as the backbone of African economies, with delegates highlighting how digital tools can improve credit access, enhance compliance, and expand economic participation. Case studies demonstrated how business owners like Miriam leverage MoMo for both payments and loans, illustrating the platform’s grassroots impact on economic development.
Nikiwe Tanga, Chief Legal Officer at MTN Group Fintech, emphasized the company’s commitment to building trusted, resilient, and sustainable systems. The approach includes advancing regulatory frameworks, strengthening partnerships with governments and financial institutions, and embedding safety and compliance into every product offering.
Delegates identified four critical priorities for Africa’s fintech growth: regulation, innovation, safety, and interoperability. The discussion revealed significant challenges in cross-border payments and remittances, with calls for harmonized regulatory frameworks to enable seamless transactions under the African Continental Free Trade Area.
Innovation discussions focused on African-specific solutions, including alternative credit scoring powered by machine learning and specialized mini-applications supporting small and medium enterprises. These innovations address unique challenges facing African markets, particularly in regions with limited traditional banking infrastructure.
Security and trust emerged as paramount concerns for user adoption, with summit participants advocating for fraud intelligence networks, real-time monitoring systems, and enhanced consumer education programs. The emphasis on security reflects the critical importance of maintaining user confidence as mobile money platforms handle increasingly large transaction volumes.
Interoperability represented the most pressing technical challenge, with speakers highlighting the high costs of intra-African remittances that limit economic integration across the continent. The push for improved interoperability aligns with broader African Union initiatives to enhance regional economic cooperation and trade facilitation.
MTN’s agent network will remain central to bridging the digital divide, supporting customer adoption as smartphone penetration increases across African markets. The company recognizes that human intermediaries continue playing crucial roles in markets where digital literacy and infrastructure development remain ongoing challenges.
The summit’s timing proves strategic as African governments increasingly recognize mobile money’s potential for driving financial inclusion and economic development. MTN Mobile Money processed 13.4 billion transactions worth $221.3 billion in 2022, demonstrating the platform’s massive scale and economic impact.
For African economies, MTN’s expanded strategy represents potential acceleration of digital transformation initiatives that could reduce dependence on traditional banking systems while expanding access to financial services in underserved communities.
The success of MTN’s digital-first approach will largely depend on regulatory cooperation across multiple jurisdictions, continued infrastructure development, and the company’s ability to balance innovation with the accessibility requirements of diverse African markets.
Dioum concluded the summit with ambitious rhetoric, declaring that “the future is calling, the engines are ready, the runway is clear” for Africa’s digital financial transformation, positioning MTN as the primary vehicle for continental fintech leadership.
Source: newsghana.com.gh
