Financial technology innovation must go beyond creating new tools and instead deliver tangible economic opportunities for people and businesses, said Hortense Mudenge, the Chief Executive Officer of the Kigali International Financial Centre (KIFC) on March 11.
Speaking at the official opening of the Inclusive Fintech Forum, Mudenge said the next phase of financial innovation should focus on building systems that work for the real economy.
“Across the continent, fintech innovation is reshaping how people save, invest, transact, and build businesses. The next chapter should be about building systems that work, financial innovation must translate into real economic opportunity for people, for businesses, and for nations,” said Mudenge.
The CEO highlighted that innovation should help bridge the gaps faced by millions of people who remain underserved by traditional financial systems, particularly in developing markets.
“Beyond the numbers, what truly matters is the spirit of collaboration where capital meets opportunity, innovation aligns with regulation, and ambition grows through partnership,” she said.
Mudenge also said that Rwanda has positioned itself as a testing ground for financial innovation, with policymakers promoting frameworks that allow capital to flow efficiently, transparently, and responsibly.
Rwanda’s Prime Minister Justin Nsengiyumva said rapidly advancing digital technologies are enabling African entrepreneurs to bypass legacy infrastructure and develop new solutions, particularly in the fintech sector, which has emerged as the leading segment of Africa’s startup ecosystem.
“Rwanda has made significant progress in digital transformation, achieving near-universal 4G population coverage and expanding access to financial services to 92 per cent of adults, helping strengthen financial inclusion and formal economic participation,” he said.
“Inclusive fintech is not just about innovation. It is about equity, trust, and shared prosperity. Rwanda is committed to creating an environment that supports responsible innovation and investment.”
The opportunity for Africa to become a cradle of global business and innovation is real. The foundation for this transformation will be robust and inclusive financial systems capable of mobilising capital towards the continent’s most pressing priorities, Nsengiyumva said.
Soraya Hakuziyaremye, the Governor of the National Bank of Rwanda (NBR), said that strong leadership, regulatory cooperation, and deeper partnerships will be critical in shaping Africa’s digital financial future.
According to Hakuziyaremye, technologies such as digital currencies, instant payments, artificial intelligence, tokenization, and quantum computing are already reshaping how financial systems operate worldwide.
“The future of finance is already here, but the key question now is whether financial institutions and regulatory frameworks are prepared for the next wave of innovation.”
More than 75 per cent of adults worldwide now have access to a financial account, up from about half of the global population a decade ago. Sub-Saharan Africa remains the global leader in mobile money adoption, with more than 600 million registered accounts and continued growth in digital payments.
“These are not just statistics. They represent farmers, traders, women, and young people whose financial well-being has improved through greater access to financial services,” said Hakuziyaremye.
Rwanda has also made progress in expanding financial inclusion, increasing access to financial services from 21 per cent in 2008 to about 92 per cent of adults today, she said. However, more work is needed to ensure households and businesses achieve financial resilience.
She pointed to the newly launched National Financial Inclusion Strategy 2026–2030, which aims to deepen financial access and strengthen the country’s financial ecosystem.
“Achieving the next stage of financial transformation will require stronger regulatory coordination across African markets. This includes building interoperable cross-border payment systems, supporting digital assets, and leveraging artificial intelligence to deliver affordable and secure financial services,” said Hakuziyaremye.
During a roundtable of central bank governors held alongside the forum, regulators agreed on the urgency of strengthening collaboration across the continent to balance innovation with financial stability and monetary sovereignty.
“No single institution and no single country can do this alone; partnerships forged during the forum could shape the future of Africa’s financial systems. The goal is to build a financial ecosystem that is inclusive, innovative, and globally competitive,” she said.
The forum, which attracted more than 3,000 people, is expected to explore how digital public infrastructure can support economic growth and how new financial technologies can unlock opportunities for entrepreneurs and small businesses across Africa.
