How fintech CEOs can navigate the global fintech landscape

Part of the delegates at the end of a session of the Africa Fintech Festival [Photo: Courtesy]

At the CEO Breakfast held on the sidelines of the Africa Fintech Festival, fintech leaders gathered to discuss strategies for navigating the global fintech landscape. The breakfast session, attended by key industry voices, highlighted the importance of standardization and collaboration in driving industry growth across the continent.

Esther Masese Waititu, Chief Financial Services Officer, at Safaricom highlighted the need for “an API standard, not an API,” advocating for a universal standard that enables a variety of use cases and fosters seamless integration across different platforms. “This will allow different organizations with use cases to create solutions suited to their customers,” Masese explained, highlighting the flexibility and scalability that a single standard could bring to the fintech ecosystem.

Dr. Francis Saidu, CEO of Africa Fintech Network, echoed this sentiment, highlighting the need for a unified framework for digital payments. “We need to present Africa as one platform,” said Dr Saidu, underlining the need for a cohesive approach to digital payments that would improve interoperability and inclusiveness. He also called for the development of standards that harmonize the digital payments environment in Africa, ensuring a coherent and compatible technological infrastructure.

The conversation also focused on growth and inclusivity in the fintech sector. “How can we make the pie bigger for everyone?” posed Masese, underlining the importance of expanding the fintech ecosystem for the benefit of all stakeholders. This sentiment was reinforced by Credit Info’s Kamau Kunyiha, who highlighted the untapped opportunities in the sector. “There are so many untapped opportunities. We need to leverage everyone’s tracks,” Kunyiha noted, urging the use of existing infrastructure and resources to maximize growth.

The CEO breakfast session resonated deeply with the festival’s broader theme of innovation and collaboration, with the aim of positioning Africa as a significant player in the global fintech arena. As the Africa Fintech Festival continues in Naivasha, these insights are expected to further stimulate dialogue and action among industry leaders, policymakers and innovators.

The unified vision articulated during the breakfast session outlines a clear path forward for the continent’s fintech sector: a harmonized, inclusive and prosperous landscape that leverages standardization and collaboration to achieve leaps and bounds on the global stage.

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