MTN CEO champions inclusive digital finance as Africa enters next growth phase

President and Chief Executive Officer of MTN Group, Ralph Mupita, has reaffirmed the company’s commitment to advancing inclusive digital finance across Africa as the continent moves into a new phase of financial innovation.

Speaking during a virtual fireside chat at the 3i Africa Summit 2026 in Accra, Mr. Mupita said telecom operators are playing an increasingly critical role in expanding access to financial services, reducing transaction costs, and driving wider economic participation.

He observed that Africa’s digital finance ecosystem is rapidly evolving beyond basic mobile money services into more sophisticated and integrated financial systems powered by artificial intelligence and growing smartphone penetration.

According to him, the continent is nearing a major turning point in financial inclusion, with digital platforms transforming payments, credit, remittances, and cross-border trade.

“The pace of change is accelerating,” he said, noting that emerging technologies such as AI are shortening development timelines and unlocking opportunities that previously would have taken years to materialise.

Mr. Mupita described mobile money as the foundation of Africa’s digital finance transformation, adding that the sector has grown from simple peer-to-peer transfers into a significant financial ecosystem contributing to global transaction volumes estimated at nearly US$2 trillion.

He explained that the next stage of growth will be driven largely by smartphone-based solutions, gradually replacing traditional USSD systems with more advanced digital finance platforms integrating services such as nano-lending, digital banking, remittances, and emerging innovations including stablecoins and crypto-enabled tools.

“This is a structural shift from mobile money to full digital finance,” he stated, describing the transition as a key catalyst for economic growth and financial inclusion across the continent.

Mr. Mupita also highlighted the role of telecom-led platforms in reaching underserved communities, particularly young Africans, through extensive distribution networks capable of delivering financial services at scale and at lower costs.

Drawing parallels with India’s digital transformation, he said Africa has a similar opportunity to leverage digital finance to improve productivity, deepen trade, and create employment opportunities.

However, he stressed that regulatory clarity remains essential for sustaining momentum in the sector. He called for policies that support innovation while ensuring consumer protection, cautioning that uncertainty could discourage investment.

He further warned about the growing threat of fraud and digital scams, underscoring the importance of strong regulatory frameworks and trust in digital financial systems.

On cross-border payments, Mr. Mupita advocated greater integration among African markets, arguing that fragmented national payment systems continue to increase transaction costs and constrain trade.

He noted that the future of commerce on the continent will depend on seamless financial interoperability that enables faster and more efficient cross-border transactions, adding that institutions such as African Export-Import Bank are already playing a vital role in advancing this agenda.

Touching on artificial intelligence, he said the technology holds significant promise for fraud detection, credit scoring, and customer service, but emphasised that responsible deployment and human oversight will be necessary to maintain trust in digital systems.

Mr. Mupita concluded that Africa’s digital finance future will rest on three key pillars — resilience, trust, and regional integration — stressing that stronger collaboration among stakeholders will be crucial to unlocking long-term socio-economic transformation across the continent.

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