African regulators must strengthen cooperation if countries such as Nigeria and other markets on the continent are to unlock the region’s estimated $400 billion financial technology opportunity, industry leaders said at the ongoing Inclusive FinTech Forum 2026.
The three day forum, taking place at the Kigali Convention Centre, has brought together more than 3,500 participants including policymakers, regulators, investors and technology founders to discuss the future of financial innovation across Africa.
Speakers at the event noted that although digital finance is expanding rapidly across the continent, fragmented regulations continue to limit the growth of cross border financial services.
The $400 billion figure referenced during the discussions reflects the projected global value of the fintech sector by 2026, estimated at about $460 billion, and is often used by analysts as an indicator of the scale of opportunity available to emerging markets including Africa.
Governor of the National Bank of Rwanda, Soraya Munyana Hakuziyaremye, said closer alignment among regulators will be necessary if African countries are to fully benefit from new financial technologies.
She noted that although technological infrastructure for digital finance already exists in many markets, differences in regulatory frameworks continue to slow the development of integrated financial services.
“If we are to fully harness virtual assets, strengthen interoperable cross border payment infrastructures and leverage artificial intelligence to offer tailored, affordable, secure and fast financial services, stronger regulatory alignment across African markets will be essential,” she said.
In his keynote address, Justin Nsengiyumva said Africa is entering a period of major economic change that presents both risks and opportunities for the continent.
According to him, Africa has the potential to become a centre for global business and innovation if it develops financial systems capable of mobilising capital for key sectors such as energy, digital infrastructure, manufacturing and human capital development.
“This forum comes at a defining moment for Africa and indeed the world,” Nsengiyumva said. “The financial and economic order many of us have known is undergoing profound change, and for Africa this moment presents both uncertainty and opportunity.”
The 2026 edition of the forum is being held under the theme “Shaping the Future of Inclusive Finance, Innovation, Impact, Connection,” with discussions focused on digital currency corridors, artificial intelligence driven financial inclusion, open finance ecosystems and climate focused fintech solutions.
Industry leaders also advocated for the adoption of regulatory passporting, a system that would allow a fintech company licensed in one African country to operate in another without undergoing a separate licensing process.
Participants pointed to a pilot programme involving Rwanda and Ghana as an example of how regulatory cooperation could support the creation of a broader digital financial market across the continent.
On the opening day of the forum, MoMo Rwanda Limited announced two partnership agreements aimed at expanding access to digital credit services.
The first partnership, with Ecobank, will introduce mobile based micro loans targeted at small and medium enterprises. The second agreement with Bank of Kigali will establish a fully digital lending system covering the entire process from loan application to disbursement.
Officials say the initiatives are intended to support the country’s transition towards a more digital and cash light financial system.
With Rwanda currently ranked third in Africa on the Global Financial Centres Index, Nsengiyumva said the continent is increasingly positioning itself as an active participant in the evolving global financial system.
Chief Executive Officer of Kigali International Financial Centre, Hortense Mudenge, said the forum aims to ensure that financial innovation delivers tangible economic benefits for ordinary citizens.
She said the goal is to translate new technologies and financial tools into real economic opportunities beyond corporate boardrooms.
Also speaking at the event, Sopnendu Mohanty said international cooperation will be critical to expanding inclusive finance in emerging markets.
“The Inclusive FinTech Forum is where global expertise and emerging market innovation converge,” Mohanty said, adding that collaboration among regulators, investors and technology companies is necessary to accelerate financial inclusion and support sustainable economic growth.
