How Fintech CEOs Can Navigate Global Fintech Landscape

At the CEO breakfast held on the sidelines of the Africa Fintech Festival, fintech leaders converged to discuss strategies for navigating the global fintech landscape. The breakfast session, featuring key industry voices, underscored the importance of standardization and collaboration in driving the sector’s growth across the continent.

Esther Masese Waititu, Chief Financial Services Officer, at Safaricom emphasized the need for “One API standard, not one API,” advocating for a universal standard that would enable a variety of use cases and foster seamless integration across different platforms. “This will allow for different organisations with use cases build solutions that suit their clients,” Masese explained, highlighting the flexibility and scalability that a single standard could bring to the fintech ecosystem.

Dr. Patrick Saidu, CEO of the Africa Fintech Network, echoed the sentiment, stressing the necessity of a unified framework for digital payments. “We need to present Africa as one platform,” Dr. Saidu stated, emphasizing the need for a cohesive approach to digital payments that would enhance interoperability and inclusivity. He further called for the development of standards that harmonize the digital payments environment in Africa, ensuring a consistent and compatible technological infrastructure.

The conversation also turned towards growth and inclusivity within the fintech sector. “How do we make the pie bigger for everyone?” Masese posed, pointing to the importance of expanding the fintech ecosystem to benefit all stakeholders. This sentiment was reinforced by Kamau Kunyiha of Credit Info, who highlighted the untapped opportunities within the sector. “There is so much untapped opportunity. We need to leverage everyone’s rails,” Kunyiha remarked, urging for the utilization of existing infrastructure and resources to maximize growth.

The CEO breakfast session resonated deeply with the festival’s broader theme of innovation and collaboration, aiming to position Africa as a significant player in the global fintech arena. As the Africa Fintech Festival continues in Naivasha, these insights are expected to drive further 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 significant strides on the global stage.