The driver of brain drain of African talents in the tech industry is not merely a compensation issue, but also conducive work environment, skillset incentives, and career growth opportunities, experts have said.
This issue was addressed during a panel discussion on "Bridging the Funding Gap: Building Private Capital and Leveraging Development Finance” as part of the Inclusive Fintech Forum 2025.
The second edition of the forum, which brought together over 3,000 participants that started February 24 to 26, featured various discussions aimed at drawing actionable steps to address growth bottlenecks of African fintech industry to drive desired digital economy.
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Africa's fintech sector has shown resilience, attracting significant investment and global interest, with a revenue forecast of $40 billion by 2028. Despite this projection, President Paul Kagame pointed at a pressing issue: the continent is experiencing a brain drain of Africa’s talents.
Something he says, is partly blamed on African leaders and not entirely the tech professionals’ problem.
Brain drain in the tech industry refers to the concept where highly skilled tech professionals from African countries migrate to other regions, typically in the West, for better career opportunities, leading to a shortage of talent within the African tech sector, hindering innovation and development on the continent.
Jean Guy Africa, CEO of Rwanda Development Board, said that while salaries and compensation matter, the bigger aim should be creating the right living conditions for the professionals that they can thrive in, meaning governance that sets access to good healthcare, affordable and quality shelter, peace and security, for them to find compelling reasons to stay in their country.
He added that the young generation is attracted to being a part of a solution-oriented environment such that fintech innovations are able to tackle societal problems through shared purpose and value.
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Sahr Kpundeh, World Bank Rwanda Country Director, is of the view that addressing Africa’s brain drain should comprise deliberate actions to incentivize innovators through partnerships with global companies that allows upskilling and eventually use of their skillset in their home countries.
Additionally, he noted that a favorable environment that provides for career growth is key because young people are always seeking opportunities and exposure which bring their skillsets to the next level.
According to Lacina Koné, Director General and CEO of SmartAfrica Secretariat, when addressing the different hindrances to digital transformation in Africa, leaders and regulators should remember that the important element is to nurture innovation over qualification.