Financial technology (fintech) innovation must go beyond creating new tools and instead deliver tangible economic opportunities for people and businesses, said Hortense Mudenge, the Chief Executive Officer of the Kigali International Financial Centre (KIFC) on March 11.

Speaking at the official opening of the Inclusive Fintech Forum, Mudenge, said the next phase of financial innovation should focus on building systems that work for the real economy.

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Fintech has already transformed how people access financial services, particularly through mobile payments and digital platforms. However, she stressed that the future of financial innovation should not be judged solely by the speed of technological development, but by the real impact it has on expanding economic opportunity and improving people’s livelihoods.

"Across the continent, fintech innovation is reshaping how people save, invest, transact and build businesses. The next chapter should be about building systems that work, financial innovation must translate into real economic opportunity for people, for businesses and for nations,” Mudenge said.

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The chief executive highlighted that innovation should help bridge gaps for millions of people who remain underserved by traditional financial systems, particularly in developing markets.

"Beyond the numbers, what truly matters is the spirit of collaboration where capital meets opportunity, innovation aligns with regulation, and ambition grows through partnership,” she noted.

Mudenge highlighted that Rwanda has positioned itself as a testing ground for financial innovation, with policymakers promoting frameworks that allow capital to flow efficiently, transparently, and responsibly.

Soraya Hakuziyaremye, the Governor of the National Bank of Rwanda (BNR), said that strong leadership, regulatory cooperation and deeper partnerships will be critical in shaping Africa’s digital financial future.

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"The future of finance is already here, but the key question now is whether financial institutions and regulatory frameworks are prepared for the next wave of innovation,” she said.

More than 75 per cent of adults worldwide now have access to a financial account, up from about half of the global population a decade ago. Sub-Saharan Africa remains the global leader in mobile money adoption, with more than 600 million registered accounts and continued growth in digital payments.

"These are not just statistics. They represent farmers, traders, women and young people whose financial wellbeing has improved through greater access to financial services,” said Hakuziyaremye.

Rwanda has also made progress in expanding financial inclusion, increasing access to financial services from 21 per cent in 2008 to about 92 per cent of adults today, she said. However, more work is needed to ensure households and businesses achieve financial resilience.

Hakuziyaremye pointed to the newly launched National Financial Inclusion Strategy 2026–2030, which aims to deepen financial access and strengthen the country’s financial ecosystem.

"Achieving the next stage of financial transformation will require stronger regulatory coordination across African markets,” she said, adding that this includes building interoperable cross-border payment systems, supporting digital assets, and leveraging artificial intelligence to deliver affordable and secure financial services.

During a roundtable discussion of central bank governors held alongside the forum, regulators agreed on the urgency of strengthening collaboration across the continent to balance innovation with financial stability and monetary sovereignty.

"No single institution and no single country can do this alone; partnerships forged during the forum could shape the future of Africa’s financial systems. The goal is to build a financial ecosystem that is inclusive, innovative and globally competitive,” she said.

The forum, which has attracted more than 3000 people, is expected to explore how digital public infrastructure can support economic growth and how new financial technologies can unlock opportunities for entrepreneurs and small businesses across Africa, among other things.