Prime Minister Justin Nsengiyumva has called on African countries to develop financial systems they control, saying this will be critical to the continent’s economic independence as global financial systems evolve. He said this on March 11, while opening the second day of the Inclusive FinTech Forum 2026 in Kigali, which brought together leaders from across Africa’s financial technology ecosystem to discuss the future of inclusive finance. ALSO READ: How stablecoins, CBDCs could reshape Africa’s digital finance “In this new era, questions around digital sovereignty, decision-making and critical data governance are no longer very technical matters. They are strategic priorities that will determine our resilience, competitiveness and our economic independence in an evolving global financial model,” he said. The Prime Minister said Africa has historically operated on the margins of global finance, often facing high risk premiums and limited access to capital, but noted that current global shifts present an opportunity for the continent to rethink its financial systems. “At the same time, Africa cannot and should not attempt to build financial sovereignty on rails it does not control.” He noted that financial technology is playing a growing role in expanding access to finance and supporting economic participation across the continent. ALSO READ: Banks, fintechs, telecoms partner to expand financial access in Africa Citing Rwanda’s progress, Nsengiyumva said 92 per cent of adults in the country now have access to financial services, reflecting the steady growth of the country’s fintech ecosystem. However, Nsengiyumva acknowledged that several challenges still persist across Africa’s financial landscape. “Access to affordable capital remains limited, cross-border payments are still costly and slow, and regulatory fragmentation continues to raise transaction risks and costs of doing business,” he said. “African innovators continue to demonstrate that solutions that are developed here, from mobile payments to digital identity systems, can not only solve global challenges, but also can shape global financial systems,” he added. According to the premier, Rwanda is taking steps to regulate emerging digital markets, including a forthcoming law on virtual asset businesses that aims to promote responsible growth and provide economic certainty for investors and consumers. ALSO READ: What to know about new draft law on virtual assets Soraya Hakuziyaremye, Governor of the National Bank of Rwanda (BNR), noted that fully harnessing virtual assets and services, strengthening interoperable cross-border payment infrastructures, and leveraging AI to provide affordable, secure, and fast services will require stronger regulatory alignment across African markets. “No single institution, no single country can do this alone, and the partnerships we build during this Inclusive FinTech Forum will determine the scale of tomorrow's impact,” she said. Haytham El Maayergi, Executive Vice President at African Export-Import Bank (Afreximbank), said inclusive finance is not just a social good, but “a very important engine of Africa's future.” “Digital transformation cannot thrive in thin air. It requires a harder foundation, ruled by data centers, reliable energy, and requires a strong foundation,” he added. He stressed that African countries must collaborate, moving from isolated systems to a unified digital continent.
