The Innovators 2026: Africa

Why It Matters

The surge in mobile‑driven banking and AI tools is unlocking financial services for Africa’s unbanked, catalysing economic growth and attracting global investment in the continent’s fintech ecosystem.

Key Takeaways

• Africa hosts half of global mobile accounts, driving digital payments
• RMB’s API gateway enables modular, cross‑functional banking solutions
• MNT‑Halan’s Halan Card reached 1 million users, $15 bn loan volume
• AI credit‑scoring bridges thin‑file consumers to formal finance
• Omnichannel strategies unify mobile, web, and physical banking services

Pulse Analysis

Africa’s financial landscape is undergoing a rapid digital transformation, propelled by a paradoxical mix of high mobile penetration and deep banking exclusion. Although roughly 60 % of the continent’s 1.4 billion people remain unbanked, the region accounts for about half of the world’s mobile subscriptions and generated more than 70 % of the growth in registered mobile accounts in 2023, according to the GSMA. This mobile base has become the conduit for real‑time payments, allowing consumers to bypass cash‑heavy transactions that are costly, risky, and logistically cumbersome.

Banking innovators are capitalising on this momentum. South Africa’s RMB has built a modular API gateway that stitches together corporate transactional services, marketplace liquidity solutions and employee‑banking platforms, creating a single entry point for partners and clients. In Egypt, fintech MNT‑Halan has issued the Halan Card to over one million users and disbursed more than $15 bn in loans, while its AI‑driven credit‑scoring engine leverages alternative data to serve thin‑file borrowers. Meanwhile, Commercial International Bank’s revamped mobile app now bundles digital wallets, BNPL, and instant card controls, illustrating how legacy banks are embracing omnichannel experiences.

The convergence of mobile ubiquity, AI, and open‑banking APIs is reshaping financial inclusion across Africa. By lowering the cost of entry for both consumers and small businesses, these innovations unlock new sources of liquidity and stimulate informal‑to‑formal economic migration. For investors, the scaling of platforms like MNT‑Halan—backed by the EBRD and IFC—signals a robust pipeline of venture‑grade opportunities. Regulators, however, must keep pace with cybersecurity and data‑privacy challenges that accompany AI‑enabled credit models. In the next five years, the continent is likely to leapfrog legacy infrastructure entirely, positioning Africa as a global hub for mobile‑first banking.