Regulators should be trained to understand and manage complex fintech innovations, ensuring that oversight keeps pace with technological progress. [iStockphoto]

East Africa has long been celebrated as a beacon of innovation in the global fintech landscape.

The region’s ascent has been driven by the same key disruptions reshaping the financial services industry worldwide such as the use of alternative data, peer-to-peer transactions and the rise of non-traditional financial players.

But what truly sets East Africa apart is its unique combination of strong mobile and internet penetration among underserved populations and the gaps in traditional financial services. These factors have enabled fintechs to offer solutions that meet critical needs across lending, savings and payments.

East Africa is also home to some of the continent’s fastest-growing economies, with projections placing regional growth at 5.1 per cent in 2024 and 5.7 per cent in 2025. Yet, despite this progress, the financial inclusion gap persists and fintech holds the key to bridging it.

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