By: Nana
Appiah Acquaye
The
Group Chief Executive Officer of MTN Group, Ralph Mupita, has signalled a major
transition in Africa’s digital financial ecosystem, noting a gradual shift from
USSD-based services to smartphone-driven, app-based financial platforms.
He made
the remarks during a fireside chat at the 2026 3i Africa Summit where industry
leaders gathered to discuss the future of digital finance on the continent.
Mr.
Mupita indicated that Africa’s financial services landscape is undergoing a
structural transformation, moving beyond basic mobile money transactions to
more advanced, technology-enabled financial ecosystems. “We are in the middle of a transformation for
digital finance. Historically,
this has been driven by USSD-based services on 2G devices. But going forward,
we will see a shift toward smartphone-driven, app-based digital finance
experiences.”
He
explained that while USSD and feature phone-based services played a critical
role in expanding financial inclusion across Africa, the next phase will be
defined by richer, more integrated digital platforms.
“The
next wave of financial services will be app-based, more intelligent, and more
integrated. We will
see more digital lending, more seamless payments, and a broader ecosystem that
includes remittances, embedded finance, and emerging technologies.”
He added
that the growing penetration of smartphones across African markets will
accelerate the shift, enabling more users to access advanced financial services
beyond basic transactions.
According
to him, this evolution represents a critical step toward building a more
inclusive and efficient digital financial system across the continent.
Mr. Mupita
also emphasised the importance of strong regulatory frameworks, consumer
protection, and innovation-friendly environments to support this transition. “The key is ensuring that innovation is matched
with trust and regulation that is clear and forward-looking,” he noted.
The 3i
Africa Summit, was held from
May 6 to May 8 in Accra, and hosted by the Bank of Ghana (BoG) in
partnership with the Ghana Interbank Payment and Settlement Systems (GhIPSS)
and the Global Finance & Technology Network (GFTN) and sponsored by
MobileMoney Fintech LTD. The summit was
focused on “The
Next Frontier: Shaping Africa’s Integrated FinTech Future.”
It
brought together policymakers, regulators, fintech leaders, and investors to
explore how Africa can scale digital financial innovation while strengthening
trust, inclusion, and cross-border connectivity.
