Why East Africa fintech must move from access to outcomes

Speaking at the East Africa Investment Forum 2026, Bank of Tanzania Director of Financial Deepening and Inclusion Kennedy Komba said the sector is at a turning point, with progress now defined by outcomes rather than uptake.

“The real question is no longer whether people can access these tools, but whether they are improving daily lives,” he said.

Mr Komba outlined three priorities shaping the next phase of fintech development.

First, he said the sector must deepen its impact by supporting small businesses, helping households manage financial shocks and strengthening long-term financial stability.

Second, he stressed the need to rebuild trust, noting that concerns over fraud, hidden charges and predatory digital lending have eroded user confidence.

He said stronger regulation, transparent pricing and improved financial literacy would be critical in restoring trust and encouraging sustained usage.

Third, he called for closer regional collaboration, pointing to fragmented regulatory frameworks and limited interoperability as barriers to cross-border trade and investment.

“Aligning regulations, investing in shared digital infrastructure and improving payment system integration will be essential to unlocking the full potential of fintech across East Africa,” he said.

Mr Komba added that although the region has laid a strong foundation for a dynamic digital financial ecosystem, the next phase will require linking these systems into an integrated network capable of supporting trade, resilience and shared prosperity.

Echoing the call for collaboration, Tanzania Fintech Association representative Cynthia Ponera said partnerships will be central to shaping the sector’s future.

“Stakeholders must go beyond financial contributions and become active partners in driving innovation and dialogue. This is what will unlock the next phase of our region’s economic growth,” she said.

Meanwhile, Vodacom Tanzania Director of Corporate Affairs and the Vodacom Tanzania Foundation Zuwena Farah highlighted the importance of infrastructure and supportive policy in sustaining the digital economy.

She cautioned against overtaxing the sector, urging policymakers to nurture it as a key driver of growth.

“Infrastructure is the backbone of the digital economy. The towers we build, the fibre we lay, the data centres, cloud platforms and payment rails are the roads and bridges of the 21st century,” she said.

Reflecting on the evolution of mobile money, she pointed to the launch of M-Pesa nearly two decades ago as a milestone that demonstrated the transformative power of purpose-driven technology.

Today, she said, the ambition has expanded beyond access, with operators focusing on delivering meaningful economic transformation across the region.