African fintech companies are changing the way business gets done, making B2B payments faster, simpler, and more accessible for small and medium-sized enterprises. With mobile-first tools and digital credit options, these innovators are helping businesses sidestep traditional banking hurdles and trade more easily across borders. By cutting transaction costs and boosting efficiency, they’re also laying the groundwork for stronger economic ties across the continent. As we mark Africa Month this May, fintech leaders point to a future where Africa sets the pace in building inclusive, tech-enabled financial systems.
Harry Scherzer, CEO of Future Forex says African fintech is no longer a rising force, it’s a transformative one. Intelligent, tech-enabled solutions remove friction from high-value business transactions, especially cross-border payments. By bypassing outdated banking infrastructure and leveraging regulatory expertise, fintechs offer businesses here and abroad faster, cost-effective international money transfers. This doesn’t just improve bottom lines, it opens doors for everyone from corporations to startups and entrepreneurs to trade more competitively and scale beyond borders.
“What’s most exciting is the shift towards inclusion; fintech is extending financial services to those traditionally overlooked by banks, enabling them to participate in the digital economy. It’s clear that fintech holds the key to more simplified trade, economic growth and global relevance through innovation that’s both homegrown and globally competitive.”
From Johannesburg to Lagos, Accra to Nairobi, fintechs are empowering informal traders, freelancers and startups to participate in the formal economy.
“Financial service providers must understand the nuanced financial needs of Africa’s population,” says Zama Ndlovu, Group Head of Corporate Communications and Marketing at Onafriq. Ndlovu adds that “systematic exclusion affects small businesses in sectors like manufacturing, which hold massive potential for the social upliftment of workers across countries. Across borders, many vendors are women and children who run small trading businesses. Cash is a vital lifeline for them, but access to formal and safe financial services could also give these small businesses better security and access,” adds Ndlovu.
Building the continent’s tech and digital capability needs to run parallel with skills development, says Linda Saunders, Salesforce Country Leader and Senior Solutions Engineer for Africa. “The World Bank estimates that by 2050, half of Africa’s population of 1 billion will be under the age of 25, suggesting that the workforce of the future is based here. But to effectively harness the potential of this workforce we need to ensure we’re training, developing and upskilling people in a relevant and sustainable way,” says Saunders.
The Salesforce Authorised Training Partner and Workforce Development Partner in South Africa is committed to bringing fit-for-purpose skills into the ecosystem to meet the demands of the future workplace. And partnerships are central to reaching these objectives.
“Indeed, if Africa is to realise its ambitions of being a global tech hub, it is imperative that all the various stakeholders – government, business, civic organisations and education institutions – work collaboratively. Business is a platform for change and thus has a central role to play in Africa’s tech future,” adds Saunders.
Andre van den Berg, Director Banking and Finance at CMS South Africa, concludes by saying, “One of the most exciting shifts we are seeing in Africa’s business landscape is the role fintech is playing in reshaping how companies transact. These platforms are doing more than just moving money, they’re opening access.”
van den Berg adds that “for many small businesses, especially those operating informally or across borders, traditional banking has never really worked. Now, mobile-first tools are giving them access to faster, safer and more cost-effective ways to do business, often for the first time. Working closely with fintech clients, we’ve seen how these innovations are creating real economic momentum, from city hubs, like Nairobi, to smaller trading communities. What stands out is how African companies are solving African problems, in ways that are both practical and scalable. There’s a growing sense that the continent is not waiting to be included, it’s actively building its own inclusive financial systems, on its own terms.”
African fintech stands out as a powerful engine for inclusive growth and economic transformation. By addressing real-world challenges with scalable, tech-driven solutions, these companies are not only rewriting the rules of business, they’re shaping a future where financial access, efficiency, and opportunity are within reach for all. The message is clear, Africa isn’t just catching up, it’s setting the pace.
