By Akeem Lawal
In recent years, discussions on financial inclusion in West Africa have predominantly centered on expanding access—to mobile wallets, digital banking platforms, and payment channels. This focus is well justified, as access remains the critical foundation for broader financial empowerment. But as we look to the future, the question must evolve: How do we go beyond access to creating real, measurable impact in people’s lives and economies?
Fintech has made remarkable strides across the sub-region, bridging divides that once felt insurmountable. From enabling micro-traders to transact without cash, to powering cross-border remittances and expanding digital lending, innovation has undeniably reshaped how financial services reach the underserved. Yet, access alone is no longer enough.
Inclusion That Transforms, Not Just Transacts
True financial inclusion should mean more than onboarding users to platforms. It should translate into tangible improvements in their economic well-being. This calls for solutions that are not only innovative but also intuitive, affordable, and designed with the realities of users in mind.
For instance, what happens after a rural farmer opens a wallet, can she insure her crops, access credit without a formal credit history, build financial resilience against shocks? These are the next frontiers. And they require a coordinated ecosystem approach, with fintechs, regulators, and policymakers pulling in the same direction.
The Rise of Localised Innovation
We are also witnessing the rise of homegrown fintech solutions that are uniquely designed for African markets. This is particularly exciting because it moves us away from copy-paste models and into truly contextual innovation.
Innovations such as alternative credit scoring leveraging telco data, embedded insurance within digital payment platforms, and intelligent agent networks demonstrate remarkable ingenuity. Equally compelling is the potential to scale these solutions across borders, amplifying their impact throughout the region.
Collaboration: The Key to What Lies Ahead
As West Africa enters a new phase of fintech maturity, collaboration is no longer optional, it is essential. From interoperability frameworks to open banking models and regional payment systems like the Pan-African Payment and Settlement System (PAPSS), the groundwork is being laid for a more connected and efficient ecosystem.
This rising momentum underscores the critical role of forums that unite key stakeholders across the region. Such platforms foster meaningful dialogue, spark innovative ideas, and cultivate strategic partnerships essential for driving sustained progress.
Seizing the Moment
There is no doubt that West Africa stands at a pivotal moment. We have proven that digital financial services can break long-standing barriers, but now we must prove that they can build bridges—to wealth creation, to economic participation, and to inclusive growth, and a better standard of living for all.
Cross-border engagement and shared learning are now more critical than ever. One key gathering that embodies this spirit is the Sierra Leone Fintech Forum 2.0, which will be taking place June 5, 2025, at New Brookfields Hotel, Jomo Kenyatta Road, Freetown. Hosted by Interswitch in partnership with the Bank of Sierra Leone, the forum will bring together fintech leaders from across West Africa to explore the theme, “Access, Inclusion and Growth – Deepening Digital Payments in Sierra Leone.”
At a time when fintech is fast becoming the infrastructure behind regional commerce and inclusion, such forums offer a unique opportunity to align strategies, share insights, and co-create solutions that work and scale. And if we can move beyond access toward real, sustained impact, then financial inclusion can become one of West Africa’s most powerful engines for sustainable progress.
Akeem Lawal is the Managing Director, Payment Processing and Switching at Interswitch. He leads the company’s initiatives in building robust, future-forward payment infrastructu
re across Africa.
