Chief Executive Officer of MTN Group, Ralph Mupita, has signaled a major shift in Africa’s digital finance landscape, declaring that the continent is gradually moving beyond USSD-based mobile money services toward smartphone and app-driven financial ecosystems.
Speaking at the 3i Africa Summit in Accra, Mupita said the next phase of financial inclusion in Africa would be powered by increasing smartphone adoption, enabling users to access more advanced and integrated financial services.
“We are in the middle of a transformation for digital finance,” he stated.
According to him, while USSD and feature-phone services played a critical role in expanding financial access across Africa, the future of digital finance will revolve around smarter platforms capable of supporting digital lending, seamless payments, remittances, and embedded financial services.
Mupita explained that rising smartphone penetration across African markets is creating opportunities for millions of users to move beyond simple cash transfers and mobile wallet transactions into broader digital financial experiences.
He also stressed the importance of strong regulatory systems and consumer protection measures to ensure innovation develops alongside trust, security, and responsible oversight.
The summit brought together policymakers, regulators, fintech companies, investors, and technology leaders to discuss Africa’s evolving financial technology ecosystem and strategies for deeper continental integration.
The event was hosted by the Bank of Ghana, Ghana Interbank Payment and Settlement Systems (GhIPSS), and the Global Finance & Technology Network (GFTN).
MobileMoney LTD, an MTN Ghana subsidiary with more than 17 million registered users, sponsored the summit.
Industry players at the forum noted that Africa’s digital finance sector is entering a new stage where mobile connectivity, fintech innovation, and regulatory coordination are expected to shape the continent’s future financial systems and economic growth.
