Mobile money is Africa’s biggest innovation success story — Davies

Africa must take ownership of its own story and boldly project the innovations, businesses and home-grown solutions transforming lives across the continent, Nanatunde Davies, Senior Manager for Enterprise Risk at MobileMoney Fintech Limited (MMFL) Regulatory, Risk and Compliance, has said.

Speaking at the inaugural Communicating Africa Summit in Accra, Ms Davies argued that Africa’s narrative for too long had been shaped by outsiders who focused heavily on poverty, instability and dependence, while overlooking the continent’s achievements, ingenuity and economic transformation.

She said one of the clearest examples of Africa’s progress and innovation is mobile money — a home-grown financial technology success story that has changed millions of lives and redefined financial inclusion across the continent.

“At a time when conversations about Africa are evolving, mobile money stands as proof that Africa is capable of creating practical solutions to African challenges,” she stated during a panel discussion at the summit.

According to her, what was once discussed mainly as a development aspiration has now become an everyday reality for millions of Africans who rely on mobile money platforms to send and receive funds, save, transact and support businesses securely and conveniently.

She noted that mobile money had gone beyond being simply a financial service and had become a powerful economic enabler, especially for underserved populations and informal businesses that were previously excluded from traditional banking systems.

“In many communities, mobile money has moved businesses from cash-heavy operations into digitally enabled enterprises. It has strengthened resilience, expanded opportunities and increased participation in the formal economy,” she explained.

Ms Davies said the success of mobile money demonstrates that Africa is no longer searching for its voice because it has already found it. The responsibility now, she stressed, is for Africans themselves to confidently tell the continent’s story in a truthful and balanced way.

She urged African communicators, journalists, researchers and corporate leaders to focus more on narratives of enterprise, resilience, innovation and progress rather than continually reinforcing outdated stereotypes.

“Africa is not waiting to be defined by others. We are building systems, businesses and innovations that can stand confidently alongside the best in the world,” she said.

She maintained that the rapid growth of mobile money across the continent offers compelling evidence of Africa’s capacity to lead in digital transformation and financial innovation.

Across many African countries, mobile money platforms have become central to commerce, helping individuals and small businesses carry out transactions efficiently while reducing reliance on physical cash. The services have also played a major role in deepening financial inclusion, particularly in rural and underserved areas where access to traditional banking infrastructure remains limited.

Industry analysts have often cited Africa as the global leader in mobile money adoption, with countries such as Ghana, Kenya and Uganda recording significant growth in digital transactions and mobile-based financial services over the last decade.

Ms Davies said such achievements deserve stronger visibility globally and should become central to the continent’s storytelling agenda.

She stressed that Africans themselves are best positioned to tell authentic stories about the continent because they understand both the challenges and the progress being made.

“The African story must be told fully and truthfully — not only through the lens of problems, but through the realities of innovation, growth and transformation taking place every day,” she added.

The inaugural Communicating Africa Summit brought together communicators, journalists, filmmakers, researchers, policy advocates and corporate leaders to deliberate on Africa’s image and the responsibility of African storytellers in shaping new narratives about the continent.

Organisers of the summit said the initiative seeks to become “the leading pan-African platform advancing African voices, narratives and storytellers for global impact and Africa’s progress.”

Other speakers at the summit included veteran public servant and former Chief Executive Officer of the Ghana Chamber of Mines, Joyce Aryee; communications lecturer and researcher, Dr Albert Anani Bossman; Chief Executive Officer of the Ghana Chamber of Telecommunications and the Digital Chamber of Ghana, Silvia Owusu Ankomah; and media scholar, Prof. Audrey Sitsofe Gadzekpo.

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