The Group CEO of MTN Group, Ralph Mupita, has signalled a major transition in Africa’s digital financial ecosystem, noting a gradual shift from USSD-based services to smartphone-driven, app-based financial platforms.

He made the remarks during a fireside chat at the 2026 3i Africa Summit, where industry leaders gathered to discuss the future of digital finance on the continent.

Mr. Mupita indicated that Africa’s financial services landscape is undergoing a structural transformation, moving beyond basic mobile money transactions to more advanced, technology-enabled financial ecosystems.

“We are in the middle of a transformation for digital finance. Historically, this has been driven by USSD-based services on 2G devices. But going forward, we will see a shift toward smartphone-driven, app-based digital finance experiences.”

He explained that while USSD and feature phone-based services played a critical role in expanding financial inclusion across Africa, the next phase will be defined by richer, more integrated digital platforms.

“The next wave of financial services will be app-based, more intelligent, and more integrated. We will see more digital lending, more seamless payments, and a broader ecosystem that includes remittances, embedded finance, and emerging technologies.”

He added that the growing penetration of smartphones across African markets will accelerate the shift, enabling more users to access advanced financial services beyond basic transactions.

According to him, this evolution represents a critical step toward building a more inclusive and efficient digital financial system across the continent.

Mr. Mupita also emphasised the importance of strong regulatory frameworks, consumer protection, and innovation-friendly environments to support this transition. “The key is ensuring that innovation is matched with trust and regulation that is clear and forward-looking,” he noted.

The 3i Africa Summit, was  held from May 6 to May 8 in Accra, and hosted by the Bank of Ghana (BoG) in partnership with the Ghana Interbank Payment and Settlement Systems (GhIPSS) and the Global Finance & Technology Network (GFTN) and sponsored by MobileMoney Fintech LTD. The summit was focused on “The Next Frontier: Shaping Africa’s Integrated FinTech Future.”

It brought together policymakers, regulators, fintech leaders, and investors to explore how Africa can scale digital financial innovation while strengthening trust, inclusion, and cross-border connectivity.