The Head of Strategy and Enablement at Stanbic Bank, Darwin Mireku, has called for a more balanced approach to digital lending across Africa.

Speaking at the 3i Africa Summit 2026, he stressed that sustainability and positive customer outcomes must remain at the centre of financial innovation.

During a panel discussion on the topic, “Access vs Protection: The Next Chapter of Financial Health in Africa,” Mr Mireku said the rapid growth of digital credit services across the continent presents both significant opportunities and emerging risks that industry players must address collectively.

According to him, expanding access to credit should not be the sole measure of success for financial institutions and fintech platforms operating in Africa’s evolving digital finance landscape.

“We all understand the importance of access to financing for economies like ours. However, as the industry evolves, better customer outcomes must become central to what we do instead of simply increasing access to credit,” he said.

Mr Mireku warned that irresponsible lending practices, particularly in the informal sector, could create long-term financial distress for consumers and expose the broader financial ecosystem to systemic risks.

He cited concerns about customers taking multiple loans simultaneously through digital platforms without adequate assessments of their repayment capacity or income streams.

“If situations where individuals hold numerous loans at the same time are not managed responsibly, it eventually translates into debt pressure. Over time, that can create risks not only for customers, but for the wider financial system.”

He noted that Africa’s financial ecosystem is changing rapidly, driven largely by fintechs, digital banks, and other emerging financial platforms that are creating access opportunities for previously underserved populations.

“Banks were not always structured to profitably deploy very small loan amounts across large customer groups. What fintechs and digital lenders have done is to create entirely new markets that did not previously exist,” he said.

Mr Mireku rejected the notion that fintechs are simply taking market share away from traditional banks, arguing instead that they are expanding the financial ecosystem and introducing services that address gaps banks had not fully catered for.

He also admitted that fintech companies have significantly improved customer experiences by reducing friction, simplifying onboarding, and designing platforms that better align with customers' lifestyles and digital habits.

Despite these advancements, Mr Mireku emphasised that banks continue to play a critical role in the financial sector due to their strong capital structures, regulatory oversight, and customer trust.

“When a bank takes on credit risk, and things go wrong, the institution must absorb those losses through its capital. That regulatory responsibility and credibility remain very important.”

He therefore called for stronger collaboration between banks and fintechs to create a more resilient and inclusive financial ecosystem across Africa.

According to him, fintechs bring innovation, speed, and customer-focused experiences, while banks contribute financial strength, governance, long-term financial products, and institutional stability.

“It should not be about who is winning. The objective should be how we collectively build a stronger ecosystem that benefits customers and supports sustainable financial inclusion.”

Mr Mireku further stressed that financial inclusion extends beyond access to credit alone. He explained that long-term financial health also depends on customers gaining access to savings products, investments, insurance, and other structured financial solutions.

He added that partnerships between banks and digital lenders can help nurture customers who begin their financial journeys on digital platforms and gradually integrate them into broader formal banking systems.

He also urged regulators to evolve alongside technological innovation to ensure that consumer protection frameworks remain effective as digital finance expands.

“The pace of innovation is moving very quickly. Regulation must continue to evolve in a way that protects customers while still allowing innovation to thrive.”