That was the message from Daniel Mainda, CEO of the Nairobi International Financial Centre Authority (NIFC), speaking at the Kenya Blockchain and Crypto Conference.
Mainda challenged a long-standing narrative that Africa is merely a follower in global technology trends. He said the continent’s real-world innovations, particularly in digital finance, are proof that Africa is already building the future.
Unlike in many developed markets where innovation often begins in labs and boardrooms, Africa’s fintech revolution was born out of necessity.
“In Kenya, if someone tells you they only accept cash, that is the exception—not the norm,” Mainda noted, highlighting how digital payments have become a cultural standard rather than a novelty.
This widespread adoption has positioned Nairobi as one of Africa’s leading innovation hubs, attracting startups, investors and global tech firms.
Mainda said that fragmentation is a critical barrier holding the continent back, fragmentation.
While sending money within Kenya is fast and seamless, cross-border transactions remain slow, expensive and unreliable.
This fragmentation exists across payment systems, capital markets, regulations and liquidity. It creates some inefficiencies that slow down growth and scalability for businesses.
Why Blockchain and Stablecoins Matter
Mainda added that technologies like blockchain and stablecoins are necessary as they address real infrastructure gaps.
Stablecoins can help with faster and cheaper cross-border transactions. On the other hand, blockchain can improve trust, transparency and traceability.
These could help reduce the friction that is currently experienced in cross-border trade, remittances and business operations.
According to Mainda, the goal is to build a secure, transparent and globally competitive ecosystem and not stifle innovation. This includes collaboration between key institutions.
Mainda also issued a clear warning that Africa must move beyond discussions and into execution.
“We are very good at conferences and task forces,” he said, urging stakeholders to focus on building real solutions.
The next phase of Africa’s fintech evolution, he argued, must prioritize practical regulation, interoperability between systems, institutional participation and continental collaboration.
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Also Read: Kenya Blockchain Conference: Fintech Leaders Say Africa Is Moving Toward Near-Zero Payment Fees
