KIGALI, Feb. 25 (Xinhua) -- Delegates attending the second edition of the Inclusive FinTech Forum (IFF) held in the Rwandan capital of Kigali have called for stronger cooperation to accelerate Africa's digital financial transformation.

The IFF runs from Monday to Wednesday, featuring expert panel discussions, policy dialogues, and networking sessions to promote financial inclusion and unlock the full potential of Africa's digital economy.

Speaking at the formal opening on Tuesday, Rwandan President Paul Kagame highlighted Africa's growing financial technology (fintech) ecosystem and its potential to compete on a global scale.

"Indeed, with our continent's young and tech-savvy population, Africa can compete with the rest of the world and successfully innovate. When you look at our continent's startup ecosystem, fintechs continue to dominate," Kagame said.

He noted that the number of fintech companies in Africa has nearly tripled in recent years, reshaping the financial services sector. However, he emphasized the importance of local ownership in driving sustainable development.

"Taking ownership of our development is not something we can ask others to do for us. Business founders must play their part and gain the confidence of investors. The bottom line is that we need to work as one team to build a more connected future," the Rwandan president added.

Speaking at the forum, Alvin Tan, Singapore's minister of state for both the Ministry of Trade and Industry and the Ministry of Culture, Community and Youth, echoed Kagame's sentiments, stressing the need for regional cooperation to bridge infrastructure gaps and harmonize regulations.

"In an increasingly fragmented world, we have the opportunity to build bridges, address infrastructure gaps, harmonize regulations, and work together across borders and sectors," Tan said, highlighting fintech's potential to transform Africa's financial landscape, making it more inclusive, efficient, and resilient.

Wamkele Mene, secretary general of the African Continental Free Trade Area (AfCFTA) Secretariat, emphasized that the forum aligns with AfCFTA's mission to accelerate technology adoption for economic inclusion.

"Africa is rapidly emerging as a global fintech hub, showcasing record growth and promising future potential. With a 32 percent compound annual growth rate, the continent is set to become the fastest-growing region in fintech revenue. By 2030, Africa's fintech market is expected to reach approximately 65 billion U.S. dollars," Mene said.

He added that Africa must build on its momentum to ensure that all countries evolve into financial technology hubs, fostering inclusive growth and digital financial inclusion.

Nick Barigye, chief executive officer of Rwanda Finance Limited, reaffirmed Rwanda's commitment to creating an agile and forward-looking financial ecosystem through the Kigali International Financial Center.

"Financial inclusion is not just a goal; it is a responsibility. Together, we have the power to create a future where financial services are accessible, dependable, affordable, and empowering to all," Barigye said, urging investors to tap into opportunities in Rwanda and across the region.

A key highlight of the forum was the signing of Africa's Next-Gen Digital Payment Infrastructure, also known as Project 54. John Rwangombwa, governor of the National Bank of Rwanda, participated in the signing ceremony, which aims to establish a continent-wide digital payment system based on a solid public infrastructure framework.

The forum, which has attracted more than 2,500 global and regional delegates, including policymakers, investors, and industry leaders, aims to advance fintech-driven financial inclusion and economic integration. Enditem

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