This region wants to build Africa's most connected fintech ecosystem

It was a sweltering summer day in Abidjan, Côte d'Ivoire, when the Pullman Hotel played host to a pivotal conference for the region's fintech ecosystem. The event, Catapult: Inclusion Africa, was a brainchild of the Luxembourg House of Financial Technology (LHoFT) and its Catapult program, which has been replicated in Southeast Asia. This gathering, supported by the Luxembourg government, the Agency for Development Cooperation (LuxDev), the Central Bank of West African States (BCEAO), the Interbank Group of the West African Economic and Monetary Union (GIM-UEMOA), the African Development Bank (BAD), Appui au Développement Autonome (ADA), the Fintech Association of Côte d'Ivoire, and several Luxembourg-based development and finance institutions, brought together regulators, investors, and founders to discuss one pressing question: how to build a fintech sector that's both inclusive and financially sustainable across the eight countries of the West African Economic and Monetary Union (UEMOA).

The conference's opening panel, moderated by the BCEAO and GIM-UEMOA, set the tone for the event. These two key players in the region's payment infrastructure highlighted the importance of regulation as a foundation, rather than an obstacle, for the fintech sector. This approach resonated with the panel's attendees, who recognized the urgent need to revamp the region's financial plumbing, serving a market of over 150 million people. This shared understanding marked a significant departure from the typical professional gatherings, instead, it felt like a collaborative work session aimed at rebuilding the region's financial infrastructure.

The conference's focus on building a fintech ecosystem that's inclusive and financially sustainable has sparked excitement among stakeholders. This vision is driven by the recognition that fintech has the potential to bridge the financial divide in the region, particularly for underserved communities. By harnessing technology, the sector can provide access to financial services, facilitate economic growth, and create jobs. The UEMOA region's commitment to this vision is likely to attract investors, entrepreneurs, and talent from across the continent.

The success of Catapult: Inclusion Africa is evidence of the growing appetite for fintech innovation in Francophone West Africa. The region's financial sector is poised for transformation, driven by the convergence of regulatory support, technological advancements, and a growing entrepreneurial spirit. As the conference demonstrated, the region's stakeholders are working together to build a fintech ecosystem that's both inclusive and financially sustainable. This collaborative approach has the potential to create a new fintech frontier in Africa, one that's driven by the needs and aspirations of the region's people.

• The Catapult: Inclusion Africa conference was hosted by the Luxembourg House of Financial Technology (LHoFT) in partnership with the BCEAO, GIM-UEMOA, and other regional and international stakeholders.
• The conference brought together regulators, investors, and founders to discuss the development of a fintech sector that's inclusive and financially sustainable across the UEMOA region.
• The region's fintech ecosystem has the potential to bridge the financial divide, facilitate economic growth, and create jobs.

As a writer, I am struck by the significance of this conference and the opportunities it presents for the UEMOA region. The region's commitment to building a fintech ecosystem that's inclusive and financially sustainable has the potential to transform the lives of millions of people across the region. With the right support and collaboration, Francophone West Africa could become the next fintech frontier in Africa, one that's driven by innovation, entrepreneurship, and a shared vision for a more prosperous future.