International Finance Corporation has called for stronger investment in digital infrastructure and deeper public-private partnerships across Africa, warning that fragmented systems could undermine the continent’s economic transformation.
Speaking at the 3i Africa Summit in Accra, Nathalie Kouassi-Akon, IFC divisional director for West Africa’s Gulf of Guinea region, said Africa’s future growth depends on the creation of interconnected digital systems capable of supporting trade, finance and innovation across borders.
“If Africa does not address fragmentation, we risk scaling silos instead of scaling growth,” she said. “We risk having innovation without productivity and access without prosperity.”
Kouassi-Akon said digital integration had become essential to Africa’s competitiveness, citing the need for interoperable payment systems, digital identity platforms, secure data-sharing frameworks and affordable internet access.
She noted that while many African countries have made progress in digital finance and mobile payments, businesses still face major obstacles when trying to expand across borders because of differing regulations and disconnected systems.
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“Integration is the economic shift that transforms digital finance into continental growth,” she said.
The IFC official also highlighted the region’s large infrastructure financing gap, saying sub-Saharan African governments currently fund nearly 90 percent of infrastructure projects using domestic resources, placing significant strain on public finances.
She argued that Africa’s digital transition would require broader investments not only in connectivity, but also in electricity supply, cybersecurity, institutional capacity and digital skills training.
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Kouassi-Akon stressed that trust and governance remain critical to successful digital ecosystems, warning that citizens and investors would only adopt digital platforms if systems are transparent, secure and reliable.
She called for stronger cooperation between governments and private investors, saying the scale of Africa’s digital infrastructure needs cannot be met through public financing alone.
“The private sector brings capital, technology, innovation and operational expertise,” she said.
The IFC, which focuses on private-sector development in emerging economies, has invested more than $9.6 billion in digital infrastructure projects globally over the past decade, according to Kouassi-Akon.
She pointed to a recent $100 million financing package supporting regional data centre expansion in countries including Ethiopia and Democratic Republic of Congo as an example of how blended finance and regional partnerships can accelerate digital transformation.
The summit in Accra brought together policymakers, regulators, fintech companies, central bank governors and development institutions to discuss digital payments, financial inclusion and cross-border interoperability across Africa.
The event was jointly organised by the Bank of Ghana and Ghana Interbank Payment and Settlement Systems, with support from private-sector and international partners.
Discussions focused on areas including mobile money expansion, digital identity systems, fintech innovation and technology-driven support for implementation of the African Continental Free Trade Area.
Kouassi-Akon concluded by urging African leaders to prioritise digital systems that enable entrepreneurs, small businesses and young people to participate fully in the continent’s growing digital economy.
“The question is not whether Africa’s digital economy will grow,” she said. “The real question is who will build it, scale it and benefit from it.”
