Strathmore University Business School (SBS) Hosts a Fintech Industry Tour

Kenya’s fintech sector has over the past decades earned global recognition for its groundbreaking innovations in mobile money, digital lending, and financial inclusion. With Nairobi emerging as a leading fintech hub in Africa, the country continues to set the pace for digital financial services. However, as industry continues to grow, critical questions around regulation, security, and sustainability remain.

It is against this backdrop that Strathmore University Business School (SBS) hosted a fintech industry tour on Tuesday last week, bringing together students, academics, and industry experts to explore emerging trends and challenges in financial technology. This industry tour was part of an ongoing collaboration between the Fintech and Digital Innovation Research Interest Group, which includes scholars from Strathmore University (SU), the Technical University of Kenya (TUK), and Nova Scotia Community College (NSCC).

A delegation of 15 students from the three partner institutions participated in the visit to Strathmore University, led by Dr. Beatrice Achuki (TUK), Dr. Samuel Kiragu (NSCC), and Dr. Erastus Mbithi (SU). The fintech tour provided students and faculty with direct exposure to the fintech ecosystem, fostering engagement with industry leaders, regulators, and financial institutions. The discussions covered key topics, including:

• The regulatory landscape for fintech in Kenya
• Digital payments and mobile money innovations
• The role of blockchain technology in financial services
• The impact of digital lending on financial inclusion
• Emerging trends in open banking and Central Bank Digital Currencies (CBDCs)

A key highlight of the tour was a keynote address by Ali Hussein Kassim, Chairman of the Association of Fintechs in Kenya and Executive Board Member, VP Eastern Africa Region, African Fintech Network. He provided insights into Kenya’s fintech evolution over the last two decades, emphasizing the country’s role as a fintech hub attracting global talent and investment. Ali Hussein underscored the transformative impact of M-Pesa, which launched in 2007 as a peer-to-peer money transfer service and evolved into a comprehensive financial ecosystem. This innovation has driven financial inclusion from below 10% to nearly 90%, laying the foundation for digital lending, insurance, savings, and investment solutions.

He also noted that as Kenya’s fintech ecosystem matures, industry players are grappling with critical challenges. Regulatory uncertainty remains a pressing issue, as evolving fintech regulations create ambiguity for startups and investors. Cybersecurity risks are another major concern, with the need to protect customer data and mitigate cyber threats. Talent acquisition also presents hurdles, as fintech companies struggle to attract and retain skilled tech professionals in a competitive job market.

Despite these challenges, Kenya remains a fintech powerhouse with numerous emerging opportunities. Expanding financial inclusion and wellness initiatives continues to drive fintech solutions for underserved populations. There is also significant potential for regional expansion, as fintech companies scale their solutions beyond Kenya into broader African markets.

Advancements in artificial intelligence and data analytics offer new ways to enhance financial services, while agritech innovations are leveraging fintech to support agriculture and rural economies. Additionally, the adoption of cryptocurrency and digital assets is gaining momentum, with stakeholders exploring blockchain and crypto applications in Africa’s financial sector.

Kenya is positioning itself among the top four fintech ecosystems in Africa, alongside Egypt, Nigeria, and Saudi Arabia. To maintain its leadership, collaboration between academia, industry, and regulators will be crucial in shaping policies that foster innovation, security, and sustainable growth in the fintech space.

About the Bachelor in Financial Services Programme

This Programme is designed to equip students with the knowledge and skills needed to excel in the dynamic financial sector. This multidisciplinary programme blends finance, technology, and strategic management, preparing graduates for careers in banking, fintech, investment, risk management, and financial consulting. With a strong emphasis on practical learning, industry engagement, and innovation, BFS students benefit from exposure to real-world financial challenges through internships, case studies, and mentorship from industry leaders. The programme also integrates emerging trends such as digital finance, financial inclusion, and data analytics, ensuring that graduates are well-prepared to drive innovation in Kenya’s and Africa’s financial landscape. The April 2025 intake is ongoing. Learn more here.

Article by Miriam Wafula