Africa’s financial industry is entering a new phase. After years of fast growth, the focus is shifting from getting bigger to getting stronger, according to the 2025 African Financial Industry Barometer.
Almost half of financial firms now say profit is their top goal. That is a clear change in mood. Confidence across the sector is also at a record high, with leaders giving it a score of eight out of ten. Lower inflation and a clearer economic outlook are helping. Nearly three-quarters of executives say they feel positive about the next three years, with microfinance firms the most upbeat.
But optimism comes with caution. Cybersecurity has become the biggest shared worry. Just over half of those surveyed say cyber risks are now a major concern, up sharply from last year. Nearly six in ten firms say they are highly exposed to this risk. Almost everyone agrees regulators need to act fast, with cybersecurity seen as the top priority.
Technology is no longer a nice extra. More than half of institutions now see themselves as digitally mature. Artificial intelligence is getting special attention. Many leaders expect it to make a real difference in spotting fraud, improving credit decisions and helping customers through chatbots. The message is simple. If you are not using tech well, you are falling behind.
Across the continent, efforts to link markets are also gathering pace. The Pan-African Payment and Settlement System is being used more widely, cutting payment costs and speeding up transfers. Leaders say better links between payment systems could play a big role in bringing more people into the formal financial system by the end of the decade.
There are changes inside boardrooms, too. Women are taking up more seats, with many boards now having at least a quarter female members. That is a sharp rise from last year. The shortage of skilled staff is less of a headline issue, but higher wages for tech talent are putting pressure on costs.
Africa’s finance sector looks calmer and more confident with profit, safety and smart technology now set the pace.
