Africa offers opportunities for fintech development

Digital financial inclusion could become a highlight in China-Africa collaboration, with great potential for social benefits and business success ready to be unleashed, experts said.

"Africa is extremely interested in China's practice of digital financial inclusion, or how China has leveraged digital technologies to make financial services accessible for previously underserved small businesses and individuals," said Bei Duoguang, president of the Chinese Academy of Financial Inclusion, or CAFI, which functions under the aegis of Renmin University of China.

"Different from the typical route of developing a financial system, Africa wants to skip the step of establishing a mature bank system but directly use digital finance to boost inclusive, sustainable growth," said Bei, citing his experience communicating with financial practitioners in Africa.