Africa’s top policymakers, innovators, and business leaders wrapped up the fourth Africa Soft Power Summit, setting out ambitious strategies to accelerate the continent’s journey towards an inclusive economy, economic self-determination, and digital transformation.

The two-day event, convened by Dr. Nkiru Balonwu, founder of Africa Soft Power, featured over 20 distinguished speakers from across Africa and international organisations. Among the key voices was Phillips Ikeazor, Director-General of Financial System Stability at the Central Bank of Nigeria (CBN), who shared vital insights on advancing financial technologies and policy reforms.

The summit attracted senior representation from Kenya, including Chief Justice Hon. Martha Koome and Member of Parliament Hon. Millie Odhiambo Mabona. Nigeria’s financial sector was strongly represented by Ikeazor and Ngover Ihyembe-Nwankwo, Executive Director of the Nigeria Inter-Bank Settlement System (NIBSS).

Corporate leaders from Mastercard Foundation, Standard Bank Group, Airtel Kenya, Access Bank Kenya, and Interswitch also took part, signalling robust private sector commitment to Africa’s digital future.

Under the banner, “Africa’s Growth Engine: Aligning the Flow of Money, Innovation, and Global Opportunities,” discussions spanned a wide array of topics. These included cross-border trade, digital taxation, AI governance, data sovereignty, decentralised finance, tariffs, remittances, creative industries, and women’s leadership. The summit brought together influential voices from Africa and its diaspora to unpack the financial frameworks, technologies, policies, and social dynamics shaping the continent’s future.

The opening panel, “Leading Transformations When Inclusion Isn’t ‘Trending,’” challenged conventional approaches to diversity, equity, and inclusion (DEI), with a particular focus on rural and marginalised women. Dr. Balonwu made a powerful case for cultural change, stating, “Inclusion isn’t a favour, it’s a necessity for our continent’s progress,” highlighting women’s pivotal role in political and economic spheres.

Kenya’s Chief Justice Hon. Martha Koome, Edwin Macharia (co-founder of Axum.Earth and Mozilla Foundation board member), and senior DEI consultant Banke Sotomi contributed to the discussion. Macharia remarked, “Power is rarely given; it’s taken. Women must demand their place at the table.”

Another keynote speaker, a venture capitalist, underscored technology’s critical role in Africa’s economic advancement and the need for continued efforts towards inclusivity.

“In Africa, we’ve played this interesting role where in some ways we’ve leapfrogged some of the technology we’ve seen in the West. And I think when we think about what is going to create this massive transformative shift, it’s going to be this continuous leapfrog in technology. And what we need to be more mindful about is around entrepreneurship in Africa, most entrepreneurs are women.

“A lot of it is informal entrepreneurship, but most entrepreneurs are on the continent. But when you look at the statistics around funding, the majority of the funding globally goes to men, and it’s the same thing we see on the continent. So what I think is crucial to kind of shift that dynamic long-term is, one, having more people like me on the other side of the table, so having more female investors with check-writing power to sort of eliminate and remove the biases,” Ndewa said.

Phillips Ikeazor provided a detailed update on Nigeria’s financial inclusion efforts during the panel “Policy and Innovation: The Role of Infrastructure in Advancing Emerging Financial Technologies.” He highlighted Nigeria’s impressive progress towards 95% financial inclusion, building on the current 74% rate.

He also introduced AI-driven anti-fraud initiatives and unveiled a new exposure draft aimed at strengthening anti-money laundering measures. “We’ve issued an exposure draft for anti-money laundering standards, leveraging AI to reduce fraud and protect financial stability,” Ikeazor stated, encouraging innovators to contribute solutions. His vision for enhanced pan-African collaboration through stablecoins and platforms like PAPSS was well received, though he acknowledged the political challenges involved in harmonising cross-border payments.

The summit also tackled the vital issue of AI governance, focusing on protecting African innovation and data sovereignty. Technology leaders, including Daisy Isiaho, co-founder of Zuri Health, and venture capitalists from Delta40 Venture Studios and Stratlink, shared perspectives on funding and implementing innovation.

One speaker warned against allowing Africa to become a testing ground for new technologies without proper regulation:

“AI is coming with the first industrial revolution, with other technologies, like biotechnology, or something like that. And when we use AI to discover new medicine, or we are using AI in another field, we should take care of not trying to test this new discovery in communities like in Africa. You know, because in Africa there is no specific regulation about AI.

He called for urgent capacity building among African policymakers: “Because if we are not doing that, policymakers will not have the comprehension of AI, and will not first be part of the global discussion; will not have the capacity to put the right regulations. And will not have all the knowledge to help ecosystem building. So it is a main challenge we have.”

Representatives from international bodies such as the Mastercard Foundation’s Africa Catalytic Impact Fund reinforced the summit’s continental significance, emphasising collaboration beyond national borders.

By uniting government officials, central bankers, and technology innovators from Nigeria, Kenya, and across Africa, the fourth Africa Soft Power Summit has laid down a clear roadmap for inclusive, innovation-led development. Its comprehensive approach to tackling structural barriers while promoting digital finance, AI governance, and women’s leadership has generated fresh momentum towards economic empowerment and strategic autonomy for the continent.

The summit’s outcomes promise to shape Africa’s growth trajectory in the years ahead, as the continent harnesses its soft power to unlock new opportunities on the global stage.