At the inaugural CNN Global Perspectives summit, Flutterwave Founder and CEO Olugbenga Agboola outlined his vision for Africa’s digital economy, where his company serves as a “payment superhighway” to facilitate intra- and inter-African trade. The summit, themed “Africa’s Role in a Changing World,” brought together leaders to explore how the continent’s emerging economies and young generation can drive global growth.

Agboola joined other industry experts, including Lucy Liu, Alex Okosi, and Serigne Dioum, in a discussion on fueling the next-generation startup ecosystem. He acknowledged the challenges posed by Africa’s fragmented regulatory environment, which increases the cost of scaling, but noted that progress is being made. The recent memorandum of understanding between Ghana and Rwanda, aimed at streamlining cross-border fintech operations, was cited as an example of this progress.

Agboola emphasized the critical role of regulation and infrastructure in sustaining the momentum of Africa’s startup ecosystem, stating that “regulators are very impressive” and “understand how to enable the networks of growth.” Other panelists shared his optimism about Africa’s regulatory evolution and potential for digital transformation, highlighting the need for open markets, ecosystem integrity, and financial inclusion.

The discussion reflected on Africa’s success in pioneering alternative payment methods, such as Kenya’s M-Pesa and Nigeria’s Inter-Bank Settlement System Plc (NIBSS), and the widespread adoption of mobile money. Agboola shared his vision for a connected continent where money moves as freely as ideas and innovation, with Flutterwave building an interoperable infrastructure to connect existing systems.

This vision guides Flutterwave’s growth and strategy, including its recent partnership with Polygon to build Africa’s largest infrastructure for stablecoin payments. The company’s efforts aim to create a seamless payment experience for businesses and consumers, facilitating economic growth and development across the continent. As Africa continues to drive digital transformation, the development of interoperable infrastructure and regulatory frameworks will be crucial in sustaining the momentum of its startup ecosystem.