Regulation of fintech must promote stability and innovation

Regulators should be trained to understand and manage complex fintech innovations, ensuring that oversight keeps pace with technological progress. [iStockphoto]

East Africa has long been celebrated as a beacon of innovation in the global fintech landscape.

The region's ascent has been driven by the same key disruptions reshaping the financial services industry worldwide such as the use of alternative data, peer-to-peer transactions and the rise of non-traditional financial players.