Africa Banking Forum 2025: The Future of Digital Finance in Tunisia

Tunisian banks still have considerable progress to make in keeping up with the rapid advancements shaping banking activities across Africa, particularly in terms of digitalization. This issue was at the heart of discussions during the 16th edition of the Africa Banking Forum, held from February 18 to 20, 2025, in Tunis, under the theme “Digitalization and Resilience: Reinventing African Banking.”

The Central Bank of Tunisia (BCT) has strongly advocated for inclusive digitalization and increased resilience within the African banking sector. It has also urged Tunisian banks to integrate the Pan-African Payment and Settlement System (PAPSS), a mechanism designed to facilitate seamless intra-African trade and investment through efficient cross-border transactions.

A Call for Banking Transformation

In a powerful statement, the BCT emphasized the need for proactive engagement in the digital revolution. “Let’s be proactive. Let’s demand that banks reinvent themselves, support them in this transformation, and together, build a financial system that is not only digital but deeply African, rooted in our values and adapted to our realities,” the institution declared.

Representing the Governor of the BCT, Vice-Governor Mourad Abdessalem addressed key stakeholders, including regulators, banks, fintechs, and public decision-makers, urging them to collaborate in building a more resilient, inclusive, and forward-looking African banking sector. He reaffirmed the BCT’s commitment to a responsible digital transition that fosters innovation, financial inclusion, and banking stability across the continent.

Abdessalem also underscored the necessity for African banks to adopt sustainable finance practices. This includes supporting responsible investments and integrating environmental and social criteria into their financing strategies, ensuring that digital transformation aligns with broader economic and social objectives.

Financial Stability and Regional Integration

The Vice-Governor highlighted the pressing need for greater regional integration within Africa’s banking sector. He pointed out that closer economic ties and collaboration between African central banks are critical to maintaining financial stability, particularly in the face of economic shocks and emerging threats such as cyberattacks.

He further emphasized that digitalization plays a strategic role in improving financial inclusion across the continent. Despite a relatively low banking penetration rate in sub-Saharan Africa, technological innovations offer a unique opportunity to expand financial services to underserved populations. In this context, he stressed the importance of the PAPSS system in enabling secure and instant cross-border transactions in local currencies, thereby boosting economic cooperation and trade among African nations.

Encouraging Tunisian banking institutions to capitalize on this opportunity, Abdessalem called for a greater focus on Open Banking. This model promotes collaboration between traditional banks and fintech companies, paving the way for more personalized financial services and an enhanced customer experience.

Advancing Digitalization in Tunisian Banking

The challenges faced by Tunisian banks in their digital transformation were also highlighted by Wassel Berrayana, founder of Proxym Group. Speaking on Express FM, Berrayana pointed out that Tunisian financial institutions lag behind their African counterparts in adopting digital banking services.

He stressed that digital transformation offers banks a crucial opportunity to strengthen their relationship with customers by enhancing accessibility and service efficiency. One of the key trends in this evolution is the development of innovative electronic payment solutions, such as Buy Now, Pay Later (BNPL), which have gained significant traction in global financial markets.

Berrayana also emphasized the necessity of adopting advanced information systems to enable a more effective and seamless digital transition. Without modernized technological infrastructure, Tunisian banks risk falling further behind in the rapidly evolving financial landscape.

The call for Tunisian banks to join PAPSS reflects a broader push for digital transformation and financial integration across Africa. As digitalization reshapes the global banking sector, Tunisian financial institutions must take proactive steps to modernize their services, enhance financial inclusion, and contribute to a more resilient and interconnected African economy. By embracing digital finance, Open Banking, and innovative payment solutions, Tunisian banks can position themselves at the forefront of Africa’s evolving financial ecosystem.