Tunisian banks undoubtedly still have progress to make to keep pace with the advancements regularly shaping banking activity in most African countries, especially in terms of digitalization. This necessity was strongly emphasized 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), for its part, advocated for inclusive digitalization and greater resilience in the African banking sector, urging Tunisian banking players to join the Pan-African Payment and Settlement System (PAPSS) to boost intra-African trade and investment.
“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,” was the message conveyed by the BCT on this occasion.
In a speech delivered on behalf of the BCT Governor, Vice-Governor Mourad Abdessalem called on all stakeholders (regulators, banks, fintechs, and public decision-makers) to work together to build a more resilient, inclusive, and forward-looking African banking sector.
He also reaffirmed the BCT’s commitment to responsible digital transformation, supporting innovation, financial inclusion, and the stability of the banking sector at the continental level.
He highlighted the need for African banks to embrace sustainable finance by supporting responsible investments and integrating environmental and social criteria into their financing strategies.
Additionally, he emphasized the imperative for the African banking sector to adopt a proactive approach to address the profound changes facing the banking landscape, particularly the emergence of disruptive new technologies and new players such as fintechs, as well as the climate challenges impacting the African continent.
Advocating for financial stability
Stressing the importance of regional integration, Abdessalem underscored the need to strengthen ties between economic blocs and the commitment of African central banks to financial stability, which he deemed essential to withstand economic shocks and emerging risks, including the rise of cyber threats.
He also reiterated the strategic role of digitalization in enhancing financial inclusion in Africa. Indeed, although the banking penetration rate in sub-Saharan Africa remains limited, technological innovations represent a crucial lever to expand access to financial services.
The Vice-Governor further highlighted the BCT’s adoption of the Pan-African Payment and Settlement System (PAPSS), a key infrastructure for instant and secure cross-border transactions in local currencies.
He encouraged Tunisian banking players to fully leverage this mechanism to stimulate intra-African trade and investment.
He also emphasized the importance of Open Banking as a fundamental lever to foster greater collaboration between traditional banks and fintechs. Such an approach, he argued, would enable the personalization of financial services and significantly improve the customer experience.
Further digitizing banks
Tunisian banks face numerous challenges in their digital transition compared to financial institutions worldwide, and particularly in Africa, where the digitization of banking services has seen significant development, said Wassel Berrayana, founder of Proxym Group.
Speaking on Express FM, he stated that banks can succeed in getting closer to their customers through digital transformation, highlighting the development of new electronic payment methods, such as BNPL (Buy Now, Pay Later).
He stressed the need to adopt a more advanced information system to enable effective digitization of banking services.
