IBM: How the pandemic is accelerating digital transformation in Africa’s banking sector

The banking sector in Africa is on the brink of a significant transformation, with the pandemic acting as a catalyst for accelerated digital innovation. In a recent interview on CNBC Africa, Angela Kyeramaten Jimoh, General Manager of IBM North, East, and West Africa, discussed how technology is driving this revolution in the banking industry. She highlighted IBM's role in empowering leading banks across Africa to embrace digital transformation and promote financial inclusion. According to Jimoh, the momentum towards digital-first banking is set to continue even post-lockdown, reshaping the sector in profound ways. Key themes that emerged from the conversation included the adoption of cloud technologies, artificial intelligence (AI), and industry-specific solutions to meet the evolving needs of consumers. IBM's introduction of IBM Cloud for Financial Services marks a groundbreaking development, enabling banks to innovate rapidly while maintaining robust security measures. The convergence of hybrid cloud, AI, and automation is poised to redefine the IT infrastructure landscape for businesses in the post-pandemic era. With a focus on enhancing digital literacy and skills development, IBM is committed to bridging the gap between technological advancements and workforce readiness in Africa. Jimoh emphasized the importance of equipping individuals with the necessary skills to leverage transformative technologies effectively, thereby unlocking the full potential of digitization for economic growth and financial inclusion across the continent. As the banking sector navigates a period of unprecedented change, collaboration between industry stakeholders, governments, and technology providers will be crucial in driving sustainable development and inclusive growth for all.