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The African Digital Banking Transformation Report 2024

Capturing the pulse of banking modernization in the continent

For the fourth year in a row, Backbase and African Banker magazine offer a thorough analysis of the African banking sector in the African Digital Banking Transformation Report 2024. Through the lens of 155 banks, discover substantial investments and advances in digital innovation and how these institutions tackle the complex financial landscape. Explore upcoming key digital services are planning to develop in the upcoming year, reflecting their strategies to enhance customer engagement and operational efficiencies.

Discover key statistics that define the current African landscape:

  • 60% of banks state that most of their operations are now digitally transformed.

  • 21.6% report increased customer satisfaction and loyalty due to digital investments.

  • 33.8% prefer partnering with third-party developers to enhance technological expertise.

  • Over 30% face challenges with the compatibility and scalability of legacy systems.

Seize the opportunity to understand the forefront of Africa's digital banking transformation. This report not only tracks the progress but also predicts future trends, equipping stakeholders with the knowledge to lead and innovate.
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Get exclusive insights from 155 banks across Africa

We have published this comprehensive report to provide African banking leaders with a clear roadmap for digital transformation across the African banking sector. Download the report now to access:

In-depth statistics

See how operational shifts and advancements are shaping Africa’s financial sector.

Challenges and approaches

Explore the varied digitization strategies—from in-house to hybrid models—adopted by banks to tackle transformation challenges.
Discover how retail, SME, and corporate banking sectors are adapting and benefiting from digital solutions.

Peer perspectives

Hear exclusive insights from industry leaders about the real impact of digital transformation and explore case studies of banks in the midst of transformative changes.