Episode 85 of Banking Reinvented marks a milestone, our first Africa Spotlight conversation hosted by Amjad Ramahi. In this episode, we explore how AI is reshaping financial services across the continent and why Africa is uniquely positioned to lead this next wave of innovation.
Amjad sits down with George Njuguna, Founder of GNK Consulting and former CIO of Safaricom, to discuss the continent’s readiness for AI. With over 24 years in banking and fintech across sub-Saharan Africa, George brings a powerful perspective on how AI can drive intelligent financial inclusion, simplify complex information across diverse languages, and unlock opportunities for millions who remain excluded from traditional banking.
Together, they explore Africa's leapfrogging advantage from mobile money to modern AI-driven banking, the practical use cases already delivering value, and why education is Africa's greatest accelerator. George calls for early AI literacy, local model development, and leadership grounded in curiosity and collaboration.
Tune in to hear why Africa's hunger for innovation, young population, and mobile-first foundation make it uniquely positioned to shape the future of AI-enabled banking.
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Timestamps
(00:00) Welcome and introduction to George Njuguna
(01:12) Why Africa will not miss the intelligence revolution
(02:57) How AI fits into Africa’s innovation journey
(03:43) AI as an enabler of inclusion and access
(05:23) Breaking language and literacy barriers
(06:40) Building Africa’s talent pipeline through education
(09:59) Technology, culture, and preserving African heritage
(12:04) Real AI use cases in African banking
(15:11) Governance, cybersecurity, and building AI guardrails
(18:12) Collaboration, policy, and leadership in the AI era
(21:18) Curiosity as a key leadership mindset
(23:31) Lessons from the Jacquard loom and embracing innovation
(27:04) Africa’s opportunities in the next wave of transformation
(29:35) Rethinking SME credit and powering local value creation
(32:17) How M-Pesa shaped Africa’s financial landscape
(41:19) Final advice for banking CEOs