24th Annual BEN Africa Conference

At the 24th Annual Business Ethics Network Africa Conference, four colleagues from Absa Mauritius presented papers examining how Africa’s rapidly evolving banking sector can balance innovation with ethics, governance and inclusion.

As technologies such as artificial intelligence, mobile banking and blockchain continue to transform financial services across the continent, the central question is clear. How can innovation be governed in a way that empowers people, protects trust and strengthens inclusion.

Below is a summary of the key reflections shared by each presenter.

Innovative Technologies, friend or Foe reflecting on governance and ethics

Zeenat Nunkoo Ghaseeta – Customer Experience

As African banking embraces artificial intelligence and digital innovation, the central challenge is ensuring that technology empowers rather than alienates people. While automation brings speed, convenience and personalisation, it can also lead to opaque and impersonal decisions that leave customers confused or excluded.

Ethical governance in the digital age requires more than compliance. It calls for leadership that deliberately designs technology with humanity, fairness and accountability at its core.

This reflection is guided by two deeply human principles. Ubuntu, which emphasises empathy, community and shared responsibility. And Emotional Intelligence, which focuses on self awareness, empathy and ethical decision making. Together, these principles can act as a moral compass for navigating digital transformation.

By embedding these values across all banking functions, from executives and regulators to data teams and frontline staff, technology can evolve into a trustworthy partner that strengthens inclusion, dignity and transparency. Every system we design and every line of code we create reflects who we are and what we value. Integrating Emotional Intelligence into governance frameworks and treating EI development as a strategic investment equips institutions to lead innovation with empathy, ethical clarity and social responsibility.

In doing so, African banking can shape a future where humans and machines work together in true symbiosis, ensuring technological progress reflects our deepest values rather than eroding them.

Smart Banking, Wise Leadership The Ethics Behind Africa’s Tech Surge

Yusuf Bauluck – Compliance & Financial Crime

Africa’s banking sector is transforming at remarkable speed, from mobile money to artificial intelligence and blockchain. These innovations have unlocked financial inclusion for millions. At the same time, they have heightened the responsibility to govern technology ethically, transparently and inclusively.

This paper explores how banks across the continent are navigating the balance between innovation and responsibility.

Key reflections include the role of innovation as a catalyst for economic justice, particularly in communities historically excluded from formal banking. Ethical leadership is highlighted as non negotiable, with trust, transparency and data protection forming the foundation of sustainable innovation.

The paper also emphasises responsible AI and data stewardship, ensuring customers understand their rights in an increasingly digital ecosystem. Inclusion by design is critical so that technology empowers rather than marginalises Africa’s diverse population. Collaborative governance, involving banks, regulators, fintechs and academia, is essential to co create a sustainable digital future.

Ethics is not the brake on innovation. It is the steering wheel. When guided by integrity, technology becomes one of Africa’s most powerful tools for equity and progress.

Innovative Technologies, Friend or Foe Reflecting on Governance and Ethics in African Banking Systems

Geema Korlapu-Bungaree – Corporate and Investment Banking

The rapid adoption of innovative technologies such as mobile banking, blockchain and AI driven financial services has positioned Africa as a global leader in fintech innovation. However, this growth also raises critical ethical and governance challenges, including financial exclusion, data privacy risks and regulatory fragmentation.

This paper examines the dual role of technology in African banking, analysing its potential to drive financial inclusion while also exacerbating inequalities. Through case studies from Kenya’s M Pesa, Nigeria’s cryptocurrency landscape and South Africa’s AI based credit scoring, the research highlights the importance of context specific governance frameworks and ethical safeguards.

Africa’s banking sector has leapfrogged traditional infrastructure, but weak regulatory oversight, low digital literacy and infrastructure gaps risk turning technological promise into peril. The study explores whether Africa’s fintech revolution will empower the unbanked or deepen digital divides.

The research assesses how mobile money, AI and blockchain are transforming banking, identifies ethical risks such as predatory lending apps and crypto scams, and proposes Africa centric solutions for ethical fintech governance. Findings show that while mobile money and alternative finance models have expanded access, governance failures can leave vulnerable populations exposed.

To ensure technology remains a force for good, the paper calls for stronger cross border regulatory collaboration, action against predatory practices and sustained investment in digital literacy. Africa’s banking revolution demonstrates that technology has the power to include or exploit, depending on how it is governed.

Innovative Technologies, Friend or Foe Reflecting on Governance and Ethics

Karishma Sewock Nobutsing – Global Markets

Banking and society stand at a pivotal moment as innovation reshapes how financial services are delivered. Technology promises economic growth, inclusive development and new governance models, but its impact depends entirely on how it is guided.

This paper argues that innovation will play a critical role in strengthening ethics and governance within the banking ecosystem. By blending human wisdom with artificial intelligence, institutions can adapt to change while leading responsibly.

AI will not replace governance. It will reshape it. As AI evolves rapidly, robust governance frameworks are essential to ensure the equitable and sensible distribution of benefits across the global economy. From an ethical perspective, innovation holds the potential for significant social and economic value where it is needed most.

Technology itself is neutral. Without ethical oversight, innovation can amplify bias, exclusion and inequality. With strong governance, AI and fintech become allies that drive inclusion, transparency and empowerment. Ethics transform risk into opportunity, fear into trust and disruption into progress. Leading innovation with ethics ensures technology serves humanity, not the other way around.

Shaping Africa’s Digital Banking Future

Together, these reflections reinforce a shared conviction: Africa’s digital banking future must be built on ethical leadership, inclusive design, and human-centred governance.