Since May 27, 2025, twenty fintechs have been officially licensed by the BCEAO, marking a decisive first step for a sector long dominated by the informal sector. This recognition is not limited to an administrative exercise. It places digital finance players on a trajectory where credibility, transparency, and compliance become conditions for market access. The movement reflects a paradigm shift, that of a previously fragmented finance sector that is beginning to organize itself around a regional institutional framework.

For startups and investors alike, BCEAO accreditation acts as a seal of confidence. It opens the door to stronger banking partnerships, greater attractiveness to foreign capital, and better user protection. The digital finance market in West Africa, already booming, could thus take a step forward in terms of structuring and competitiveness. But this formalization also imposes a new discipline on players accustomed to operating in a gray area, where innovation sometimes develops faster than regulation.

However, behind this shift lies a significant limitation. The lack of a single, valid license for the entire WAEMU further fragments the market, forcing fintechs to navigate between several national regimes. This complexity could hamper the emergence of regional champions capable of competing with major international platforms. It underscores the need for an institutional leap forward, to move from a country-by-country regulatory approach to true financial integration.

This historic milestone places fintechs within the scope of regulations that are still incomplete, but now essential. The BCEAO has sent a signal. The future of digital finance will depend not only on technological innovation, but also on the ability of stakeholders to align themselves with common standards. The battle for credibility is on, and with it, that of regional integration.