In Senegal, the rise of fintech has transformed the financial landscape by democratizing access to payment services and facilitating the inclusion of populations long excluded from the traditional banking system. Mobile money, e-wallets, and micro-transaction platforms now allow millions of Senegalese to transfer, save, or receive funds without going through a traditional bank branch. These innovations improve the fluidity of daily transactions and offer new insight into informal financial flows.

However, when it comes to financing the real economy, particularly businesses and major infrastructure projects, the role of banks remains paramount. Trade loans, investment credit, and lines of credit that enable companies to grow, acquire equipment, or create jobs still largely rely on banking institutions. Fintechs, for their part, do not yet have the resources or guarantees necessary to operate on a large scale in this riskier and more capital-intensive segment.

This division of roles creates an asymmetry: digital technology helps broaden access to basic financial services, but its impact on productive investment and the structural transformation of the economy remains limited. Formal businesses continue to rely on banks to secure their medium- and long-term financing, and innovative, capital-intensive projects struggle to benefit from digital channels.

The contrast is particularly evident in the industrial and agricultural sectors, where equipment and working capital needs far exceed what fintechs can provide. Banks, with their stronger balance sheets and expertise in risk assessment, remain the key players capable of mobilizing significant resources and supporting the economy's structural growth.

Thus, while fintechs are redefining the everyday financial experience and strengthening inclusion, the real impetus for productive financing continues to come from the banking sector. This reality underscores the need to develop partnerships between digital players and traditional institutions in order to channel technological innovation toward a deeper impact on the Senegalese economy.