Kenya’s rapidly expanding digital finance ecosystem is creating fresh demand for skilled fintech professionals as micro, small, and medium enterprises increasingly depend on technology to grow, trade, and compete across borders. In response to this demand, United States International University Africa has joined a global effort to train fintech innovators who understand both advanced payment technologies and the real needs of small businesses.
Through a new collaboration with the Interledger Foundation and community based MSME networks, USIU Africa is ensuring that students design and test financial tools directly with the enterprises driving Kenya’s digital economy. This hands on approach places the university among a select group of institutions participating in the Interledger Foundation’s NextGen Higher Education Grant Program, an initiative designed to expand open and interoperable payment technologies worldwide.
Backed by a 50,000 US dollar grant, the university has launched its FinTech Innovators Programme. Over one year, 40 students will receive intensive training to become certified specialists in the Interledger Protocol. This open payment network enables secure and interoperable digital transactions across different currencies and platforms, making it particularly relevant for online commerce and cross border trade.
According to the Interledger Foundation, the protocol allows payments to move freely between systems without being locked into a single provider or currency. This flexibility is essential for regions like East Africa, where diverse mobile money platforms dominate everyday transactions.
At the centre of the programme is a strong focus on financial inclusion. Dr Billy Wadongo, director of the Innovation and Incubation Centre at USIU Africa, explained that the initiative is designed to bridge the gap between academic learning and real world challenges. By integrating open source payment systems with incubation support, the university is preparing graduates to build solutions that are inclusive, scalable, and grounded in community needs.
MSMEs are central to this strategy. In Kenya, small businesses account for more than a third of national GDP and over 90 percent of employment. Yet many still struggle with fragmented payment systems, high transaction costs, and limited access to credit. Students in the programme are working alongside traders to develop low cost digital tools that reflect actual financial behaviour rather than theoretical models.
Nicholus Kioko, a student innovation lead, said that many solutions are designed to help merchants separate personal and business transactions. This separation allows traders to build credit histories and access financing exactly when they need it. Teams are also using the Interledger Protocol to reduce currency exchange costs, cutting out expensive intermediaries that eat into small business margins.
Entrepreneurship is embedded throughout the learning process. Students receive mentorship, conduct market testing, and refine prototypes within the Innovation and Incubation Centre. Promising ideas are supported on a pathway toward startup formation, ensuring that innovation does not stop at the classroom door. Current concepts include interoperable wallet payments, offline first merchant tools, and alternative lending models based on informal trade flows.
Student software engineer Brooke Stanley Agina described the long term ambition as transformative. By lowering currency exchange costs and improving liquidity, she believes Interledger technology could become the backbone of East Africa’s digital payments infrastructure. Such innovation has the potential to reshape regional trade.
This initiative reflects a broader pan African surge in university led fintech innovation. Across the continent, institutions are integrating fintech into teaching through hackathons, industry partnerships, and research hubs. From Kenya and South Africa to Ghana, student led solutions are already gaining international recognition and attracting global accelerators.
Despite East Africa’s leadership in mobile money adoption, challenges remain. Limited interoperability between platforms, regulatory differences, and gaps in digital literacy continue to slow seamless transactions. These obstacles highlight the importance of collaboration between universities, industry, and policymakers to ensure fintech solutions scale effectively.
Through the NextGen Higher Education Grant Program, USIU Africa students will also collaborate with peers in the United States and the Netherlands via virtual hackathons and shared learning platforms. According to Vice Chancellor Professor Mwenda Ntarangwi, this global exposure positions students to create technologies that bridge gaps and contribute meaningfully to Kenya’s digital economy.
CONCLUSION
By combining open payment technology, real world MSME collaboration, and entrepreneurship training, USIU Africa is shaping a new generation of fintech leaders. These innovators are equipped not only with technical expertise but also with a deep understanding of inclusion, positioning Kenya to lead the next wave of digital financial transformation across Africa.
