You wouldn’t bake a cake and then decide whether to add sugar, would you? Yet, so many fintechs build a product first and then scramble to figure out how to communicate it. In the fast-moving world of African fintech, where competition is fierce and customer trust is hard-earned, this is a dangerous game to play.
Many fintechs pour resources into product innovation and technology, believing that a superior product will sell itself. But here’s the reality—if no one understands your product, trusts it, or sees its value, it doesn’t matter how revolutionary it is. That’s where strategic communications come in. Without a clear, consistent narrative, even the best fintech solutions can struggle to gain traction.
Public relations (PR) and communications must be baked into business strategy from the very beginning. It’s not just about launching a product and then figuring out how to market it; it’s about ensuring that communication strategies are part of product development, customer engagement, and market positioning from day one.
In essence, fintechs must achieve a PR-product fit—where what they build, how they communicate, and how they position themselves in the market work in seamless harmony. When done right, PR doesn’t just support the product; it amplifies its impact, builds trust, and accelerates adoption.
Why Communications Must Be Involved from Day One
When building a fintech product, the focus is often on solving a specific problem: enabling seamless payments, improving access to credit, or simplifying cross-border transactions. But solving the problem is only half the battle. The other half is ensuring that your target audience understands why your solution matters and how it can improve their lives. This is where communications step in.
Shaping Market Perception from Day One
Perception is a reality in business. Before users even interact with a fintech product, they form opinions based on what they hear and read. If a fintech’s communication strategy is reactive—developed after the product is built—it risks being misaligned with the brand’s long-term vision and customer expectations. Instead, by integrating communications early, fintechs can proactively shape narratives, educate the market, and position themselves strategically.
Take Zone Payment Network, for example. The company didn’t just build Africa’s first regulated blockchain network for payments; it has consistently communicated its vision of transforming payments through decentralization. Through thought leadership, storytelling, and consistent PR efforts, Zone has positioned itself as a pioneer in the payment infrastructure space, enabling financial institutions to transact seamlessly while fostering trust and regulatory confidence.
Building Credibility and Trust in a Skeptical Market
The financial services industry is built on trust. Unlike other consumer tech sectors, where users can try a product with little risk, fintech products involve people’s money—meaning scepticism is naturally higher. Without a clear, consistent, and transparent communication strategy, even the most innovative products can struggle to gain traction.
For instance, when Chipper Cash expanded across Africa, it didn’t just focus on the technical superiority of its remittance and payment solutions. The company ensured that its communications emphasized security, compliance, and ease of use, addressing common concerns upfront. By aligning its messaging with consumer pain points, Chipper Cash was able to scale rapidly while building trust in multiple markets.
Influencing Regulation and Policy from a Position of Strength
African fintechs operate in an environment where regulations are constantly evolving. Many startups see regulation as an external force they must react to, but the most successful fintechs actively engage regulators and shape the conversation. This is only possible when communications teams work closely with business leaders to craft narratives that resonate with policymakers.
For example, M-Pesa’s success in Kenya wasn’t just about mobile money innovation—it was also about how Safaricom strategically communicated the product’s impact on financial inclusion. By engaging regulators early and positioning M-Pesa as a tool for economic empowerment, the company was able to secure regulatory buy-in, setting a precedent for mobile money adoption across Africa.
Driving User Adoption and Customer Engagement
A great product with poor communication will struggle to scale. Many fintechs assume that if they build something valuable, customers will naturally find and adopt it. But in a crowded market, visibility is everything.
Brands like Paystack understood this early on. Before its acquisition by Stripe, Paystack didn’t just rely on product superiority—it leveraged a strong community-driven approach. Through social media engagement, developer-focused content, and localized storytelling, Paystack made exciting payments for small businesses and developers, driving organic adoption and advocacy.
The Cost of Misalignment
When communication is treated as an afterthought, the consequences can be severe. Misaligned messaging can confuse customers, dilute your brand, and even damage your reputation. Consider the case of a fintech that launches a revolutionary product but fails to explain its benefits clearly. Customers may not understand how to use it, or worse, they may misinterpret its purpose. This disconnect can lead to low adoption rates, negative reviews, and ultimately, business failure.
How African Fintechs Can Achieve PR-Product Fit
- Involve Communications Early
- Communications teams should be part of the product development process from the beginning. This ensures that messaging is aligned with the product’s goals and target audience.
- Understand Your Audience
- Conduct research to understand your audience’s needs, preferences, and pain points. Use this insight to craft messaging that resonates.
- Be Consistent
- Consistency is key to building trust and brand recognition. Ensure that your messaging is consistent across all channels, from social media to customer support.
- Monitor and Adapt
- The fintech landscape is constantly evolving. Regularly monitor the impact of your communications and be prepared to adapt your strategy as needed.
The Future: Fintechs That Get PR-Product Fit Will Win
African fintechs that align their communication strategy with their business objectives will have a competitive edge. In a landscape where differentiation is tough, the fintechs that succeed will be those that not only build great products but also tell compelling, authentic stories about their impact. The era of fintechs treating PR and communications as an afterthought is over. Those who embed strategic communications into their business DNA will drive adoption, secure trust, influence policy, and ultimately, win the market.
