Africa Fintech Festival’s Post

In today's rapidly evolving digital landscape, Digital Public Infrastructure (DPI) stands as a cornerstone in the quest for financial inclusion. By providing accessible, affordable, and secure digital services, DPI bridges the gap between underserved communities and essential financial resources. It's not just about technology; it's about empowering individuals with the tools they need to thrive. DPI fosters economic growth, encourages innovation, and ensures that everyone, regardless of their socio-economic background, has the opportunity to participate fully in the global economy. At the Inclusive Fintech Forum in Kigali from August 26th to 27th, 2024, experts in digital public infrastructure will delve deeper into the topic. Our president, Segun Aina Aina, and our CEO, Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., along with some board members, will be there. Don't miss this opportunity to connect, share, and network with like-minded professionals. 👉 Register here: https://lnkd.in/ Chilekwa Banda, Ali Hussein Kassim, Abderrahim HANSALI, Jameelah Sharrieff-Ayedun, Ph.D., Alexandra Najime Galvis (Authentic Alex) SEA, Kagisho Dichabe, Joëlle Sow, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Dr. Andualem Hailu, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, DRC Fintech Association, Association Fintech Madagascar,  Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association

Today, our esteemed panelists will discuss "Beyond Mobile Money: The Next Frontier of Agrifintech Innovation," which will be moderated by our  Legal Advisor, Eva Gachoki at the Africa Fintech Festival in Naivasha, Kenya. Agrifintech Innovation involves integrating advanced technologies such as blockchain, artificial intelligence (AI), and the Internet of Things (IoT) into agricultural financial services. This advancement aims to tackle the unique challenges faced by farmers, including access to credit, insurance, and transparent supply chains. Join us today to share and learn from leading voices in fintech, tech, banking, agritech, policy, governance, and more. Register here to join virtually: https://lnkd.in/erVseTaM Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Abderrahim HANSALI, Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Munyi Nthigah, Alex SEA, Kagisho Dichabe, Joëlle Sow, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Dr. Andualem Hailu, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association

Today, our esteemed panelists will discuss "Beyond Mobile Money: The Next Frontier of Agrifintech Innovation," which will be moderated by our  Legal Advisor, Eva Gachoki at the Africa Fintech Festival in Naivasha, Kenya. Agrifintech Innovation involves integrating advanced technologies such as blockchain, artificial intelligence (AI), and the Internet of Things (IoT) into agricultural financial services. This advancement aims to tackle the unique challenges faced by farmers, including access to credit, insurance, and transparent supply chains. Join us today to share and learn from leading voices in fintech, tech, banking, agritech, policy, governance, and more. Register here to join virtually: https://lnkd.in/erVseTaM Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Abderrahim HANSALI, Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Munyi Nthigah, Alex SEA, Kagisho Dichabe, Joëlle Sow, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Dr. Andualem Hailu, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI), Digital Pilipinas, International Digital Economies Association

As we approach the Inclusive FinTech Forum, we should be reminded of the incredible potential that networking holds in shaping our collective future. This event isn't just about sharing knowledge; it's about building meaningful connections that can lead to transformative change in the fintech landscape of Africa. Networking is more than exchanging business cards; it's about finding common ground, sharing insights, and collaborating to solve the challenges of our time. Whether it's through a casual conversation during a coffee break or a deep discussion in a panel, each interaction has the potential to spark innovation. At this forum, let's come together to explore how we can leverage our diverse experiences and expertise to create financial solutions that leave no one behind. Register here: https://lnkd.in/d3FtF2up Segun Aina, Chilekwa Banda, Ali Hussein Kassim, Jameelah Sharrieff-Ayedun, Ph.D., Patrick Saidu Conteh PhD, FCCA(UK), MBA, BSc(Hons)., Alex SEA, Kagisho Dichabe, Reuben Mwatosya, Dr. Amira Kaddour 🇹🇳, Josephine Olok, Benazeer Saïdoo, Noha Shaker, Digital Finance Practitioners Association of Zimbabwe, Africa Fintech Network, DRC Fintech Association, Association Fintech Madagascar, Fintech Association Of Nigeria Association For Digital Finance Practitioners - ADFP Zambia, Association of Fintechs in Kenya, Ghana Fintech and Payments Association, Fintech Association of South Africa (FINASA), Mauritius Africa FinTech Hub, Egyptian FinTech Association, Tanzania Fintech Association (TAFINA), FITSPA Uganda, Fintech Association of Botswana, FINTECH.MZ - Mozambique Fintech Association, Alliance of Digital Finance and Fintech Associations Wave Mobile Money, Making Finance Work for Africa (MFW4A), Ripple, Cedar-IBSi Capital & FinTech Lab, Provenir, AFRICA FINTECH FORUM, Ecobank Transnational Incorporated, Cenfri, Africa Digital Financial Inclusion Facility (ADFI)), Digital Pilipinas, International Digital Economies Association

🎺 Countdown begins to another knowledge piece for all Africa fintechs - navigating regulations. please read on below & ensure to signup!

🎺 20th August 2024-webinar on cross border payments & remittances in Africa- how far have we come especially with the advent of digital technologies & innovative technologies like Cloud, Block Chain? Signup below & participate alongside the experts in the field!

Why Fintech is Here to Stay in Nigeria 1. Financial Inclusion and Accessibility - **Bridging the Gap:** Fintech companies are extending financial services to previously underserved communities, driving financial inclusion. Mobile money and digital payment platforms are reaching rural and remote areas where traditional banking infrastructure is lacking. 2. Market Growth and Consumer Demand - High Growth Potential:Nigeria’s fintech sector is a significant part of Africa's fintech market, driven by consumer demand for more efficient and accessible financial services. The sector is projected to grow further, with an annual growth rate expected to reach around $8.73 billion by 2027. - Rising Internet and Smartphone Penetration:The increasing penetration of internet and smartphone usage is a catalyst for the growth of fintech services. This technological accessibility supports the widespread adoption of digital financial services. 3. Economic Necessities Addressing Economic Challenges: With Nigeria facing high inflation rates and foreign exchange volatility, fintech provides innovative solutions that can help mitigate these challenges by improving financial management and access to credit. Adaptation to Regulatory Changes: Despite regulatory hurdles, such as increased application fees for IMTO licenses and stricter customer due diligence requirements, fintech companies are adapting and thriving. The Central Bank of Nigeria's policies are also aimed at strengthening the national economy, which indirectly supports fintech growth. 4. Investment and Funding: Despite a decline in overall funding in 2023, the sector still sees substantial investment, indicating confidence in its long-term growth. Investments from organizations like the IFC in digital infrastructure highlight the ongoing support for fintech expansion. 5. Collaborative Ecosystem - Partnerships with Traditional Banks:Fintech companies are increasingly collaborating with traditional banks to enhance service offerings. These partnerships help bridge the gap between conventional banking and modern financial technology, ensuring a comprehensive financial ecosystem. 6 Agency Banking: Models like agency banking, where fintech companies partner with local businesses to provide essential financial services, are proving successful in reaching financially excluded locations. Conclusion Fintech is well-positioned to remain a vital component of Nigeria’s financial landscape due to its role in promoting financial inclusion, meeting consumer demand, addressing economic challenges, fostering innovation, and collaborating with traditional financial institutions. The sector's adaptability and growth potential underscore its permanence in the Nigerian economy. **References:** [[Fintech 2024 - Nigeria - Chambers Global Practice Guides](https://lnkd.in/dA6w__2U)

Although Nigeria’s tech space wasn’t insulated from the challenges that plagued the global tech ecosystem in 2023, such as venture funding decline and layoffs, it saw positive events and the introduction of enabling policies that bode well for tech innovation in the country. 1. In March, Nigeria became the first African country to roll out open banking regulations which allow banks to share customer data with other financial services providers such as fintechs and mobile money operators. 2. In the same March, a South Western state in Nigeria, Osun, canceled right-of-way fees, allowing telecom companies and internet providers to lay fiber optic cables free of charge. 3. May came with less upbeat developments such as the Central Bank of Nigeria revoking the operating licenses of over 100 financial institutions in the country for non-compliance. 4. In June, Nigeria’s President Bola Tinubu signed the Nigeria Data Protection Bill 2023 into law. The Central Bank of Nigeria also announced new rules that offer beneficiaries of diaspora remittances the option of receiving payments in naira. 5. August saw the appointment of Bosun Tijani, co-founder of CCHub, one of Africa’s most prominent tech hubs, as Nigeria’s minister of communications, innovation and digital economy. 6. In November, Bosun Tijani flagged off the pilot phase of the project designed to train 3 million technical talents. Nigeria also launched its Startup Support and Engagement Portal, which will drive the implementation of the country’s Startup Act. 7. December saw the Central Bank of Nigeria remove the two-year ban on cryptocurrency transactions while introducing stringent guidelines for financial institutions facilitating crypto transactions. Via TechCabal. https://lnkd.in/dM5rBYdA #tech #innovation #regulatoryaffairs #startups #africanstartups

Very important thoughts for Egypt to consider and think of, if we want to see more investments coming to the sector, and better real financial inclusion and value creation for all stakeholders

Unveiling Nigeria's Fintech Revolution: A Tapestry of Innovation and Inclusion 💡💳 In the heart of Africa, Nigeria stands at the forefront of a remarkable financial renaissance, powered by technology. The nation's Fintech revolution has ignited a transformative leap, reshaping the way we bank, transact, and envision financial inclusion. 📱 Nigeria's Mobile Fintech Momentum With over 100 million mobile subscribers, Nigeria boasts a vibrant mobile ecosystem that has fueled an incredible surge in mobile-based financial transactions. This mobile revolution isn't just about convenience; it's about breaking barriers, granting financial access to millions previously excluded from traditional banking services. Mobile wallets and banking apps have become the catalysts propelling financial inclusion to the core of Nigeria's economic agenda. 💡 Fintech Tailored to Nigerian Needs Beyond transactional convenience, Nigeria's Fintech landscape is a mosaic of solutions catering to diverse financial needs. From empowering small businesses through micro-lending platforms to innovative insurance solutions benefiting millions, Fintech here embodies adaptability, meeting the unique financial demands of Nigeria. Savings platforms democratize wealth accumulation, while revamped investment avenues usher in a new era of financial empowerment for all. 🤝 Collaboration: The Fintech Gamechanger Nigeria's Fintech narrative isn't merely disruptive; it's collaborative. Fintech startups aligning with traditional financial institutions have fostered symbiotic relationships, driving innovation, accessibility, and trust. This fusion has redefined Nigeria's financial landscape, blending innovation with security. 🔍 Regulatory Evolution: Balancing Innovation and Oversight Nigeria's adaptive regulatory framework accommodates Fintech's rapid strides while ensuring consumer protection and market stability. This environment nurtures Fintech's growth, providing fertile ground for innovation. 📈 Fintech: Empowering Economic Growth As Nigeria advances, Fintech stands as an economic catalyst, fostering job creation, entrepreneurial spirit, and economic expansion. It's not just about technology; it's about actively involving Nigerians in the economy's fabric. Looking Ahead: A World of Opportunities The Fintech journey in Nigeria holds endless possibilities. From blockchain's potential to empowering the unbanked, opportunities abound, promising to redefine Africa's financial landscape. In essence, Nigeria's Fintech evolution isn't just about technological advancements; it's a saga of financial inclusion, innovation, and collaborative progress—an integral chapter in Nigeria's economic transformation. Join the conversation, share your insights, and be a part of Nigeria's Fintech story! 🌍💬 #FintechNigeria #InnovationInFinance #EconomicTransformation