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How FinTech is Accelerating Positive Transformation of Banking in Africa

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The FinTech space in Africa is observing rapid advancement as innovative new financial services players disrupt the traditional modalities of banking across the continent.

Finnovation Kenya 2019, which will be held on the 18th June 2019 at the Mövenpick Hotel Nairobi, will gather international FinTech experts and leaders together with African pioneers, investors, government policymakers, entrepreneurs and leading bankers to harness the FinTech revolution to boost strategic economic priorities such as financial inclusion – and how FinTech can make a positive and profitable difference in Africa.

The event will also explore how the major banks and financial institutions on the continent are addressing the digital transformation of financial services and how their own digital innovations are being shaped and accelerated as a result of the gathering momentum of FinTech disruptors, register at Finnovation Kenya 2019.

The unique environment for financial services in Africa is fertile ground for innovative FinTech players who are capitalising on the opportunities to disrupt or leapfrog established business models to make financial services more affordable, accessible and profitable across the continent.

Finnovation Kenya 2019 is delighted to welcome a stellar list of keynote speakers, including Chris Principe, CEO of Solidus Global, Ltd and Publisher of FinFuture & Financial IT; Jeremy Awori, Managing Director Barclays Bank of Kenya Ltd; Billy Owino Chief Executive Officer TransUnion; Wyckliffe Shamiah, Director Market Operations of Capital Markets Authority; Timothy Nuy, Chief Executive Officer MyBucks; Declan Magero, Founding Partner of Afrinet Capital; Mumo Musembi, Group Chief Business Officer of Cellulant.

The opening keynote session will define directions on Aligning the Role of Government Policymakers, Banks, FinTech Innovators, Investors, Multilateral Agencies, MNOs and the Private Sector to Advance the FinTech Ecosystem in Africa.

Chris Principe, CEO of Solidus Global, Ltd and Publisher of FinFuture & Financial IT, speaking ahead of his participation in the event, said that: “A very positive story, if one that is not yet well understood, is unfolding in Africa. New technology, new ideas and new business models are producing new opportunities. The distinctions between telecom services providers, payments services providers and financial institutions are breaking down. In virtually all African countries, there are sufficient numbers of mobile phones ‐ which are not necessarily smartphones ‐ for previously unbanked people to have access to high-quality financial services at low cost.

“Innovative companies are using Blockchain technology and cryptocurrencies to resolve fundamental problems such as lack of access to electricity and lack of access to global financial markets. Finnovation Africa highlights how FinTech is transforming Africa for the better, facilitating payments, boosting financial inclusion and developing new enterprises. However, the conference does much more than that, as it engages key stakeholders to reveal how the entire world is changing. In many ways, Africa is a FinTech leader, rather than a follower.”

Finnovation Kenya 2019 will also provide a platform to connect innovative start-ups with leading investors in the African FinTech space and the Wolves’ Den session is one of the most dynamic features of the event. The Wolves’ Den enables innovative FinTech start-ups and trail-blazers to real-time test the positive impact of their solutions. A panel representing savvy Investors/Venture Capitalists and seasoned African Fintech

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Pioneers will evaluate the business model of each chosen start‐up or trail‐blazer in a high-stress 10-minute “elevator pitch” to the “Wolveswho will ask the tough questions and provide the illuminating insights.

Speaking ahead of his participation in Finnovation Kenya 2019,  Victor Ndlovu, Country Manager, Senior Business Leader of Visa said that, “Kenya is at the forefront of leading that digital payments revolution and for us (card payments firms), that depends on how we push. With all these digital options, and considering Nairobi is the world capital for mobile payment innovation, Digital payments are preferred because of convenience, reduced transactional cost, and speed of execution — compared to manual or cash-handling processes.

“We monitor trends around and appreciate that East Africa has adopted the mobile more than it has adopted cards, so it actually becomes very effective to be able to reach that segment. At Visa, we are keen on being part of the everyday life of our customers. With the ever-changing face of monetary transactions: cards and online dealings, customers have become more tech-savvy, decisive and particular about their overall experience while transacting.

“To this end, Visa’s operations in Africa are firmly based on bringing about innovative products that promote safe and convenient transactions. Industry leaders from across the African and global FinTech industry will gather at 2nd Edition of Finnovation Kenya to harness the growing momentum around digital financial services into more inclusive and productive economies across the world”.

Register for the Event At https://bit.ly/2HG4ZTL and for further details, please contact: Sanay Lalwani, Vice President: Media & Marketing at Finnovation World on sanaylalwani@finnovationworld.com.

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