FinTech’s Impact for Africa: Re-Imagining Financial Services
FinTech players have the ability to accelerate the digital transformation of financial services in Africa
As a result of their unique blend of trailblazing technology and disruptive innovation, FinTech players have the ability to accelerate the digital transformation of financial services in Africa and, in turn, spur existing banks to rapidly ramp up their own innovative approaches to meet the financial needs of underserved markets across the continent
FinTech players are increasingly becoming an important part of the fabric of Africa’s financial services industry. In addition, the leading banks on the continent are now harnessing innovative technology to meet market needs and are also collaborating with FinTech start-ups to help them connect with underserved consumers, improve financial inclusion and provide a platform to scale much faster.
Combining a highly innovative and interactive event format with world‐class speakers and more than 200 carefully selected participants, Finnovation Africa: Uganda 2017, to be held at the Sheraton Kampala on 7 April, will tackle the most pressing questions for the progress of FinTech and banking in Africa; providing a platform for all stakeholders to engage in creating the future of ﬁnancial services on the continent, from established banking powerhouses to FinTech start‐ups.
Finnovation Africa: Uganda 2017 is delighted to welcome Chris Principe, CEO of Chain2Trade, Inc. and Founder of FinFuture magazine & Financial IT magazine as an international keynote speaker. US-based Chris will provide international insights on Harnessing the Impact of FinTech to Deliver Constructive Economic & Social Outcomes for Africa – What makes FinTech in Africa Unique.
Chris is a futurist interested in the use of cryptocurrencies powered by blockchain technology as a reserve currency for global trade and to provide alternative financial power to people and business. Chris will also speak in a session dedicated to blockchain wherein he will give insights on Unblocking the Potential of Blockchain in Africa. In addition to this, Chris will also be a part of the Leader’s Dialogue Live! keynote interview session where he will conduct a live onstage one-on-one discussion with Evans Munyuki, Chief Digital & Information Officer (CDIO) of MyBucks on the FinTech revolution in Africa; it’s impact and outcome.
Chris Principe will also moderate The Wolves’ Den, one of the most innovative features of Finnovation Africa: Uganda 2017, which will enable FinTech start-ups and trailblazers to real-time test the positive impact of their solutions against a seasoned panel of FinTech experts, and build their expert feedback into the further development of their business model.
Evans Munyuki, Chief Digital & Information Officer (CDIO), MyBucks; Dr. Dan Marom, CEO & Co-Founder, Irrational Innovations; Aaron Fu, Managing Partner, Africa, NEST.vc; Nyasinga Onyancha, CEO & Co-Founder, SimbaPay; and Ken Njoroge, CEO, Cellulant will participate in this session as five expert “Wolves” who will ask the tough questions and provide the illuminating insights during the Wolves’ Den session.
Speaking ahead of his participation in Finnovation Africa: Uganda 2017, Konstantin Peric, Deputy Director, Financial Services for the Poor at the Bill & Melinda Gates Foundation, said that: “Industry leaders from across the African and global FinTech industry will gather at Finnovation Africa: Uganda 2017. There they will harness the growing momentum around digital financial services into more inclusive and productive economies across sub‐Saharan Africa. As the formal economy grows, we see individuals, communities, and nations prosper, global and national leaders make progress on other key growth and development goals. When unbanked and underbanked families have access to digital financial services, everyone benefits.”
Building on the social impact of FinTech, Dr Dan Marom, CEO & Co-Founder of Irrational Innovations, noted that: “Lack of access to financial services, high mobile penetration, and strong entrepreneurial spirit are some of the key reasons behind the acceleration of financial services penetration in Africa; some of the most innovative FinTech and banking solutions are being developed in and for the region.
“Additionally, financial inclusion is a key strategic priority in Africa and FinTech can play a vital role in further expanding access to financial services. There is an opportunity to change people’s lives while building scalable profitable companies that consumers need and want. Recent research has revealed that almost a third of the money invested in African start-ups was consumed by new FinTech firms and the Finnovation Africa: Uganda 2017 event has created a unique platform for these start-ups and trailblazers, the broader FinTech ecosystem, as well as traditional banks to engage and learn from each other.”
Finnovation Africa: Uganda 2017 will take place at the Sheraton Kampala Hotel in Uganda on 7 April and will gather all stakeholders and influencers in the banking and FinTech ecosystem from the key markets across Africa and internationally.