The Digital Transformation of Banking - Driving Constructive Economic Outcomes from the FinTech Ecosystem in Africa
As a result of their potent blend of trail-blazing technology and disruptive innovation, FinTech players have the ability to accelerate the digital transformation of financial services in Africa and, in turn, further spur the major existing banks to rapidly ramp-up their own innovative approaches to meet the financial needs of under-served 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 better connect with under-served consumers, improve financial inclusion and provide a platform to scale much faster.
Finnovation Africa: Ethiopia 2018 is a very different kind of event, a complete re-boot, for a very different kind of industry. Deconstructed and shorn of all the usual, tired formats of the traditional convention – and built from the ground up as a genuinely new event that is as ground-breaking in its focus as it is in its format - and aspiring to be as innovative and transformative as the dynamic FinTech market it serves.
Combining a highly innovative and interactive event format with world‐class speakers and more than 300 carefully selected participants, Finnovation Africa: Ethiopia 2018, to be held at the Radisson Blu Addis Ababa on the 1st of November 2018, will tackle the most pressing questions for the progress of FinTech and the positive and profitable transformation of 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.
Chris PrincipeCEO Chain2Trade, Inc. Publisher FinFuture & Financial IT
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 crypto‐currencies 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.
Mountaga DiopFounder & CEO BelCash
Speaking ahead of his particiation in Finnovation Africa Series, Mountaga Diop, Founders & CEO, Belcash said that: “Industry leaders from across the African and global FinTech industry will gather momentum around digital financial services into more inclusive and productive economies across Sub-Saharan Africa”
Mr. Diop continued by saying “As the formal economy grows we see individuals, communities and nations prosper and make progress on strategic growth and development priorities. When unbanked and underbanked communities have access to digital financial services, everyone benefits and FinTech can play vital role in driving financial inclusion imperative across the continent. there is an opportunity to change people’s lives while building scalable, profitable companies that consumers need and want.”
Aaron FuManaging Director MEST
Further emphasized the role that Africa is playing on the global FinTech stage from the perspecve of an early stage investor in FinTech start‐ups on the connent: "Africa is not just a desnaon for global FinTech innovaon but is increasingly the birthplace of FinTech which has scaled to other emerging markets across the world. We're really excited to connue accelerang African FinTech scaling to the world.
Munir DuriCEO Kiﬁya
The FinTech sector is driving disrupve innovaon and transforming the ﬁnancial services landscape across the connent. We look forward to sharing our perspecves on how the rapid growth in the applicaon of ﬁnancial technology is providing a plaorm to enable payments and increase access, helping the drive to digital ﬁnancial services.
Murad QubbajAssociate Director, Business Channels Development Pio-Tech
Murad Qubbaj, Associate Director Business & channels Development of Pio-Tech, speaking ahead of his parcipation in the event, said that: “A combination of limited access to financial services, high mobile penetration and strong entrepreneurial spirit are some of the key reason behind the acceleration of financial services innovation in Africa with some of the most innovative FinTech and banking solution being developed in and for the region. 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 FinTech Africa Series: has created a unique platform for these start-ups and trail-blazers, the broader FinTech ecosystem, as well as the incumbent banking powerhouses across Africa to engage and learn from each other.”
Finnovation Africa: Ethiopia 2018 will gather all stakeholders and inﬂuencers in the African FinTech value chain from the key markets across Africa and internationally and will seek to better align FinTech directions and initiatives in Africa with the strategic economic priorities and requirements of key countries – and provide a roadmap of how the banking and ﬁnancial services industry across the continent can make even greater strides towards a positively transformed future.
But don’t just take our word for it! Hear directly from our clients on how our events have created value for our partners, speakers, delegates, sponsors, exhibitors and media participants:
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