• About
  • Advertise
  • Careers
  • Contact Us
Friday, June 27, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Fintech

Digital Jewels, Africa Fintech Network Discuss Navigating Fintech Regulations

by Adetunji Tobi
September 21, 2024
in Fintech
0
Africa Fintech Network and Digital Jewels Africa
Africa Fintech Network | Digital Jewels Africa

Africa Fintech Network | Digital Jewels Africa

UBA
Advertisements

In a joint effort to address the growing complexities of regulatory compliance in the African fintech sector, Digital Jewels, in collaboration with the Africa Fintech Network, hosted a highly informative webinar titled: “Navigate and Comply with Regulations with Ease through International Standards and Industry Frameworks: Fostering a Culture of Transparency and Accountability.”

The online event attracted key players from the fintech industry, providing valuable insights into the complexities of regulatory compliance.

The fireside chat featured esteemed industry leaders, including Mitchell Elegbe, Group Managing Director/CEO of Interswitch Group, and Ali Hussein Kassim, chairman of the Association of Fintechs in Kenya.

During her opening remarks, Adedoyin Odunfa,, Digital Jewels CEO, expressed her enthusiasm on the collaboration between Digital Jewels and the Africa Fintech Network,

“This partnership with the Africa Fintech Network marks a significant step forward in addressing regulatory challenges. We believe that international standards can help FinTechs comply with ease while fostering a culture of transparency and accountability. The insights shared here today will undoubtedly benefit everyone in the fintech ecosystem.”

The event kicked off with a presentation from Tokunbo Taiwo, Group Executive Director and CTO of Digital Jewels, who mapped out the evolution of fintech, highlighting the sector’s rapid growth drivers, such as financial inclusion initiatives, the shift away from cash transactions, and increased funding for innovation. He also outlined the operational challenges that fintech organizations face and stressed the importance of regulatory compliance as a key driver for growth.

“Fintech in Africa is growing at an unprecedented rate, ranking in the top 10 globally and 3rd in Nigeria. This growth is fueled by a young, urbanizing population, increased digital penetration, and the post-COVID acceleration of digital services,” noted Taiwo. He also emphasized the importance of frameworks like ISO 27001 and PCI-DSS, which allow companies to create a unified compliance system that satisfies both local and international regulatory requirements.

Mitchell Elegbe, Group Managing Director/CEO of Interswitch Group, in his fireside chat with Digital Jewels CEO, reflected on Interswitch’s journey and how strong corporate governance played a pivotal role in the company’s rise to become Africa’s first unicorn. “Back in 2002, we faced significant challenges in gaining trust as a payment company in Nigeria. It was critical for us to be ahead of the curve with compliance and governance to build trust with both customers and regulators. That decision ultimately saved us and allowed us to grow into what we are today,” Elegbe remarked. He also appreciated Digital Jewels for helping Interswitch adopt global best practice standards, which significantly improved their operational efficiency and security.

Ali Hussein Kassim, an entrepreneur and advocate for tech policy and Chairman of the Association of Fintechs in Kenya, shared his perspective and pointed out that Kenya and East Africa, despite being pioneers in mobile money and financial inclusion, still lag behind in adopting global best practices.

“The most interesting tech engagement and evolution will be the meshing of regtech and subtech so that we don’t have these humongous reporting structures every month to policy makers and regulators. It can be real time.” He explained how this technological shift could allow for more agile compliance processes, benefiting both fintech companies and regulators.

In her concluding remarks, Adedoyin Odunfa, emphasized the importance of proactive regulatory compliance in the fintech space for sustainable growth and pervassive impact.

Africa Fintech Network and Digital Jewels Africa
Advertisements
MTN ADS
Speakers

“Ignorance is not an excuse under the law, so it’s crucial that fintechs stay informed and ahead of the regulations they need to comply with. Don’t wait for the regulator to catch up with you. Being ahead of regulation is not just about compliance—it’s about positioning yourself competitively in the market,” She stated.

In addition to the success of this webinar, there is already significant buzz about the second part of the series, which is set to take place next Tuesday, focusing on the East African fintech landscape. This follow-up session promises to address region-specific regulatory concerns while building on the broader strategies covered in the initial webinar.

Loading

0Shares
Tags: Africa Fintech NetworkAli Hussein KassimDigital Jewels
Adetunji Tobi

Adetunji Tobi

Tobi Adetunji is a Business Reporter with Techeconomy. Contact: adetunji.tobi@techeconomy.ng

Next Post
GOCOP Sponsors

NNPCL, NLNG, FIRS, others Partner GOCOP for 2024 conference

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Malebu Makgalemela Mogohloane on humans and Robots

Why Humans Should Consider Granting Rights to Robots

1 year ago
trusteeship

Trusteeship is for Everyone, Including You

1 year ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.