Oganised by CreditRegistry, Africa Credit Expo 2023 is championing large-scale consumer and SME lending in Africa’s financial sector. This was the root of Ayedun’s presentation, shedding light on the vast wealth lying dormant in Nigeria, juxtaposed against the continual borrowing by the government to sustain the economy. 

He emphasized the untapped potential within the country’s unregistered assets, labeling them as “dead capital.”

“Right here in Nigeria, we have abundant wealth… yet created wealth is dead. And I’ll show you what we can do to try and integrate wealth.” 

The term “dead capital” referred to assets lacking legal registration, hindering their full economic utilisation. Ayedun elucidated the impact of unregistered properties, particularly homes, on Nigeria’s economic potential. He drew from the ideas of Peruvian economist Fernando De Soto, emphasizing the role of property titles in distinguishing developed economies from developing ones.

“What separates economies like the United States from developing markets is the fact that many other countries have titles, and those titles are actually the backbone of the whole power of capital.” Taiwo Ayedun said.

Ayedun’s comprehensive breakdown highlighted the various repercussions of unregistered properties: restricted access to credit, reduced transactional capabilities, diminished investment opportunities, and inhibited economic growth due to the absence of property tax revenues.

The Potential of Dead Capital

Ayedun delved into the estimated value of dead capital in Nigeria, quantifying it to approximately 450 trillion Naira. To unlock this potential wealth, he proposed various measures, pointing out the simplification of property registration processes and the promotion of title insurance companies to ensure secure transactions.

He outlined a strategic roadmap to revitalise dead capital, advocating for:

1. Simplified Registration: Proposing streamlined and efficient registration processes, reducing obstacles for homeowners.
2. Promotion of Title Insurance: Highlighting the role of title insurance companies in securing transactions and validating property titles, fostering confidence in investments.
3. Creation of Mortgage Liquidity: Introducing mechanisms like mortgage-backed securities and mortgage servicing rights to infuse liquidity into the market, attracting long-term investors and enabling banks to offer more mortgages.

The founder of CreditRegistry stressed the role of government policies in harnessing the latent potential of dead capital. The need to ensure every Nigerian home obtains a title, implement efficient registration systems, and foster liquidity in the market is important for Nigeria to potentially witness a solid economic transformation.

“Let us put pressure on our government, disseminate what you’ve learned, and collaborate to create wealth collectively.” 

Ayedun’s presentation at Africa Credit Expo 2023 was a roadmap for Nigeria’s economic prosperity, keying into the untapped potential within dead capital and igniting a dialogue for transformative change in property registration and financial systems.

Dr. Jameelah Sharrieff Ayedun, the Managing Director and CEO of CreditRegistry, announced this development during the event.

Dr. Ayedun articulated the significance of this initiative, emphasizing its continuity beyond the Expo. She expressed, “The Africa Consumer Credit Academy is our commitment and promise that the learning imparted here today will extend far beyond this moment. We aspire to make this learning accessible, commencing right here in Nigeria.”

Collaboration was identified as a key component in the initiative’s expansion. Dr. Ayedun highlighted the support of significant entities like the Africa Export Import Bank, affirming, “With the support of organizations like the Africa Export Import Bank, our objective is to extend this initiative across the African continent.”

The Academy’s goal is to equip individuals with the necessary tools and support to make informed financial decisions.

Dr. Ayedun stressed the importance of leveraging proper resources and support, aligning with earlier discussions, to ensure prudent financial decision-making. Addressing the audience, she encouraged active participation, stating;

“For those serious about managing their finances, we welcome you to engage with today’s session and join us at the Africa Consumer Credit Academy.

At the event, Dr. Ayedun officially declared the Africa Consumer Credit Academy open, symbolising a gateway to comprehensive financial education and empowerment for individuals across Africa.

The launch of the Africa Consumer Credit Academy is a big step towards fostering financial literacy and empowering individuals across the continent.

It embodies a dedication to provide ongoing educational resources and support, beyond geographical boundaries and fostering a financially responsible populace.

The Africa Credit Expo 2023 is packed with loss of opportunities including becoming pre-approved for a loan, learning about the latest credit products, and attending masterclasses on a variety of financial topics.

ACE 2023 marks a significant milestone as the first-ever credit conference and exposition in Africa, dedicated to expanding large-scale consumer and SME lending.

The event will consist of a one-day expo for consumers in Lagos and a pioneering annual summit for lenders in Lomé, Togo, on the 16th of November 2023 in collaboration with AFIS.

Registration is officially open for the highly anticipated Africa Credit Expo (ACE) 2023, a groundbreaking event set to take place in Lagos, Nigeria on the 15th of November 2023.

Why Attend Africa Credit Expo 2023

ACE 2023 is designed to empower attendees to take control of their financial future through the use of credit. This remarkable event offers numerous opportunities to:

• Get pre-approved for a loan from multiple lenders

• Learn about the latest credit products and services

• Meet with financial experts and get one-on-one advice

• Attend masterclasses and seminars on a variety of financial topics

• Network with fellow attendees, lenders, and industry professionals who can assist you on your journey through the world of credit.

• Win gifts and prizes that can change your life

Event Details

Day 1: Lagos, Nigeria – November 15th, 2023

This B2C event is tailored to bring together over 1,000 consumers and MSMEs seeking credit with more than 25 premier lenders and exhibitors. This presents an excellent opportunity to generate leads, showcase products and services, and close deals on the spot.

Event highlights include:

• Full-day expo for consumers and SMEs to meet with exhibitors.

• Opportunities for lenders to meet one-on-one with pre-qualified Tier 1 borrowers seeking credit.

• Consumer Certification Workshops on budgeting, understanding credit, and managing finances with exclusive access to qualified lenders.

• Breakout tracks featuring professionals in savings, investment, family business planning, ideation, 1st-time borrowing, and more.

• Live demonstrations to generate leads.

• Three Consumer Workshops: Level 1 Credit Certification for first-time borrowers, Preparing your MSME business for foreign exchange, and Multiplying Your Wealth using Credit.

• VIP opportunities to meet celebrity guests and enjoy backstage access to music artists. – VIP seating at the closing entertainment in Lagos, featuring guest artists.

Day 2: Lomé, Togo – November 16th

This B2B event is tailored for credit professionals, including lenders, CEOs, FinTech companies, and solution providers. It provides a platform to share best practices and innovative solutions to help lenders grow their consumer and SME retail loan portfolios.

Event highlights include:

• Keynote speaker and practical guidance from speakers on critical topics, including Fintech, employee recruitment and retention, marketing, sales, loan processing, compliance, leadership development, and more.

• General sessions, small-group roundtable discussions, idea exchanges, live demos, networking opportunities, and more.

• Solution providers showcasing new technologies and systems to assist lenders in their growth.

How to Register

Spaces are limited, so early registration is strongly encouraged to secure your spot and take the first step towards financial empowerment. Please visit the website for more information and to register.

Africa Credit Expo 2023 is proudly brought to you by CreditRegistry and AFIS.