Nigeria Fintech Week – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Mon, 15 Sep 2025 19:24:11 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png Nigeria Fintech Week – Tech | Business | Economy https://techeconomy.ng 32 32 FinTechNGR Unveils Theme and Next-Level Experience for Nigeria Fintech Week 2025 https://techeconomy.ng/fintechngr-unveils-theme-and-next-level-experience-for-nigeria-fintech-week-2025/ https://techeconomy.ng/fintechngr-unveils-theme-and-next-level-experience-for-nigeria-fintech-week-2025/#respond Mon, 15 Sep 2025 14:17:46 +0000 https://techeconomy.ng/?p=167198 The organizers of Nigeria Fintech Week (NFW25), Africa’s largest fintech gathering, have announced a bold vision for the event’s eighth edition, themed “The Fintech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future.”

Scheduled for October 7–9, 2025, across Lagos, Abuja, and Enugu with hybrid global participation, NFW25 will bring together more than 20,000 innovators, policymakers, creators, regulators, investors, and professionals to explore how fintech powers every industry, from healthcare and agriculture to entertainment, transport, media, and education.

“This year’s theme reflects fintech’s transformation from a niche financial solution to the conductor of Nigeria’s entire economic orchestra,” said Dr. Jameelah Sharrieff-Ayedun, Vice President of the Fintech Association of Nigeria (FinTechNGR). “From enabling micro-insurance for healthcare, powering transaction-based credit for smallholder farmers, to boosting the creator economy with seamless payouts, making transport and retail transactions traceable and safer, and more.”

“We’re reimagining the conference experience to offer a more unique, participant-led journey. That is why the conference will have multiple simultaneous tracks. Each track is tailored to different ecosystem actors – policymakers, innovators, corporates, creators, SMEs, and youth. Our digital future works only when every instrument in the orchestra plays in harmony.”

What to Expect at NFW25

  • 20+ Thematic Tracks designed for 20,000+ ecosystem actors, including policymakers, innovators, creators, SMEs, and youth
  • Global Networking & Investment Opportunities with high-level regulators (CBN, SEC, NDIC, NITDA, NIMC, and more)
  • Innovation Showcases & Live Demos from leading fintechs and disruptors
  • Youth & SME Capacity-Building Workshops to prepare the next generation of industry leaders
  • Special Highlights, including the Most Interesting Fintech of the Year reveal and industry performances

“Fintech powers everything, and NFW25 is where Nigeria’s future is co-created, so we are inviting everyone, from innovators to end-users, to be part of this symphony,” added Mr. Seun Folorunsho, executive secretary of the Planning Committee. 

Key Details

Dates: October 7–9, 2025
 Venues:

  • Lagos: Landmark Centre (Main Event)

  • Abuja: Royal Choice Hotel, CBD

  • Enugu: Hotel Sunshine, Plot C5, Presidential Road, Ogui
     🌍 + Hybrid Global Access

Registration for NFW25 is 100% free but highly competitive, with priority access given to early registrants due to expected demand across specialized tracks. Click here to register.

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Nigeria Fintech Week 2025 to Spotlight Bold Innovation, National Inclusion across Multi-City Experience https://techeconomy.ng/nigeria-fintech-week-2025-to-spotlight-bold-innovation/ https://techeconomy.ng/nigeria-fintech-week-2025-to-spotlight-bold-innovation/#respond Wed, 23 Jul 2025 19:14:43 +0000 https://techeconomy.ng/?p=163696 Nigeria Fintech Week (NFW) is set to return from October 7–9, 2025, with a bold new format that reflects its growing impact on Africa’s digital economy.

Unveiled at a press briefing on July 23, the 8th edition, dubbed “The Fintech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future”, aims to bring together over 20,000 participants from across sectors and regions.

Organised by the Fintech Association of Nigeria, NFW25 will explore how coordinated efforts between government, startups, corporates, and investors can fast-track innovation and financial inclusion across the continent.

“This is no longer just an event. It’s a movement,” said Dr. Stanley Jacob, president of the Fintech Association of Nigeria. “NFW25 will be where new partnerships are forged, sectors transformed, and the future of Nigeria’s digital economy is composed like a symphony.”

For the first time, Nigeria Fintech Week will span multiple locations, Abuja, Delta, and Enugu, before culminating at the Landmark Centre in Lagos.

The multi-city format is designed to widen participation and showcase the reach of fintech across Nigeria’s geopolitical zones.

According to Dr. Jameelah Sharrieff-Ayedun, vice president and chair of the Organising Committee, the expansion reinforces NFW’s commitment to accessibility and grassroots innovation. “Fintech is for everyone now, from farmers to students, from SMEs to regulators,” she said.

Uche Uzoebo, CEO of the Shared Agent Network Expansion Facilities Limited (SANEF) added, “Even churches, schools, and food vendors are digitising. NFW25 is where they’ll find solutions, partners, and tools to grow.”

Nigeria Fintech Week has grown since 2017 into Africa’s leading fintech gathering, driving policy shifts, investment, and digital transformation.

With this year’s expansive approach, the stage is set to orchestrate an even more inclusive and impactful digital future.

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Innovation, Investment and Collaboration Essential for Nigeria’s Fintech Growth – Branka Mracajac https://techeconomy.ng/innovation-investment-and-collaboration-essential-for-nigerias-fintech-growth-branka-mracajac/ https://techeconomy.ng/innovation-investment-and-collaboration-essential-for-nigerias-fintech-growth-branka-mracajac/#respond Thu, 17 Oct 2024 08:24:50 +0000 https://techeconomy.ng/?p=145664 Branka Mracajac, the CEO of 9 Payment Service Bank (9PSB), has emphasized the critical importance of innovation, increased investment, regulatory support, and collaboration among stakeholders in driving the growth of Nigeria’s fintech ecosystem.

She made the remark at the 2024 Nigeria Fintech Week held in Lagos, recently.

The three-day event themed: Positioning Africa’s Fintech Ecosystem to Accelerate Inclusive growth’, brought together industry leaders to discuss strategies for leveraging generative Artificial Intelligence and transitioning from revenue-driven to profitability-focused business models.

In a keynote address – Powering Nigeria’s Fintech Ecosystem to Accelerate Growth, Branka Mracajac, highlighted that as Nigeria stands at the forefront of the fintech revolution in Africa, the market has experienced significant advancements.

She said the influx of startups and foreign investments is redefining how financial services are delivered.

“Innovations such as digital and mobile wallets are addressing the financial needs of millions of Nigerians”, Mracajac reiterated.

Branka Mracajac and Fintech
L-r: Seun Folorunso, Assistant General Manager, Fintech Association of Nigeria; Branka Mracajac, Chief Executive Officer and Managing Director, 9 Payment Service Bank (9PSB); Inemesit Ekong, Team Lead, Marketing Communications, 9PSB, and Akeem Salam, Group Head, Business Development and Strategy, 9PSB, at the 2024 Nigeria Fintech Week held recently at Landmark Event Centre, Victoria Island, Lagos.

However, to sustain this momentum, she opined it is essential to address several challenges. With over 28 million adults lacking access to essential financial services, enhancing digital infrastructure and improving connectivity are critical. Furthermore, the affordability and accessibility of fintech products must be prioritized to ensure that all Nigerians can benefit from these advancements.

In her words,

“building trust with consumers is paramount. The fintech sector must ensure reliable data practices and provide educational resources to enhance understanding of available services. While the Central Bank of Nigeria and other regulatory bodies have taken significant steps to foster innovation, continued efforts are needed to protect consumers and create a supportive environment for industry growth.

The robust investment capital entering the fintech sector presents a tremendous opportunity for innovation. Numerous startups are emerging, ready to address the diverse needs of the population. To fully realize this potential, deeper collaboration and partnerships across the industry are essential.”

“The future of Nigeria’s fintech landscape is bright, but achieving its full potential requires a united effort and innovative thinking from all stakeholders. Together, the industry can accelerate growth and transform the financial services sector in Nigeria”, Mracajac added.

The Nigeria Fintech Week (NFW) is an annual event and a platform that provide opportunities for players and other stakeholders to come together, engage, share innovative knowledge, and experience that will drive the industry forward.

Branka Mracajac and Fintech
Chief Executive Officer and Managing Director, 9 Payment Service Bank (9PSB) Branka Mracajac (Middle) and other staff of 9 Payment Service Bank (9PSB) at the 2024 Nigeria Fintech Week held recently at Landmark Event Centre, Victoria Island, Lagos.

9 Payment Service Bank (9PSB) is a registered Nigerian bank operating under the approval of CBN to provide unique banking services to the underbanked, and unbanked, as well as innovative services to individuals with bank accounts.

9PSB operates as a fully digital bank and runs its agency network. 9PSB is a bank for everyone accessible by everyone and offers seamless online & offline banking experience.

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FintechNGR Unveils Line-up of Speakers for Nigeria Fintech Week 2024 https://techeconomy.ng/fintechngr-unveils-line-up-of-speakers-for-nigeria-fintech-week-2024/ https://techeconomy.ng/fintechngr-unveils-line-up-of-speakers-for-nigeria-fintech-week-2024/#respond Mon, 23 Sep 2024 04:18:07 +0000 https://techeconomy.ng/?p=143658 The Fintech Association of Nigeria, an industry-led organization that represents and promotes the interests of the fintech sector in Nigeria, has announced a line-up of high-profile local and international speakers for the 7th edition Nigeria Fintech Week, which is scheduled to take place between October 8-10 2024 at The Landmark Centre in Lagos.

Nigeria Fintech Week is the largest fintech event in Africa. Over the last six editions, the event has attracted more than 20,000 participants, more than 500 brands and representatives from more than 50 countries to explore trends, foster collaboration and shape the future of Africa’s dynamic and rapidly evolving fintech industry.

This year’s theme – “Positioning Africa’s Fintech Ecosystem to Accelerate Inclusive Growth” – underscores the critical role of financial technology solutions in driving much-needed economic expansion and development. Talking points will include corporate governance, Generative AI, Smart Regulation, Digital Assets, Risk Management and cybersecurity/fraud management, digital and economic inclusion, and other relevant topics.

This year’s event will be a hybrid event (online and in-person) and it is expected to host more than 20,000 attendees from more than 80 countries, as well as more than 100 speakers and more than 50 exhibitors.

The event will also include an investor forum where startups can pitch to select investors, a job fair for interactions between employers, recruiters and job seekers, opportunities for one-to-one meetings with regulators and other opportunities.

Rodger Werkhoven, Independent Creative Director at OpenAI has been confirmed as one of the keynote speakers

Other confirmed speakers include, Temi Popoola, Group CEO of Nigeria Exchange Group, Dr Aminu Maida, Executive Vice Chairman/Chief Executive Officer of the Nigerian Communications Commission (NCC), Dr Emomotimi Agama, Director General of Securities & Exchange Commission, Temitope Ajanaku, Group CFO Xpress Payments, Nimide Falasinu, Vice President, Client Experience at Zest Payment, Dr Kashifu Inuwa Abdullahi, Director-General/CEO of the National Information Technology Development Agency, Gbolayo Atoyebi, Head, FSI Sales at Mainone, Mujib Ishola Executive Director/CTO of Remita, Dr. Chinasa T. Okolo, Fellow at The Brookings Institution, Ifeoluwa Adekunle-Yusuf, Vice President, Product and Engineering at Zest Payments, James Edeh, Head of Compliance at FairMoney Microfinance Bank, Branka Mracajac, CEO of 9 Payment Service Bank and Adetoyese Adedokun, Director at Maycode. Other speakers from The Central Bank of Nigeria, Interswitch, Unified Payments, PalmPay and more will be confirmed shortly.

Speaking ahead of the event, Dr Babatunde Obrimah, COO, FintechNGR said;

“Since we started in 2017, Nigeria Fintech Week has emerged as the premier platform for advancing the African financial technology ecosystem, bringing together key stakeholders to ensure that fintech innovation continues to drive sustainable economic development on the continent. Our aim for this year’s event is to drive impactful conversations on key topics such as Artificial Intelligence, digital assets, governance and financial inclusion, all while fostering collaboration that will shape the future of fintech in Africa. We look forward to welcoming participants from around the world for what promises to be our most transformative event yet.”

The event is free to attend. However, registration is necessary. Interested participants can find out more information or register to attend.

 

Nigeria Fintech Week 2024 will be delivered in collaboration with Africa Fintech Network, Maycode and Talking Drum Communications.

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Remita; Once a Failed Project in 2005, Now Processes Transactions Valued over $50bn https://techeconomy.ng/remita-once-a-failed-project-in-2005-now-processes-transactions-valued-over-50bn/ https://techeconomy.ng/remita-once-a-failed-project-in-2005-now-processes-transactions-valued-over-50bn/#respond Sun, 05 Nov 2023 23:10:50 +0000 https://techeconomy.ng/?p=117403 Remita Payment Services Limited (RPSL), a stalwart in the financial technology (fintech) industry, has yet again demonstrated its unwavering commitment to advancing the sector as a sponsor of the sixth edition of the Nigerian Fintech Week, held recently in Lagos.

Nigeria Fintech Week has earned the reputation of being Africa’s foremost assembly of Fintech pioneers and innovators, dedicated to fostering significant innovations, strategic collaborations, and transformative developments within the ecosystem.

In line with its steadfast commitment to advancing the financial sector, Remita participated in the event as a sponsor and exhibitor, with its Managing Director delivering a keynote address.

Remita at Nigeria Fintech Week
L-r: Olatunji Ayodabo, Senior Vice President, Retail, Remita; Ademola Igbalajobi, Managing Director, SystemSpecs Technology Services Limited; Chika Nwogu, Head of Strategy Management Office, Remita; and ‘Deremi Atanda, Managing Director, Remita; at the 2023 Nigeria Fintech Week Event, held in Lagos, on Tuesday, October 24, 2023.

During the second day of the Nigeria Fintech Week, ‘Deremi Atanda, the Managing Director of Remita, highlighted the importance of embracing experimentation, fostering a culture of risk tolerance, and viewing failure as a means for rapid learning and innovation in his keynote address titled ‘Fail fast, Learn faster: Embracing failure as a path to success.’

He said, “In our pursuit of innovation, we must understand that success is often paved with failures. Therefore, we must consciously embrace experimentation, liberate ourselves from the constraints of a single framework, and use every setback as a stepping stone to progress.

Remita, once a failed project in 2005, now processes over $50 billion and millions of transactions. Indeed, failure is not a hindrance but a steppingstone to progress.”

As the fintech landscape in Nigeria and worldwide continues to evolve over the coming years, the imperative for innovation, adaptability, and resilience becomes increasingly clear.

According to ‘Deremi, companies aspiring to achieve significant success within the sector must consistently embrace new opportunities, engage in partnerships with traditional sectors, and accept the uncertainties that come with transformation.

“The evolving fintech landscape is characterised by a growing middle class, digital adoption, and the democratisation of financial services. It is an environment ripe for change, where businesses can redefine themselves and find success by adapting to the evolving needs of their customers.” He added.

Representing Mr John Obaro, the Group Managing Director (GMD) of SystemSpecs Holdings, in a fireside chat session titled “Building Resilience: Insights from Executives,” Mr Ademola Igbalajobi, Managing Director of SystemSpecs Technology Services Limited (STSL), stressed the importance of addressing customer challenges and delivering satisfaction as the key drivers of success for startups in the fintech sector.

He noted that “The prevailing emphasis in fintech appears to be on fundraising, often overshadowing the essential steps of achieving customer satisfaction and establishing a strong product-market fit. Drawing from our experience, we advise businesses to prioritise these foundational elements before seeking funding. It is imperative to lay solid product groundwork and dedicate concerted efforts to enhance its quality before venturing into discussions with prospective investors.”

 

Likewise, Mr Tokunbo Omonubi, Head of Products at Remita, shared valuable insights during a panel session that centred on effective marketing for business growth and expansion.

He emphasised the importance of creating products and services that have a real impact on consumers and stakeholders in the diverse business landscape of today.

Mr. Omonubi stated, “In today’s diverse business environment, it’s crucial to grasp how these enterprises influence consumers. This understanding forms the basis for establishing a harmonious connection between marketing strategies and product development, ultimately leading to products that authentically address customer needs.”

With a three-decade legacy of leadership, Remita has consistently played a pivotal role in shaping and transforming various facets of the financial services value chain.

Its enduring commitment to innovation and excellence has made it a driving force in the industry, setting new standards and contributing to the overall progress of the financial sector.

Remita was joined by other 50 top organisations within the sector to exhibit their cutting-edge technologies, contributing to a vibrant and innovative showcase of the latest advancements in the field.

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Key Highlights from Nigeria Fintech Week (#NFW23) Risk Management & Resilience session https://techeconomy.ng/key-highlights-from-nigeria-fintech-week-nfw23-risk-management-resilience-session/ https://techeconomy.ng/key-highlights-from-nigeria-fintech-week-nfw23-risk-management-resilience-session/#comments Wed, 25 Oct 2023 20:18:54 +0000 https://techeconomy.ng/?p=116693 The Nigeria Fintech Week Day one panel session centered on Risk Management & Resilience, focusing on strategies for building compliant organizations. 

The discussion delved into understanding and navigating regulatory frameworks, fostering a culture of resilience through risk management, and exploring case studies and best practices.

Moderating the session at the NFW was Yeye Nwidaa, Partner, Jackson, Etti & Edu, with Panelists including Tajudeen Mustapha, Head, Risk Management and Compliance at Xpress Payment Solutions Limited, Dr. Krish Ranganath, Regional Executive West Africa, Africa Data Centre, Gbolahan Atoyebi, Head, FSI Sales, MainOne, and Precious David, Associate, Udo Udoma & Belo-Osagie, UUBO

The discussion commenced with addressing compliance challenges in the Fintech sector. Various regulatory bodies, including CBN and SEC, oversee different aspects of Fintech, making compliance multifaceted. The speakers stressed the importance of understanding regulations and seeking legal counsel to ensure compliance.

Nigeria Fintech Week: Keynote Address by Dr. Akinwumi Adesina, President of the African Development Bank

Key Points:

  1. Regulatory Understanding and Compliance:
  • Comprehensive Compliance: Fintech companies must align their operations with a variety of regulations from different regulatory bodies.
  • Legal Counsel: Engaging internal and external legal counsel is crucial. Startups should consult legal experts to navigate complex regulatory landscapes.
  1. Risk Management and Culture of Compliance:
  • Cultivating a Compliance Culture: Senior management should instill a culture of compliance and risk management throughout the organization.
  • Continuous Training: Ongoing training and education for employees are essential. Regular training programs keep the workforce updated and aware of compliance requirements.
  1. Strategies for Building Resilient Fintech Organizations:
  • Innovation and Adaptability: Fintech companies need to innovate continuously. Adaptable strategies are vital to stay relevant and compliant in the rapidly changing technological landscape.
  • Global Perspective: Fintech innovations should be viewed globally. Solutions should be scalable and adaptable for diverse markets.
  1. Technological Innovation and Compliance:
  • Technological Advancements: Fintech innovations, while revolutionary, must adhere to regulations. Regulatory bodies evolve, and companies need to keep pace with these changes to remain compliant.
  • Balancing Innovation and Regulation: Innovations should align with regulatory standards. Striking a balance between creativity and compliance is crucial for sustainable growth.
  1. Importance of Internal and External Legal Support:
  • Internal Legal Counsel: Having an internal legal team ensures constant scrutiny of operations, identifying potential compliance gaps.
  • External Legal Support: External legal experts provide specialized knowledge and insights, guiding companies through intricate regulatory frameworks.
  1. Cultural Shift and Adaptability:
  • Top-Down Approach: Compliance culture must start at the top with senior management setting an example for the entire organization.
  • Cascading Compliance: A bottom-up approach ensures that compliance practices permeate every level of the organization, creating a holistic compliance framework.
  1. Data Protection and Technological Risks:
  • Data Security: Data protection is paramount. Fintech companies must invest in robust cybersecurity measures to protect customer data.
  • Technological Risks: Risks associated with new technologies, such as cloud services and digital transactions, necessitate careful consideration and proactive risk management strategies.

The panel discussion highlighted the intricate interplay between technological innovation and regulatory compliance in the Fintech sector. Fintech companies need to balance innovation with a deep understanding of regulatory requirements, fostering a resilient culture of compliance and adaptability. In embracing a proactive approach to risk management and staying abreast of evolving regulations, Fintech organizations can thrive in the dynamic landscape of financial technology.

Fireside Chat for the Nigeria Fintech Week Day one focused on Building Resilience in the Fintech Ecosystem: Experience from Executives

The panellists were Kofo Akinkugbe, CEO, Secure ID, John Obaro, Founder & GMD, SystemSpecs, Ebehijie Momoh, Country Manager & Area Business Head, West Africa, Mastercard, while the moderator was Olumide Soyombo, Co-founder, Bluechip Technologies Ltd.

These industry leaders spoke on the challenges and opportunities shaping the African FinTech landscape. The conversation revolved around critical themes such as sustainable business models, regulatory compliance, customer-centric innovation, talent acquisition, and adaptability in an ever-changing Fintech environment.

Understanding the African FinTech Landscape: Diverse Challenges, Unique Solutions

Acknowledging the diversity within African markets, the panel emphasized the need to move away from the notion of a one-size-fits-all solution. Africa, and particularly Nigeria, presents a unique blend of cultures, economies, and consumer behaviors, making it essential for Fintech companies to adapt dynamically to cater to diverse needs.

One of the prominent challenges discussed was the race to raise funds versus the authenticity of products. It was noted that while fundraising is crucial, it shouldn’t overshadow the essence of creating genuine, problem-solving products. Panelists stressed the importance of understanding the market deeply, ensuring that innovations align with real needs rather than just financial trends.

Navigating Challenges: Cybersecurity and Customer-Centric Approach

The conversation then shifted to the challenges that keep Fintech executives awake at night. Cybersecurity emerged as a top concern, with panelists highlighting the need for continuous vigilance in an increasingly digital landscape. Understanding the dynamics of cyber threats and addressing them proactively became a focal point.

Additionally, the discussion emphasized the significance of customer feedback. FinTech companies need to evolve into more social entities, understanding the pulse of their consumers. This shift toward customer-centricity not only enhances the quality of products and services but also fosters trust and loyalty among users.

Embracing the Future: Opportunities Amidst Challenges

Despite the challenges, the panelists expressed optimism about the future of Fintech in Africa. They recognized the tremendous opportunities that lie in building solutions for the digitally native generation. With a growing youth population having unprecedented access to the internet, there is enormous potential to develop innovative digital solutions catering to their needs.

The Nigeria Fintech Week Day one panelists also stressed the importance of learning from failures. While success stories often take the spotlight, understanding the reasons behind failures can provide invaluable insights. Embracing failures, analyzing them critically, and deriving lessons are essential for the growth and resilience of the Fintech ecosystem.

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Nigeria Fintech Week: Keynote Address by Dr. Akinwumi Adesina, President of the African Development Bank https://techeconomy.ng/nigeria-fintech-week-keynote-address-by-dr-akinwumi-adesina-president-of-the-african-development-bank/ https://techeconomy.ng/nigeria-fintech-week-keynote-address-by-dr-akinwumi-adesina-president-of-the-african-development-bank/#comments Tue, 24 Oct 2023 22:08:52 +0000 https://techeconomy.ng/?p=116599 The first day of Nigeria Fintech Week 2023 was packed with innovative minds from across the financial sector, with eye opening insights to help push the nation’s economy forward. 

Dr. Akinwumi Adesina, the President of the African Development Bank, gave a compelling keynote address. His insights shed light on the programme’s theme “Fintech: Resilience, Innovation, & Diversification” in the fintech industry, not only in Nigeria but across the entire African continent and the global fintech arena.

Nigeria Fintech Week has evolved into a pioneering event for financial sector leaders, not just within Nigeria but on a global scale. It serves as a platform for dialogue and collaboration between industry leaders, offering a unique opportunity to explore the latest trends and developments in fintech.

The theme for this year’s Fintech Week, ‘Resilience, Innovation, and Diversification,’ resonates particularly with the current global economic landscape,” Adesina said speaking through Lamin Barrow, the Director General of Nigeria, African Development Bank (AfDB).

Nigeria Fintech Week: Keynote Address by Dr. Akinwumi Adesina, President of the African Development Bank
Lamin Barrow, the Director General of Nigeria, African Development Bank (AfDB), representing Dr. Akinwumi Adesina at NFW 2023

Fintech companies are grappling with the need to adapt to rapidly changing conditions, particularly in the wake of global economic downturns characterized by volatility and heightened uncertainties. These challenges are particularly evident in Nigeria and other African nations, with manifestations in macroeconomic instability, rapid forex depreciation, and rising inflation. Consequently, Africa’s GDP growth has seen a decline, estimated at 2.8% in 2022, down from 4.8% in 2021.”

In light of these challenges, the need for resilience through innovation and product diversification has never been more urgent. The fintech sector in Africa plays a major role in building this resilience by driving financial inclusion across the continent. “Recent studies indicate that 33% of adults in sub-Saharan Africa have mobile money accounts, the largest of any region globally.”

Mobile Money Revolution

Speaking further, Dr. Akinwumi Adesina noted that the 2022 GSMA report highlights that Africa now accounts for 621 billion registered mobile money accounts, representing 46% of the global total and approximately 70% of the world’s $1 trillion mobile money transactions in 2021. The spread of mobile money accounts has opened doors to better serve underserved populations traditionally excluded from the formal financial system.

The COVID-19 pandemic underscored the significant role digital technologies can play in managing shocks. Continents with advanced digital financial service ecosystems were able to scale up emergency cash transfer programs, demonstrating the resilience of fintech in addressing critical societal needs.”

Fintech Beyond Banking

African fintechs extend their impact well beyond banking and payments. From healthtech solutions that make healthcare accessible with just a click, to agritech platforms connecting farms to markets and providing real-time weather forecasts, and affordable education services, innovation is driving inclusion and addressing various societal needs.

Global Investor Attraction

African fintechs’ capacity to innovate has attracted global investors. “Reports from Disrupt Africa and the International Finance Corporation reveal that there were 26 reported fintech acquisitions in Africa between June 2021 and July 2022. In 2021, 63% of tech funding in the continent, amounting to $2.7 billion, went to the fintech industry,” Dr. Akinwumi Adesina highlighted.

Nigeria Fintech Week
NFW2023

Nigeria’s Growth Potential

As the hub of the African fintech industry, Nigeria has seen the emergence of five of the 11 digital companies that have reached unicorn status. To witness significant growth in the fintech industry, Nigeria must further integrate technology into business activities. This necessitates domesticating the Startup Act and implementing regulatory reforms to simplify procedures for cross-border trade transactions, enhance access to finance for startups, and accelerate SME integration in e-commerce.

The African Development Bank’s Commitment

The African Development Bank strongly believes that a resilient, innovative, and diversified fintech sector is key to accelerating economic transformation in the continent. The bank is actively supporting African countries in bridging digital infrastructure and knowledge gaps, creating a conducive business environment to promote entrepreneurship and innovation in the fintech industry, and upskilling the youth to prepare them for the jobs of the future.

Since 2012, the African Development Bank has invested approximately $2 billion in 40 innovation and ICT projects across the continent. Notably, this includes $170 million in financing for the investment in digital and creative enterprises projects in Nigeria, a significant component of which is the establishment of venture capital funds to support startups in the digital creative industries.

Dr. Akinwumi Adesina’s keynote address at NFW Day 1 emphasized the key role that fintech plays in Africa’s economic development. In fostering resilience, innovation, and diversification, the fintech industry addresses economic challenges and also provides innovative solutions to improve the quality of life for people across the continent. 

The African Development Bank’s commitment to this sector further emphasizes the transformative potential of fintech in Africa. 

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Nigeria Fintech Week is Here! https://techeconomy.ng/nigeria-fintech-week-is-here/ https://techeconomy.ng/nigeria-fintech-week-is-here/#respond Tue, 24 Oct 2023 10:03:53 +0000 https://techeconomy.ng/?p=116524 The much-anticipated Nigeria Fintech Week 2023 (#NFW23) has officially commenced, bringing together thousands of financial and fintech enthusiasts and leaders from over 80+ countries for an immersive 3-day experience.

Celebrated as Africa’s premier fintech gathering, #NFW23 creates a dynamic avenue where traditional financial institutions, innovative fintech startups, government representatives, and global investors converge to shape the future of finance in one of Africa’s most vibrant tech hubs.

This year’s theme, “Fintech: Resilience, Innovation, and Diversification,” underscores the critical need for the industry to evolve and thrive amidst global challenges.

Nigeria Fintech Week - #NFW23
Nigeria Fintech Week – #NFW23

Participants can expect an unparalleled line-up of events, including keynote sessions from industry leaders, interactive panel debates, hands-on workshops, and numerous networking opportunities.

Mr. Ade Bajomo, President of FintechNGR, expressed his enthusiasm, stating, “The launch of #NFW23 is a momentous occasion, marking a new chapter in our journey towards fostering innovation and growth in the fintech sector.

The diversity and expertise of our attendees make this event a powerhouse for catalyzing change and driving progress.”

#NFW23 is honored to receive backing from an impressive roster of sponsors, including leading global and domestic brands such as Huawei, Interswitch, MasterCard, Zenith Bank, Banwo & Ighodalo, AWS, Opay, Thunes, and Remita, amongst others.

The event is also set to feature an exceptional line-up of speakers, with industry leaders like Funke Opeke (CEO, MainOne), Will Stevens (U.S Consul General), John Obaro (Founder & GMD, SystemSpecs), Chika Nwosu (CEO, Palmpay), and Dr. Krish Ranganath (Regional Executive West Africa, Africa Data Centre) gracing the stage to share their invaluable insights and experiences.

Attendees can look forward to exploring cutting-edge technologies, gain insights into the latest industry trends, and forge new partnerships. With options for both in-person and virtual participation, #NFW23 ensures a comprehensive and inclusive experience for all attendees, regardless of their location.

To be a part of this groundbreaking event, register now.

Techeconomy is official media partner to Nigeria Fintech Week 2023.

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Meet the Speakers for Nigeria Fintech Week 2023 https://techeconomy.ng/meet-the-speakers-for-nigeria-fintech-week-2023/ https://techeconomy.ng/meet-the-speakers-for-nigeria-fintech-week-2023/#respond Mon, 16 Oct 2023 16:42:01 +0000 https://techeconomy.ng/?p=115944 As the excitement surrounding Nigeria Fintech Week (#NFW23) intensifies, organizers are elated to unveil a diverse and stellar assembly of industry leaders set to grace the stage from October 24 to 26, 2023.

These champions of innovation, each with a rich tapestry of experiences, will gather at the Landmark Event Centre, illuminating discussions with invaluable insights in line with this year’s theme, “Fintech: Resilience, Innovation, and Diversification”.

Funke Opeke – CEO, MainOne

Funke Opeke founded MainOne, the mastermind behind the region’s first open-access submarine cable system.

funke opeke, ceo, mainone, an equinix company
Funke Opeke, CEO, Mainone

Her vision transformed MainOne into a significant player, culminating in its acquisition by global titan, Equinix, in 2022.

Will Stevens – U.S Consul General

Mr. Stevens, the current Consul General at the U.S. Consulate General in Lagos, brings a rich tapestry of diplomatic expertise.

Will Stevens U.S. Embassy
Will Stevens

Renowned for his impactful work from South Africa to countering Russian propaganda during the Ukraine crisis, Stevens remains a beacon in international diplomacy.

John Obaro – Founder & GMD, SystemSpecs

John Obaro - nigeria fintech week
John Obaro

The maestro behind the revolutionary Remita e-payment solution, John Obaro, with his company SystemSpecs, has fundamentally transformed Nigeria’s fintech landscape, including creating the nation’s inaugural online banking platform at IMB.

Chika Nwosu – CEO, Palmpay

Chika Nwosu - CEO, Palmpay
Chika Nwosu – CEO, Palmpay

With a legacy of leadership at giants like Huawei Technologies and Transsion Group, Chika Nwosu now helms PalmPay, charting its course through the competitive fintech waters with his Management Science acumen.

Dr. Krish Ranganath – Regional Executive West Africa, Africa Data Centre

Dr. Krish Ranganath - Regional Executive West Africa, Africa Data Centre

With over two decades shaping the ICT sector, Dr. Krish’s vision has birthed networks & data centers across emerging markets, making him a cornerstone in the architectural design of West African telecom infrastructure.

Ade Bajomo – President, FintechNGR

Ade Bajomo - FintechNGR, Nigeria Fintech week
Ade Bajomo – President, FintechNGR (Photo by: Kelechi Amadi-Obi (www.kelechiamadiobi.com))

Having left transformative imprints at the Nigerian Stock Exchange and Access Bank, Ade Bajomo’s influence in finance and tech domains is undeniable. His vision continues to sculpt the financial landscape, particularly in the realm of fintech.

Set amidst an electric atmosphere, the Nigeria Fintech Week – #NFW23 – promises attendees a unique blend of enlightening dialogues, interactive sessions, and unparalleled networking opportunities with the very best in the fintech world.

For comprehensive Nigeria Fintech Week event details, to register, and to familiarize yourself with the entire list of eminent speakers, enthusiasts are encouraged to visit here.

Techeconomy is the official media partner to Nigeria Fintech Week 2023.

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Nigeria Fintech Week 2023 Promises Unparalleled Fintech Experience https://techeconomy.ng/nigeria-fintech-week-2023-promises-unparalleled-fintech-experience/ https://techeconomy.ng/nigeria-fintech-week-2023-promises-unparalleled-fintech-experience/#respond Thu, 10 Aug 2023 08:31:20 +0000 https://techeconomy.ng/?p=110083 Nigeria Fintech Week (NFW) has unveiled the sponsors and partners for NFW23, scheduled from October 24 to October 26, 2023.

This year’s event promises to be bigger and better, with the support of leading organizations driving innovation and growth in the fintech industry.

Confirmed Sponsors:

  • Zenith Bank: One of Nigeria’s leading financial institutions, Zenith Bank’s support underscores its commitment to driving innovation in the fintech sector.
  • Mastercard: As a renowned global payment solutions provider, Mastercard’s sponsorship showcases its commitment to promoting secure, efficient, and inclusive financial solutions.
  • Alliance Law: Alliance Law is a prominent firm with fintech and emerging technologies expertise.
  • Horizon Pay: A pioneering payment solutions provider, Horizon Pay’s sponsorship reaffirms its focus on empowering financial transactions through cutting-edge technology.
  • UUBO: A leading commercial law firm renowned for its focus on innovation and technology. Their sponsorship reflects their dedication to shaping the future of fintech in Nigeria.
  • Banwo & Ighodalo: A top-tier law firm known for its exceptional legal services in various sectors, including fintech. Their sponsorship underscores their active involvement in shaping the fintech landscape.
  • Soft Alliance: A prominent technology solutions provider, Soft Alliance’s sponsorship reflects its dedication to advancing technological solutions in the financial industry.
  • VFD Group: As a diversified financial services group, VFD’s sponsorship represents their support for fostering innovation and growth in Nigeria’s fintech ecosystem.
  • AELEX: A top-tier law firm, AELEX’s sponsorship demonstrates their engagement in legal aspects of fintech and emerging technologies.

These visionary sponsors bring their expertise and commitment to the forefront, emphasizing the significance of collaboration between the financial sector and emerging fintech solutions.

Confirmed Ecosystem Partners to Nigeria Fintech Week:

  • NIBSS: The Nigeria Inter-Bank Settlement System (NIBSS) is an integral part of the financial ecosystem, and their partnership reaffirms the collaborative effort in advancing fintech in Nigeria.
  • NCC: The Nigerian Communications Commission (NCC) plays a crucial role in shaping the technology landscape, and their partnership showcases the importance of regulatory involvement in fintech.

The involvement of these vital ecosystem partners further underscores the collective effort to advance fintech in Nigeria and create a more robust technological landscape.

Confirmed Media Partners to Nigeria Fintech Week:

  • Techeconomy
  • TechCabal
  • Proshare
  • SDM Communications
  • Coinnewsextra

These influential media partners will ensure extensive coverage and dissemination of crucial fintech discussions during NFW23, contributing to the event’s impact and reach.

NFW23 offers unique opportunities for corporate brands interested in participating. They can benefit from customized features such as product promotion, increased brand exposure, launching and showcasing cutting-edge technologies, faster customer acquisition, collaborative solution development, and fostering business-to-business (B2B) and business-to-consumer (B2C) partnerships and media engagement opportunities.

For sponsorship and partnership inquiries, please contact Seun at exec.sec@fintechng.org or +2349030003013.

Additional event details can be found here.

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