Tuesday, December 04, 2018 7.00AM / Ottoabasi Abasiekong, Proshare WebTV
The Africa Fintech Network yesterday at it
meeting in Lagos, approved the inauguration of an interim council, to drive the
Fintech Ecosystem in the continent.
This was in line with the need to
fast-track the development and strategic coordination of Fintech innovations in
The committee will have members from 6
African countries namely;
- South Africa
It will be saddled with the responsibility
of advancing the cause of Fintech and its development in Africa, alongside the
following key objectives;
- Unify and
channel African Fintech Initiatives towards producing solutions to drive
indigenous creativity and innovation
wider market access across Africa in a seamless manner for fintechs and
tech-enabled innovative products.
innovative technology transfer and export beyond to the developed world and
other emerging markets.
multi-national/cross-border fintech policy and regulatory frameworks.
- Engender a
coordinated collaboration with the rest of the world.
- Support the
achievements of the African Continental Free Trade initiative and Agenda 2063
of the Africa Union.
The convener of the Africa Fintech Network
and President of the Fintech Association of Nigeria, Dr Segun Aina said the
Network will contribute to making Africa a leading global innovation hub.
From the Roundtable discussions,
stakeholders agreed that there was need for a robust structure and an open
system for Fintech to thrive in Africa.
It was also noted that the Network should
create the enabler for African Fintechs to scale across the region, to other
parts of the globe.
The Africa Fintech network also discussed
the issues round regulatory sandboxes, the need for products , infrastructure
and the need for talents and skill-sets in the industry.
Africa Fintech Network has the endorsement
of the IMF, UK-DFID, UNECA, Africa Development Bank, Afrexim Bank , Qatar
Development Bank and Ecobank Group
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