UK- Africa Fintech Investment Group Holds Inaugural Meeting

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Tuesday, December 04, 2018 7.00AM / Ottoabasi Abasiekong, Proshare WebTV

 

Following the recent visit of the Prime Minister of the United Kingdom Mrs Theresa May to Nigeria, which provided an avenue for a broader partnership on Fintech, the inaugural UK-Africa Fintech investment forum was hosted at Inlaks Nigeria Limited in Lagos. 

This was on the sidelines of the 2018 Africa Fintech Festival, which is focusing on the theme “Fintech-Beyond the Hype” 

It was an opportunity for stakeholders in the UK and African Fintech ecosystems , to explore how to strengthen their relations . 

Joining the meeting via video the British Ambassador for Fintech and Co-Chair UK-Africa Fintech Investment Group Alastair Lukies , emphasized the value of strategic partnerships that can deepen the Fintech ecosystem in Africa. 

On his part the Co-Chair and Convener Africa Fintech Network Dr Segun Aina shared that Fintech investments in Africa in the last 3 years have exceeded $3bn. 

He noted that the top three (3) countries that have been attracting key Fintech  investments into Africa, include South Africa, Kenya and Nigeria. 

Dr Aina identified the following as prospects for the growth of Fintech in the continent;

  • Open Banking
  • Insurtech
  • Regtech
  • Blockchain

 

Other issues raised by stakeholders from the meeting include;

  • The need for an enabling regulatory environment for Fintech
  • The need for talent and skills development in the Industry
  • Exploring ways of attracting more funding for Fintech Startups in Africa
  • Addressing the issues of lack of data
  • The need to build trust in the Fintech Industry 

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