Finnovation Africa:
Kenya 2018, which will be held on the 31st of May 2018 at the Radisson Blu
Nairobi, will gather international FinTech experts together with African
pioneers, investors, government policymakers, entrepreneurs and leading bankers
to harness the FinTech revolution to boost strategic economic priorities such as
financial inclusion – and how FinTech can make a positive and profitable
difference in Africa. The event will also explore how the major banks and
financial institutions on the continent are addressing the digital
transformation of financial services and how their own digital innovations are
being shaped and accelerated as a result of the gathering momentum of FinTech
disruptors.
The unique environment
for financial services in Africa is fertile ground for innovative FinTech
players who are capitalising on the opportunities to disrupt or leapfrog
established business models to make financial services more affordable,
accessible and profitable across the continent. Finnovation Kenya 2018 is
delighted to welcome a stellar list of keynote speakers, including Paul
Muthaura, CEO of Capital Markets Authority Kenya; Dave Van Niekerk, Founder and
Executive Chairman of MyBucks; Aaron Fu, Managing Partner, MEST; Jeremy Awori,
Managing Director of Barclays Bank Kenya Ltd; and Declan Magero, Founding
Partner, Afrinet Capital. The opening keynote session will define directions on
Aligning the Role of Government Policymakers, Banks, FinTech Innovators,
Investors, Multilateral Agencies, MNOs and the Private Sector to Advance the
FinTech Ecosystem in Africa.
Paul Muthaura, CEO of
Capital Markets Authority Kenya Ltd, speaking ahead of his participation in the
event, said that: “Kenya has rapidly become an internationally recognized
pace-setter for FinTech innovation as global players increasingly look to learn
lessons especially in areas where the country has built world-class
capabilities such as in mobile money. We have built a supporting infrastructure
and are strengthening our regulatory framework to foster FinTech innovation and
drive capital market activity to the next level. The Authority is at an
advanced stage of implementing a Regulatory Sandbox to provide a safe space for
innovative ideas to transition into the regulated environment. Across emerging
markets, and particularly in Africa where there is an absence of the legacy
infrastructure found in most developed economies, Fintech presents a
transformational opportunity to leapfrog traditional costs and time delays in
rolling out world class financial services infrastructure, products, services
and distributions channels. The pioneers and experts gathering at Finnovation
Kenya 2018 will provide critical insights on this exciting journey.”
Finnovation Kenya 2018
will also provide a platform to connect innovative start-ups with leading
investors in the African FinTech space and the Wolves’ Den session is one of
the most dynamic features of the event. The Wolves’ Den enables innovative
FinTech start-ups and trail-blazers to real-time test the positive impact of
their solutions. A panel representing savvy Investors/Venture Capitalists and
seasoned African Fintech Pioneers will evaluate the business model of each
chosen start‐up
or trail‐blazer in a high-stress
10 minute "elevator pitch" to the "Wolves" who will ask the
tough questions and provide the illuminating insights.
Speaking ahead of his
participation in Finnovation Kenya 2018, Dave Van Niekerk, CEO of MyBucks, said
that: “The global microfinance, retail banking and credit landscape has long
required a revolution and this rapid and dramatic change, with financial inclusion
at its heart, is already well underway. FinTech innovations are enabling the distribution of
financial products at competitive pricing, providing the basis to rapidly
scale-up as well as effectively manage credit risk. Incumbent financial
institutions will eventually be forced to embrace this technology to acquire
clients, determine risk and retain clients, effectively closing the divide
between FinTech and traditional finance organizations. The Finnovation Kenya
2018 event will create a powerful platform for start-ups and trail-blazers, to
understand the broader ecosystem as well as for incumbent Financial powerhouses
from across Africa to engage and learn from each other.”
Further emphasizing the
importance of the development of the FinTech ecosystem to economies across
Africa, Sunny Walia, General Manager for Visa East Africa, said that: “With
just 17% of people in Africa having access to formal financial services, almost
a third of funding raised by African startups in 2017 was in the Fintech sector.
Venture funding for African startups jumped by 51% to $195 million in 2017. And
so, with over a hundred million dollars invested over the past ten years alone,
the region’s Fintech industry is on the brink of a transformative breakthrough.
At Visa, we believe the time is ripe to bring together its brightest minds and
work on the next big idea in payments technology. With a clear goal of enabling
cashless economies and financial inclusion, Visa is committed to fostering an
entrepreneurial spirit and driving innovation in its payments landscape.”
Mr. Walia continued by
saying, “To this end, we at Visa announced that its Visa’s Everywhere
Initiative, a global innovation program that tasks start-ups to solve commerce
challenges of tomorrow and further enhance their own product propositions and
provide visionary solutions for Visa’s vast network of partners, will expand
into the Sub-Saharan Africa (SSA) region. Entrants in the first-ever Sub-Sahara
Visa’s Everywhere Initiative (VEI) will have the opportunity to compete for a
chance to win up to USD 50,000, access to Visa’s products and services, expert
mentorship and support from Visa and exposure to key Visa partners and clients.
To date, the program
has had nearly 2,100 participating start-ups across North America, Latin
America, Europe, Asia Pacific, Africa and the Middle East. Today, I am keen to
participate in Finnovation Kenya 2018 to help shape the dialogue around the
next steps on how banks and fintech players can collaborate with Visa to
transform economies across the continent”
From the perspective of
a leading banker, Jeremy Awori, Managing Director of Barclays Bank of Kenya
Ltd, reinforced that “the rapid growth of FinTech on the continent is driving
both the disruption and leapfrogging of legacy systems and is further
accelerating the digital transformation of financial services across Africa.
As a bank, our
innovation and digitization agenda is in top gear and is aimed at moving the
bulk of transactions to channels such as mobile banking, Internet banking and
agency banking in order to increase customer convenience. We have recently
launched our pioneer virtual banking proposition, Timiza, which offers our
customers a platform to conduct their financial transactions ranging from
borrowing, saving, bill payments and funds transfer etc from the comfort of
their mobile phones.
I look forward to
participating in Finnovation Kenya 2018 and engaging with FinTech pioneers from
across the continent to address how FinTech is contributing to the positive
transformation of financial services in Africa.”
Finnovation Africa:
Kenya 2018 will take place at the Radisson Blu in Nairobi, Kenya on the 31st of
May 2018 and will gather all stakeholders and influencers in the African
FinTech ecosystem, from innovative start-ups to banking powerhouses,
representing the key markets across Africa and internationally.
Ethico Live Limited UK
is an international trade & investment nexus that focuses on the digital
transformation of financial services and the role that Fintech is playing in
driving positive and profitable change through blockchain, AI, mobile money,
finclusion, ethical finance/Islamic banking, payments, and data driven
innovations. We support our clients who are transforming the global financial
markets through our high-profile engagement platforms that connect investors,
government policymakers, bankers and game-changing start-ups from across the
Middle East and Asia - with a special focus on the exciting high-growth markets
of Africa.
For further details,
please contact:
Sanay Lalwani, Media
& Marketing Lead: Finnovation at Ethico Live:
sanaylalwani@ethicolive.com
www.finnovationworld.com
Contact No - +91 90245
26133, +91 124 418 2794/5