In view of the immense investment and funding opportunities that currently abound in Africa’s flourishing financial technology (fintech) ecosystem, key industry players comprising of CEOs of some of the most successful fintech companies will be meeting in London on September 19 2018 to deliberate on investment strategies.
The mobile payments and fintech roundtable, which was put together as part of the activities slated for TMT Finance Africa 2018, will have such speakers as Chris Low, Group CEO, Letshego; Alix Murphy, Director of Mobile Partnerships, WorldRemit; Ercin Eksin, Co-Founder & Co-CEO, Lidya ; Rostan Schwab, Africa Head, Fintech Investments, IFC; and Adia Sowho, VP Commercial/MD (Nigeria), Mines.io.
According to a press statement issued to Nairametrics, there will also be a dedicated breakout session during which the MDs/CEOs of African fintech companies as MFS Africa Ltd, goAfrica, Verdant Capital and others, will discuss how to grow and scale up financial technology companies in Africa.
A look at the flourishing fintech ecosystem
There is a positive outlook for the fintech and mobile payment ecosystem in Nigeria and Africa as a whole, which over the years have continued to thrive. Companies like Cowrywise, Piggybank and Fint have continued to disrupt the financial system in Nigeria, even as the demand for more fintech services are “tipped to see a large uptick.”
As a matter of fact, the mobile payment sector is growing so fast, to the extent Ecobank Group recently projected that by 2020, financial transactions made using mobile phones will increase from its current $200 million to $3 billion.
Meanwhile, there are immense investment opportunities…
As the fintech ecosystem in Nigeria and Africa continue to grow, it has continued to attract funding from both within and outside the continent. This year alone, about $100 million has been injected into the industry, even as more funding is expected to flood in as projected by TMT Finance.
Apparently, the level of success so far recorded by the sector is what is pushing more investors to strategically position themselves for future returns. In the words of the EMEA Editor at TMT Finance, Joseph d’Arrast:
“The increasing demand for payment transaction and lending services are attracting investment from mobile operators, banks and international funds, all jostling to position themselves across the continent. These new initiatives also achieve inclusive goals set by international development finance institutions, which have been joining multiple fundraisings over the last twelve months.”
But with the projected bullish prospects notwithstanding, the sector is still faced by a number of challenges such as regulatory issues, access to reliable and affordable internet services, and the need to develop blockchain. All these and more are part of the issues that will be discussed during the conference in September.
You may read more about the TMT Finance Africa conference here.