Dr. Segun Aina President, FinTech Association of Nigeria OBJECTIVE - - PowerPoint PPT Presentation

THE RISE OF FINTECH STARTUPS IN WEST AFRICA

• Dr. Segun Aina

President, FinTech Association of Nigeria

“….To put a microscope on the emerging opportunities in West Africa through which the Fintech startups can

• ptimize under an enabling business environment”

OBJECTIVE

WEST AFRICA……THE REGION OF OPPORTUNITIES

16 Countries 400m population (estimated) Over US$2trillion GDP 40% Internet Penetration

(estimated)

176m Unique Mobile Subscribers

THE DIVERGENT OF THE OPPORTUNITIES

The Rise of FinT ech has been due to the impact of:

Demographic Changes (Millennials) T

echnology Adoption

Innovative Solutions Policies & Regulations Partnership Investment

THE YOUNG SHALL GROW

THE PREVAILING CHALLENGES

Despite all the opportunities, there are some hurdles which include:

Regulations Infrastructure Capacity Development Funding Globalization Partnership

ABOUT

About Fintech Association of Nigeria

Vision To make Nigeria one of the world's leading markets for FinTech Innovation and Investment. Mission To foster an ecosystem that supports all stakeholders to achieve a thriving and growing Nigerian FinTech industry Diverse Membership Base – 81 Corporate Members across all sectors of the economy. Global Affiliation – Member of Global Fintech Hubs Federation (member institutions across eighty five

• countries. Serves as a vehicle to access global best

practices in Fintech) Global Reputation – engaged by IMF, DFID on financial inclusion and open banking initiatives in Nigeria; Global Financial Innovation Network on global sandbox and British Prime Minister/DFID Business Network Strong Local Presence – organises series of events including National Fintech Conferences in Nigeria with

• ther partners.

FintechNGR Membership Overview

Membership - 81

BANKS, ICT & FSPs

LEGAL, CONSULTING & VCs MEDIA, EDUCATION & START-UPS

BANKS, ICT & FSPs

LEGAL, CONSULTING & VCs MEDIA, EDUCATION & START-UPS

Ris k An alys t

About Fintech Association of Nigeria

Value Creation – Engagements towards Friendly Regulation & Investment

• Central Bank of Nigeria - involved in FSS2020 strategic process on Fintech Regulation/Bills
• National Insurance Commission – engagements towards insurance inclusion with technology
• National Assembly – Proposal of Fintech Regulation Bills amongst others
• Capital Market Committee - Proposed, secured approval and chairing the committee on Fintech Adoption in

Capital Market

• Securities & Exchange Commission – empowerment of staff with Fintech knowledge – Fintech Learning

Series

• Nigerian Stock Exchange – engagement on exposing budding Fintechs/SMEs to funding opportunities,

corporate governance and best practice, potential listing on the Exchange.

• Judiciary – Fintech Learning Series with the Judges of Federal High Court & Justices of Federal Court of

Appeal.

About Fintech Association of Nigeria

Value Creation – Knowledge Events

• National Fintech Conference- the forth edition – Nigeria Fintech Week is

scheduled to hold from 28th October to 1st November 2019 in Lagos.

• Africa Fintech Festival - Championed the commencement of the

continental event with 2019 edition scheduled to hold in Kampala, Uganda from 5th to 6th November 2019

• Social Meet – a platform of exchange for the Fintech stakeholders in
• Nigeria. The Nigerian Stock Exchange recently hosted the fourth edition
• n 11th April 2019

Value Creation – Unifying Continental Innovation Initiated and led the formation

• f the Africa Fintech Network

Continental Ecosystem – Africa Fintech Network

Objectives of the Africa Fintech Network;

• 1. Unify and channel Africa fintech initiatives & foster shared

development across the continent

• 2. Market access across Africa for fintechs and tech-enabled innovative

products.

• 3. Innovative technology transfer and export
• 4. Multi-national/cross-border fintech policy and regulatory frameworks.
• 5. Coordinated collaboration with the rest of the world.
• 6. Support the implementation of African/Global development oriented

initiatives such as; African Continental Free Trade Area Agenda 2063 Sustainable Development Goal etc

20 (Still counting)

Continental Ecosystem – Africa Fintech Network

Membership National Fintech Associations Strategic Partners across the Globe Inaugurated on December 4 2018 in Lagos Launched on March 24 2019 in Marrakech, Morocco Industry Partners 1. ASEAN Fintech Network 2. MENA Fintech Association 3. Fintech Circle UK 4. Seamless Africa / Terrapin 5. Innovate Finance 6. Africa Pay & ID Expo. Strategic Partners 1. Ecobank Group 2. United Nations Economic Commission for Africa (UNECA) African Union(in view) 3. Africa Export-Import Bank (in view) Smart Africa (in view) 4. FSD Africa (in view) 5. Africa Development Bank (in view) 6. Global Financial Innovation Network (GFIN) in view. 7. Afrilabs

Contact Us

http://www.fintechng.org/ exec.sec@fintechng.org +234 903 000 3013, +234 809 219 3000, +234 803 638 4283 @fintechngr https://www.linkedin.com/company/fintechngr