Join me next week in Kampala, Uganda, as I keynote the largest gathering in the fintech sector in Africa. Fintechs are a new species of entities and they are the new operating system of Africa’s economy. Since the Tang Dynasty (A.D. 618-907) when the Chinese invented paper money, nothing has promised more opportunities and disruptions in finance than fintech. I will discuss the latent opportunities and where the redesigns are going.
I will be speaking on a topic I have titled “Fintech – Africa’s New Growth Operating System”. This keynote will examine the evolution of financial services and how financial services have reshaped kingdoms and empires, from the barter system through cowry to paper, and now the digitals! Yes, if supply chain powers commerce and industry, financial services drive supply chain because in the central nervous system of any economy, financial services are components of the bloodstream.
Africa is emerging with evolutionary redesigns which will become evident by 2022 when immersive connectivity and smartphone penetration will drive a new level of abundance in our continent. Financial services are already transformed as technology layers are anchoring new redesigns, enabling better efficiencies in the utilization of factors of production, across regions and markets. The end result is a new species of entities called fintech.
Fintech is a new operating system for Africa’s growth. Since the Tang Dynasty (A.D. 618-907) when the Chinese invented paper money, nothing has promised more opportunities and disruptions in finance than fintech. Technology RUNning financial services provided huge productivity gains for decades, but fintech living on a big network called the internet, will unlock new domains of value. That fintech will TRANSFORM financial services, fixing frictions in African trade and commerce, especially in this age of AfCFTA where borderless unification will engineer new shared prosperity and wellbeing.