I have accepted the invitation of the Africa Fintech Festival to deliver the Keynote during its event scheduled Nov 5-6 2019 in Kampala, Uganda. The theme of the event is the Role of Fintechs in Africa’s Digital Economy.
The Africa Fintech Festival: The annual Africa Fintech Festival – is an annual point of convergence of ideas, trends, innovations, key debates on wide ranging issues ranging from reg-tech , consumer protection, disruption of savings, credit, insurance and pension value chains, to borderless operations, non-traditional partnerships, and game-changing business models.
This year, Uganda hosts the Africa Fintech Festival. Representatives from over 25 African nations – from regulators, policy makers, Fintechs, investors, banks (traditional, digital and neo ) and more, will examine “the role of Fintech’s in Africa’s digital economy.”
The Africa Fintech Festival 2019 is being brought together by the Financial Technology Service Providers Association of Uganda (FITSPA) and Financial Sector Deepening Uganda (FSDU)
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.
Fintech is the operating system of the mechanics of African growth, but it has to evolve. My talk will examine the constructs and more; I hope you will join us.
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