Africa is a continent ripe for financial innovation. Over the last decade the fintech industry has experienced tremendous global growth, and with even higher potential in Africa. This industry can be seen as disruptive in more mature markets. However, on the continent, it is revolutionizing economies and transforming financial institutions by providing home grown solutions to problems that seemed unsolvable not that long ago. Thanks to fintech, African banks have better tools to service the remaining 83% of the population that do not have access to bank accounts. Partnership and competition between financial institutions and fintech companies are yielding unprecedented results and creating new opportunities for investment, but also raising challenges to be overcome:
Corporate Council on Africa's Finance Forum will bring together more than 100 project developers, financiers and African government representatives to address how the fintech industry is transforming the financial sector and financing on the African continent. Panels will address the following:
- How are financial institutions taking advantage of the fintech boom on the African continent? How are these partnerships translating into increased profitability or value-added service?
- How is fintech supporting financial inclusion?
- What is the role of fintech in financing projects?
- What are the regulatory, prudential and financial integrity challenges presented by fintech in the contexts of African countries?
- Case study of new ways fintech is facilitating the structuring of deals from conception to delivery, as well as supporting access to financing. What are the lessons learned and best practices?