African Fintech Network to Promote Regional Cross-border Regulation

The Africa Fintech Network, which comprises national fintech associations from different African countries, says it plans to unify and channel African fintech initiatives towards producing solutions to drive indigenous creativity and innovation in the continent.

According to a statement on Monday, the network was inaugurated recently during the opening session of the maiden Africa Fintech festival in Lagos.

It added that the inauguration was conducted and witnessed by distinguished personalities from the presidency and representatives of governments of some other African countries.

The key objectives of the network include to, “Unify and channel African fintech initiatives toward producing solutions to drive indigenous creativity and innovation aimed at proffering timely, tested, affordable and indigenous answers to Africa’s peculiar real-world challenges in particular financial inclusion.

“It also aims to provide wider market access across Africa in a seamless manner for fintechs and tech-enabled innovative products, explore innovative technology transfer and export beyond Africa to the developed world and other emerging markets, foster multi-national/cross-border fintech policy and regulatory frameworks, engender a coordinated collaboration with the rest of the world, and support the achievements of the African Continental Free Trade initiative and Agenda 2063 of the AU.”

According to the statement, there are delegates from 10 African countries making the founding membership of the network.

The statement said, “The journey began January 24, 2018, where the idea of an Africa Fintech Network was canvassed at the African Fintech Enablers Roundtable held in Lagos with delegates from seven Africa countries, guests from other countries outside of Africa and financial services regulators.