WASHINGTON DC, United States of America, May 16, 2022, /African Media Agency/ — On April 21, 2022, African and global fintech players gathered at the Ronald Reagan Building and International Trade Center for the seventh annual Africa FintechSummit. The biannual event returned to Washington DC for the first time in three years following a virtual summit in 2020 and a hybrid event in Cairo in 2021.
Like all April editions that preceded it, #AFTSDC2022 was to be held during the World Bank/IFC Spring Meeting. This offered the summit the opportunity to welcome fintech leaders already in town for the World Bank event alongside attendees expected to be at the fintech summit.
Additionally, the US-Africa investment relationship meant that a summit in DC would connect African entrepreneurs with some of the US investors responsible for 62% of the top twenty investment deals in Africa in 2021. .
The main event began with a keynote address by Deniece Laurent-Mantey, Director for Africa, White House Security Council. In keeping with the theme of the event centering on trends of growth and expansion of the fintech industry in Africa, Ms. Laurent-Mantey spoke about the potential for the African tech industry to thrive in the years to come. According to her, this potential is limitless because “we are in the midst of an unprecedented revolution in digital technology – a revolution that affects all sectors of the economy and social life, brings people and nations together and makes of the world a truly global village.”
After Ms. Laurent-Mantey’s opening speech, various round tables took up most of the day. There were 16 sessions focusing on fintech hotspots including integrated finance, industry investment trends, web3 and cryptocurrency, banking and diaspora remittances , fintech regulatory best practices, the future of banking, and more.
The expert-led discussions saw the participation of over 60 speakers and panelists from across the fintech value chain, including Mike Ogbalu, CEO of the Pan African Payments and Settlement System (PAPPS), Omosalewa Adeyemi, Global Head of partnerships and expansion, Flutterwave, Tosin Eniolorunda, CEO TeamApt, Ray Youssef, CEO and co-founder, Paxful, Odunayo Eweniyi, co-founder and COO, Piggyvest, and others.
Participants also had the chance to participate in two informative workshops. The first, ‘PR for Founders’, was hosted by PR firm InsiderPR, and Pavestones, a Nigeria-based law firm, coordinated the second session, ‘Navigating Licensing and Regulation in Nigeria’. .
The focus on fintech conversations in Africa was further intensified by a Fintech Excellence Awards ceremony which recognized key players in the African tech ecosystem for their contributions to the tech industry and to the continent’s economy. Here is the full list of winners:
- Excellence in Fintech-Bank relations – EcoBank
- Excellence in Fintech Investment – Future Africa
- Cryptocurrency Excellence – Paxful
- Excellence in Blockchain Technology – Appzone Group
- Excellence in Ecosystem Research – Briter Bridges
- Excellence in cross-border solutions – PAPSS
- Excellence in digital banking – TeamApt
- Excellence in Savings and InvestTech – PiggyVest
- Excellence in Payments – Paystack
- Excellence in InsurTech – Turaco
- Excellence in Fintech and Lending – Payhippo
- Excellence in Embedded Fintech – Cellulant
- Excellence in Fintech Infrastructure – Flutterwave
- TradeTech Excellence – AFEX
The event concluded with the New Venture Competition, a pitching session organized in collaboration with IBM. It saw six African founders pitch their startups to a panel of judges. Using the judges’ evaluation and an online poll hosted on the virtual streaming app, Hio Sola-Usidame, Founder and CEO of OnePort 365, was declared the winner. He would participate in IBM’s Hyper Project Accelerator.
The post-event reception offered attendees the perfect opportunity to cement the bonds made throughout the day and at the pre-event VIP dinner held on the 20th on the roof of the Washington Hotel. It proved a fitting way to end an event that had done everything from exploring the intriguing facts and figures behind Africa’s exciting fintech space to connecting innovators with collaborators and potential investors.
The next edition of the Africa Fintech Summit will be held in November in Cape Town, South Africa. The organizers will communicate more details soon.
Distributed by African Media Agency in partnership with Africa Fintech Summit
About the Africa Fintech Summit
Africa Fintech Summit is a global knowledge-sharing platform that connects innovators, regulators, entrepreneurs and facilitates conversations and partnerships that help them explore fintech solutions to improve African individuals, economies and societies. Twice a year, the summit is held in Washington DC and a select African country and sees stakeholders from around the world come together to chart a progressive path for fintech in Africa by mobilizing investment, developing enabling policies and sharing growth strategies.
Since 2018, the summit has been held six times and supported:
- Over $20 million in capital raising efforts for African startups
- The launch of strategic partnerships and new activities
- Creating Policy Guidelines
- The growth of local tech and startup ecosystems
- Knowledge sharing for African banking/fintech operators and regulators
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