Africa urged to leverage on digital technologies

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Afro-Asia Fine Tech festival in Nairobi(Source Kenya Bankers Association)

During an address at the two-day inaugural Afro-Asia FinTech Festival in Nairobi, Kenyan President Uhuru Kenyatta called on Asian governments and companies to partner with Africa to build stronger digital bridges between the economies of the two continents.

“Africa is open for business and we urge you to join hands with us in building a better and more prosperous world for all our people,” said the president.

He urged African countries to take advantage of technology to deepen financial inclusion and enhance service delivery. The ability to further leverage digital platforms and develop digital economies will only help the continent to expand opportunities for its people, business and tech experts say.

The two-day financial technology conference is the first of its kind globally and is jointly organized the Monetary Authority of Singapore (MAS) and the Central Bank of Kenya. It brought together thousands of delegates from Africa and Asia.

On the card were more than 20 companies from Singapore led by Mr. Tharman Shanmugaratnam, Senior Minister and Coordinating Minister for Social Policies.

Mr. Shanmugaratnam emphasized the benefits of globalization which aims at “growing the pie” for the largest number of people.

He said FinTech summit is a unique conference focusing at giving opportunities to many entrepreneurs at the bottom of the financial radar.

Kenyatta on his part cited M-Pesa a mobile money transfer innovation adding that riding on mobile phone financial services, access to financial services in Kenya has more than tripled from 26 percent in 2006 to 82 percent in 2019.

Delegates who attended the conference include inventors, entrepreneurs, technology scholars, researchers, media and university students drawn from 30 countries spread across five continents.



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