CBK, Huawei and Safaricom jointly host the Afro-Asia FinTech Festival

The Afro-Asia FinTech Festival at a Nairobi Online City Event


The Afro-Asia FinTech Festival event was a joint collaboration by the Central Bank of Kenya, Standard Chartered Bank, Huawei, and Safaricom, and took three days. The theme of the event organized by the monetary authority of Singapore was “People and Talent-Harnessing: Collaboration in Pursuit of Resilience and Growth Post Covid-19″

2020’s event was held virtually attracting over 14,000 participants. Kenya’s President Uhuru Kenyatta graced the event that constituted three major segments:

  • Economic recovery
  • FinTech people and ecosystem
  • Sustainable finance

Three core themes emerged from the discussion centered around;

  1. SMEs being the center of the economic recovery
  2. collaboration between the public and private sectors to be scaled in the build-up to a digital ecosystem.
  3. Pandemic amplified the linkages between corporations and their communities

The goal was to enable the exchange of ideas through panel discussions among fintech stakeholders worldwide touching on:

  • Cashless/ digital payments
  • Next-generation digital platform
  • relationships between banks and fintech

Kenya has experienced an upsurge in digital payments through digital wallets, mobile money services, and mobile banking apps. Digital payments have evolved across the value chain and payment ecosystem.

The fragmented issues are mostly associated with integrated APIs of the merchant systems including customer confidence with the products. Today, it is ever hard to dissociate banks from fintech at large.

Source: Techweez


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