Tech

Afrifursa 2021 Summit to Strengthen African-Canadian Fintechs’

The Afrifursa Fintech Summit, which is scheduled to hold virtually on Tuesday, 22nd November 2021. The event aims to provide a unique opportunity for discussions that will broaden the “interconnectivity” between the African and Canadian fintech ecosystems. 

Afrifursa, an organisation founded to promote economic ties between Africa and the West is organising 

“Canada currently has the fastest growing tech market in North America and is home to approximately 700 fintech companies, with 18 of these founded as recently as 2020”.

Organisers say participants will be firms and people at the frontier of the growth of the African fintech sector and others seeking to follow the path they have opened up. The event seeks to attract participants ranging “from unicorns in waiting to digital currency policy experts”.

Afrifursa is known for its “meet the diasporans” podcasts that highlight how “global citizens” are finding innovative ways to use their skill sets and experiences to act on opportunities of exchange with Africa. 

Also Read: Building an Inclusive Digital Economy in the Wake of Covid-19

With expert speakers drawn across the continent as well as Canada, participants at the Afrifursa Fintech Summit can expect to engage in social impact partnerships through shared thought leadership, understanding of the fintech start-up environment, market intelligence and awareness of B2B opportunities.

Notable themes to be discussed include at the Afrifursa summit: (1) Economy – The role of Fintech in COVID recovery, (2) Governance – The rise of alternative currencies and global trade/ investment flows, (3) Impact – The role of Fintech in fostering equity & sustainability, (4) Innovation – Fintech as a financial services contributor and disruptor, and (5) Investment – Growing importance of cross border acquisitions and investments in Fintech.

According to Tapfuma Musewe, founder of Afrifursa, “The fintech industry has grown astronomically under the pandemic and global partnerships are going to be key in realizing the industry’s full potential. Collaboration between Canadian and African fintech stakeholders is still largely untapped, so we are offering the Afrifursa Fintech Summit in order to reduce the barriers and forge direct linkages,”

Expected speakers at the event include Michelle Chivunga (founder & CEO of Global Policy House), Ronald Makomba (head of business development at Yoco), Christian Kajeneri (fintech strategy, services and products, MTN Rwanda), Mimi Kalinda (narrative shaper and founder of Africa Communications Group) and many more.

Canada currently has the fastest growing tech market in North America and is home to approximately 700 fintech companies, with 18 of these founded as recently as 2020.

Also Read: Nigeria’s spiralling debt burden

Africa’s ICT sector is doing much better compared to other sectors of the economy with several start-ups attracting international angel and venture capital investments. Countries such as Egypt, Nigeria, Kenya, South Africa, and Rwanda are the highest recipients of equity investments into start-ups, despite the general lack of competent political leadership across the continent. As at start of the year, 576 fintech start-ups operated and had their headquarters in Africa, implying a growth of 17.3% from 491 in 2019. 

Africa’s technology sector thus offers considerable opportunities for collaboration. The Afrifursa Fintech Summit aims to bring together dynamic entrepreneurs from Africa and Canada, acting as a platform for innovative collaborations.  Organisers hope that attendees will establish deeper and new channels of connectivity between Canadian and African fintech ecosystems.  Afrifursa  is keen on collaborations that promote social impact.

Registration is open at: https://pheedloop.com/register/AfriFin/attendee/

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