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Technology | Fintech

Nigeria's Fintech Industry Attracted Over US$700m in Investments in Q2, 2022

Oct 26, 2022   •   by Ottoabasi Abasiekong   •   Source: WebTV   •   eye-icon 305 views

Nigeria's Fintech Industry attracted over US$700m investments in Q2,2022 with prospects of more significant announcements before the year ends. The President of the Fintech Association of Nigeria, Mr. Ade Bajomo, disclosed this at the 2022 edition of the Fintech week in Lagos. 

 

According to him, the fintech ecosystem has evolved to be a key enabler of economic activities in the nation's economy. At the 2022 Nigeria Fintech Week "Navigating the New Normal: Sustainable Impacts in Fintech, e-Government and Emerging Technologies, " he noted that businesses understand that digital transformation without sustainability is not tenable for continuity.

 

He acknowledged that environment, social and governance (ESG), have constituted the core priorities of businesses and even investors big on impact investments.

 

"Our focus in the Fintech Association of Nigeria is to ensure that the ecosystem achieves its full potential. There is room for innovations from Agritech, Insurtech and Prop-tech alongside the adoption of emerging technologies like blockchain".

 

Ade Bajomo added that the industry has developed with minimal government intervention like Nollywood. He called for a well-thought-out collaboration with the government and an enabling environment to thrive.

 

Dr. Segun Aina, OFR, the Chairman of the African Fintech Network, in his remarks, described the growth of the Nigerian Fintech industry as remarkable and stressed the need for deeper collaboration with other sectors. 

 

He believed that the Nigerian fintech ecosystem would continue to lead Africa and provide leadership to the global ecosystem shortly. 

 

The opening day of the Nigeria Fintech Week featured a fireside chat on "Fostering Sustainable Impacts in Fintech, e-Government & Emerging Technologies." There was a keynote presentation on "Enabling the New Era of Financial Services: Safeguard, Control, Optimize," "Sustaining Fintech Growth and Building a Legacy,"  and product pitches. 

 

The event featured a masterclass on environment, social, governance and risk management, alongside a conversation on "Charting the New Tech Paths."


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