Highlights from the Africa Fintech Summit 2022
A Strategic Timing
Like every April edition before it, the Africa Fintech Summit 2022 (#AFTSDC2022) was strategically scheduled to coincide with the World Bank/IFC Spring Meeting. This timing allowed fintech leaders already in Washington, D.C., for the World Bank event to engage with attendees at the summit, creating a unique opportunity for networking and collaboration.
Connecting Continents
The U.S.-Africa investment relationship was a focal point of the summit, emphasizing the importance of connecting African entrepreneurs with U.S. investors. Notably, U.S. investors were responsible for 62% of the top twenty investment deals in Africa in 2021, underscoring the potential for fruitful partnerships and investments.
Keynote Address
The main event kicked off with an inspiring keynote address by Deniece Laurent-Mantey, Director for Africa at the White House Security Council. Her speech centered on the growth and expansion trends in Africa’s fintech industry. She highlighted the limitless potential of Africa’s technology sector, stating, “We are in the midst of an unprecedented revolution in digital technology—one that impacts every sector of the economy and social life, bringing people and nations closer together.”
Engaging Panel Sessions
Following the keynote, the summit featured 16 insightful panel sessions that delved into various fintech hotspots. Topics included embedded finance, investment trends, web3 and cryptocurrency, diaspora banking and remittances, fintech regulatory best practices, and the future of banking. These discussions provided attendees with a comprehensive understanding of the current landscape and future directions of fintech in Africa.
Expert Insights
The panels boasted participation from over 60 speakers and panelists from across the fintech value chain. Notable figures included Mike Ogbalu, CEO of the Pan-African Payment and Settlement System (PAPPS); Omosalewa Adeyemi, Global Head of Partnerships and Expansion at Flutterwave; and Tosin Eniolorunda, CEO of TeamApt. Their diverse perspectives enriched the conversations and provided valuable insights into the industry.
Workshops for Founders
Attendees also had the opportunity to participate in two practical workshops. The first, “PR for Founders,” was hosted by InsiderPR, while the second session, “Navigating Licensing and Regulation in Nigeria,” was coordinated by Pavestones, a law firm based in Nigeria. These workshops aimed to equip founders with essential skills and knowledge to navigate the complexities of the fintech landscape.
Excellence in Fintech Awards
The summit also featured an Excellence in Fintech award ceremony, recognizing major players in Africa’s tech ecosystem for their contributions. Awardees included:
- Excellence in Fintech-Banking Relationships: EcoBank
- Excellence in Fintech Investment: Future Africa
- Excellence in Cryptocurrency: 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
- Excellence in TradeTech: AFEX
These awards celebrated the innovative spirit and significant contributions of various organizations to the continent’s technology industry.
New Venture Competition
The event concluded with the New Venture Competition, a pitching session organized in collaboration with IBM. Six African founders presented their startups to a panel of judges, with Hio Sola-Usidame, founder and CEO of OnePort 365, emerging as the winner. His victory secured him a spot in IBM’s Hyper Project Accelerator, highlighting the potential of African startups in the global tech landscape.
Networking Opportunities
The post-event reception provided attendees with the perfect opportunity to solidify connections made throughout the day. A pre-event VIP dinner held on the rooftop of Hotel Washington further enhanced networking opportunities, allowing innovators to connect with potential collaborators and investors in a relaxed setting.
Looking Ahead
The next edition of the Africa Fintech Summit is set to take place in November in Cape Town, South Africa. Organizers are expected to share further details soon, promising another exciting opportunity for fintech enthusiasts and professionals to gather and explore the evolving landscape of Africa’s fintech industry.