On 20 April – 21 April 2022, following the recently concluded Finnovex East Africa conference, attended by Caitlin Naidoo, our IT & FinTech Practice Coordinator, she shares her insight on the state of IT and FinTech in Africa.
The two-day conference consisted of panel discussions and speakers such as Microsoft and the Equity Bank of Kenya. A wide range of topics were explored including artificial intelligence, machine learning, mobile banking, digital payments, customer onboarding, customer identity and related-authority regulations. “These discussions touched on critical issues regarding FinTech regulations across the continent against the backdrop of the revolutionary potential of finTech on key sectors of the African economy”, said Caitlin.
According to the African Development Bank, “East Africa has been the continent’s fastest-growing region in recent years”. “It can be safely stated that the growth of the FinTech industry in these countries is a large contributor to their growing economies. Besides the obvious economic benefits that the FinTech space is creating, FinTech companies are of great value to Africa, specifically, in addressing financial exclusion, accessibility to services and overall improved livelihood of African people. The general prospectus is that FinTech will continue to boom in Africa and Centurion Law Group is ready for it”, said Caitlin.
Centurion Law Group’s IT & FinTech Practice is committed to collaborating with public and private actors and continues to leverage on its vantage positioning across the continent to provide sound legal advisory services to global players in the African FinTech industry.
Finnovex East Africa was a great way to engage in discussions taking place in the FinTech industry in East Africa. As a pan-African law firm, we at Centurion Law Group are determined to stay up to date with the latest FinTech developments, encourage investment in Africa and ease business operations through our legal service offerings. Should you require more information on our IT & FinTech practice, please contact Caitlin Naidoo at firstname.lastname@example.org