Kenya is set to host a financial technology conference next week at a time sector players are under pressure to innovate and outpace existing traditional brick and mortar model.
The two-day meeting in Nairobi to be held from July 15, is expected to bring together high-level policymakers, business leaders, economists and financiers to explore sustainable financial services innovations from emerging African and Asian markets.
It is jointly organised by the Central Bank of Kenya and the Monetary Authority of Singapore and comes after a similar one in Singapore last year.
“The festival, which is christened FinTech in the Savannah, draws inspiration from the third annual Singapore FinTech Festival that was hosted by the MAS in November of 2018,” said a brief from the organisers.
“It shall bring together participants who include visionary speakers and icons drawn from across Africa, Asia and other parts of the globe to exchange ideas, forge partnerships and nurture thriving fintech ecosystems.”
Kenya is seen as a front runner in financial inclusion through digital innovations which are likely to feature at the conference.
He country was in 2018 ranked the third most attractive African market for private equity (PE) funding, indicating the huge promise despite multiple challenges arising from recent economic woes.
Consultancy EY (Ernst & Young) said in a report that Kenya’s fast-growing technology sector, nicknamed ‘Silicon Savannah’, drew the most foreign investor interest, supported by an improved business environment.