Published On: Wed, Mar 15th, 2017

Digital innovations disrupting Africa finance sector

WORLD REMIT 1LAGOS, (CAJ News) – INDUSTRY thought leaders from over 40 countries will gather in Lagos, Nigeria next week to address the future of finance in the age of cashless economies ushered in by technology innovations.
The summit, Cashless Africa Conference and Expo, comes amid digital disruption shifting the balance stay of power in financial services and influencing the way millions of people bank their money and make payments and remittances.
This is in a continent where mobile phone penetration exceed bank accounts and bank cards ownership, combined.
Leading digital payment solutions provider, Mastercard, has been unveiled as the headline sponsor of the sixth edition set for March 22-23.
Omokehinde Adebanjo, Vice President and Area Business Head of West Africa at Mastercard, will participate as a keynote speaker to discuss matters impacting Nigeria and the broader continent and how partnerships will be critical to shifting economies beyond cash.
“Partnerships across multiple sectors and stakeholders is a fundamental component to ensuring cash is driven out of the system and that smart innovative, and financially inclusive, solutions are introduced,” said Adebanjo.
With over 85 percent of retail transactions still made in cash and cheques, the potential for digital payments to make a tangible difference is immense.
Principal Associate of Mobile Money Africa, Emmanuel Okoegwale, said, “Our partnership with Mastercard is a demonstration of the technology company’s
commitment to seeking better ways of promoting a cashless culture across
Nigeria and globally.
CAJ News

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