Financial Inclusion Notes from Cape Town (Part One)

Over thirty hours on a plane and I am compensated with the fact that I will meet Kosta (@copernicc) and a bunch of friends in Cape Town, where in the opening plenary, Kosta and I will interview each other on the theme of collaboration, interoperability and Financial Inclusion.

There are 400 Millions of people unbanked in Africa, and we believe that giving them access to basic financial services in a sustainable way (meaning, as a business and not as a charity) will ultimately give them the opportunity to get access to (micro)credit, basic insurance, and safer lives.

I keep forgetting the fact that beside friends and family FinTech crowd for whom this speech will sound semi-obvious, I would like to think I can say something that might trigger some sparkle of passion and commitment in new brains.

Every year, EU alone pours 30B in Africa.
Every year, EU takes 190B from Africa.
This to enrich the richest, basically, behind the perception of “helping the continent”.

Using wisely the money to build Africa-led, self sustainable, growth driven project is key for a significant step forward for the continent economy.

There is no magic recipe, it starts by accessible infrastructure, both in terms of technology and in terms of cost of development ( would be a great example of it) and access to capital, and a tight involvement of the regulators to foster interoperability of financial services and Telco players. (This is a great example on what happened in Tanzania)

This is the topic of the scene at @seamless_Africa, I will post more in a discussion in a next post.

Stay tuned


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