Kenya to host first Africa digital finance summit this month

By Joel Muinde On Fri, 5 Feb, 2021 17:58 | 2 mins read
An aerial picture of Kenya’s capital city, Nairobi. [PHOTO | FILE]
An aerial picture of Kenya’s capital city, Nairobi. [PHOTO | FILE]

Kenya is set to host the first Africa Digital Finance Summit mid this month.

The two-day event is scheduled to start on February 18 at the Villa Rosa Kempinski, Nairobi and has attracted speakers in the digital and finance sectors from across the world.

Under the theme “Decentralized Finance; Our Pathway to financial freedom,” the summit will bring together governments, central banks across Africa, start-ups, professionals and decision-makers across the world in the financial, economic, technology and blockchain industry.

Coming in the backdrop of the Free Trade Agreement in Africa, the summit will spearhead the conversation of re-defining value exchange for Africans and encouraging them to leverage on decentralized finance in their businesses and everyday transactions.

“Africa is the last frontier of endless promise,” said President Uhuru Kenyatta at a global conference where he encouraged the positioning of Africa as the continent to provide innovative solutions in digital finance.

The inaugural summit will be hosted by Glass House PR, a leading independent public relations agency in Kenya.

Speaking about the importance of Africa is at the forefront in the digital revolution, Glass House PR Chief Executive Officer, Mary Njoki, said that Africa’s rapid adaptation of digital solutions places the continent at the center of the digital finance discussion.

“The digital space has decentralized so many services that can be accessed from anywhere and this is no different from the financial services. It means that from the comfort of our homes, and with the tap of a button, we can make transactions across the globe. As Africa arises, the continent is rapidly growing as a consumer of the digital economy and it is time to bring the discussion to the continent,” said Ms. Njoki.

Speaking about the summit, Ms. Njoki said that the climax will be the launch of an online platform that will create blockchain and decentralized finance entrepreneurial opportunities for the youth in Africa.

The coronavirus global health crisis has shaken the different systems globally but has also has created an opportunity for economic transformation, demonstrating immediate benefits of financial inclusion. Governments across the region need to support digital finance in order to create a conducive ecosystem for economic growth.

The ADFS will comprehensively address issues affecting financial technologies innovations in Africa, policies and legislations that will guarantee a sustainable conducive environment for the uptake of these technologies as well as the empowerment of current and successive generations.

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