Renowned advocates of Fintech in Nigeria and India analyze the growth and transformations in the industry in a one-day webinar held on March 26, 2022. These key players include Uzoma Dozie, CEO, Sparkle Nigeria, Abilash Chaterjee, Techno-Commercial Professional in Fintech and Kartik Swaminatha, Author, 3F; Future, Fintech, Framework.
Organized by Career Learning International (CLI) College in partnership with Christ University India, the one-day webinar tagged, ‘The Growth of Fintech in Emerging Economies: A Case Study of India and Nigeria’, examined the challenges and unprecedented opportunities in the industry.
Between January and September 2021, African fintech companies raised up to $1.4 billion, signalling an increasing investor appetite for Africa’s growing fintech space. In 2021, Nigerian fintech startups raised almost $800 million. This was 120% higher than what fintech startups had raised in the last three years combined ($360.7 million). This is a testament to the exponential growth in the fintech industry.
The symposium shed light on some of the start-ups and technology firms that are challenging traditional players in finance, bringing democratization, inclusion, and disruption.
Speaking at the webinar, Principal Head, CLI College, Tioluwalogo Olakunbi-Black, said, “At CLI College, we have created a knowledge share and capacity building platform via local and international partnerships to bridge vocational and professional skills gap in critical growth sectors of our economy. This symposium is one of those knowledge share opportunities to promote the growing Fintech development and contribute to the deepening of the FinTech exchanges between Nigeria and India.”
Associate Professor, Christ University India, Prof. Jayant Mahajan added, “The Fintech industry is growing exponentially, presenting lots of business and career opportunities. The ecosystem is also changing rapidly, with digital technology, innovations, regulations, market structures, and convergence with other sectors. This change is even more rapid in Africa and Asia. Thus, it became important for us as Christ University to collaborate with leading institutions such as CLI College to drive conversations and provide resources that educate youths on how to effectively navigate today’s technology-driven society and provide insights on the Fintech industries in both India and Nigeria.”
The webinar brought to the limelight, the many benefits of the financial technology sector, highlighting the contributing factors of Fintech adoption and how Fintech stands as the major driver of financial inclusion in emerging economies such as Nigeria and India.