The theme for this year’s Financial Inclusion Conference (FIC 2018) which was held in Lagos on the 6th of November, 2018 at the Eko Hotel and Suites was “The Business Case for Financial Inclusion”.
The aim of the event was to examine how to drive up the uptake of financial products and services specifically targeted at the poor and at the same time provide stakeholders with the right incentives to create and support these products and services.
The 1st session (“The Business Case I”) reviewed financial inclusion in Nigeria and its potential to act as an enabler of inclusive economic growth. Musa Jimoh, Director, Banking and Payments at the Central Bank, Robert Giles the group Director of Retail banking of Diamond Bank and Laoye Jaiyeola the CEO of the Nigerian Economic Summit Group were some of the panelists that lead the discussion during this session.
The 2nd session (“The Business Case II”) considered the Indian experience in financial inclusion and how to reposition financial inclusion priorities for Nigeria’s success. India has achieved great success in its aims of achieving financial inclusion and Mr Manoj Sharma CEO of MicroSave was invited to give the keynote address. The panel consisted of Ade Shonubi, recently appointed as Deputy Governor of the Central Bank, Jason Lamb, Deputy Director FSP, Bill and Melinda Gates Foundation and Boye Olusanya the CEO of 9mobile and they all examined how to reposition financial inclusion priorities for Nigeria’s Success.
Mike Foster, Head, Financial Services, The Department for International Development (DFID presented the keynote address for the final session (“The Business Case III”) and his speech focused on what will unlock growth and investment for Fintechs in Africa. ’
For this session, the panel discussion assessed some of the challenges innovators face in Nigeria and discussed ways in which the funder community could effectively engage in supporting the growth of this sector. This panel consisted of Luís Gravito, Senior Partner and Chairman, Lagos, Boston Consulting Group (BCG), Musa Jimoh, Deputy Director, Banking and Payment System CBN, Iyin Aboyeji, Co-Chair, Association of Financial Service Innovators and Kola Aina the CEO, Ventures Platform.
EFInA also took the opportunity presented by this occasion to present its new 3-year Strategy and formally launch its new FinTech Challenge Fund.