The Brief: Payant Reaches Billion Naira Milestone, City of London’s Mayor Visits Nigeria, Ghana Tech Week Launches in Accra

In this week’s roundup, fintech startup, Payant, reaches milestone of N1 billion transactions in 2018, Global Startup Ecosystem launches Ghana Tech Week in Accra, and City of London’s Mayor, Charles Bowman, visits Lagos for fintech roundtable.


City of London’s Mayor, Charles Bowman, Visits Lagos for Fintech Roundtable

City of London’s Mayor, Charles Bowman, attended a roundtable session in Lagos which explored opportunities to expand Nigeria’s fintech ecosystem. Enhancing Financial Innovation and Access (EFInA), Nigeria’s premier financial sector development organisation, and CcHub hosted the session.

Attended by financial sector regulators, fintech companies, and stakeholders, the meeting addressed the need for strategic collaborations.

EFInA organised this meeting with its primary agenda in mind: to promote financial inclusion by strengthening the present infrastructure in the financial industry. This aim would enable fintech companies to assume a greater part in the efficient delivery of financial services to marginalised individuals in  Nigeria’s banking sector.

The Electronic Payment Specialist for EFInA, Folasade Agbejule, gave a presentation on financial inclusion. He stated that the provision of grants to financial service operators through the Innovation Fund would ensure greater financial inclusion. “EFInA targets the economically deprived population by sharing risks with Financial Service Providers (FSPs) through its Technical Assistance Grant and the Innovation Grant subsidies to the amount of $250,000 and $2,000,000 respectively,” he added.

During the meeting, Mr Bowman gave a statement about collaboration with Nigeria’s fintech sector saying “We intend to build on this opportunity to support and promote innovation in financial and professional services.”

Tunde Kehinde, the Co-Founder of Lidya, believes that greater projects in the financial development sector would aid the growth of fintech in Nigeria. Furthermore, he emphasised the significance of partnerships between fintech companies, banks, telecommunications companies and stakeholders in the country.

Nigerian Fintech Startup, Payant,  Reaches Milestone of N1 Billion Worth of Transactions in 2018

According to Aminu Bakori, the Founder and CEO of the company, Payant increased their customer database and payment options, which helped them reach this milestone. Card payments were the primary option. However, account payments, money transfers and collections at banks raised the volume of the processed transactions. Mr Bakori believes that the company can only survive if it remains innovative and creative in providing new, effortless payment methods.

Launched in 2017, Payant is an online invoicing service which allows customers to invoices, send payment alerts, and receive instant payments.

The Women’s Pioneers Summit Among Many Tech Initiatives to Feature at the Ghana Tech Summit

In collaboration with other international tech week programmes, the Global Startup Ecosystem (GSE) launched the Ghana Tech Summit this week across Accra, after the success of tech week initiatives in cities such as London and Nairobi. These summits bring together influencers, stakeholders, initiatives, and hosts programmes.

The first Ghana Tech Week will be comprised of useful tech-related events. The Women’s Pioneers Summit identifies top female leaders and influencers who lead business, tech, and policy within their industries and communities. The summit includes a workshop event featuring prominent women in tech.  Some other summits include: Smart City Ghana and the Exponential Tech Summit.

The Ghana Tech Summit launches on July 18-20, 2018 at the Accra Conference Center.