As the Content Lead for the Inclusive FinTech Forum at Elevandi, I have had the privilege of helping shape the Forum’s content over the past five months. It’s an exciting time as we approach the launch of a groundbreaking event in the vibrant city of Kigali, Rwanda, jointly conceived by Elevandi and the Kigali International Financial Centre. The Forum holds the promise of fostering inclusiveness and sustainability in the realm of financial technology.
FinTech, positioned at the crossroads of financial services and technology, possesses the remarkable ability to revolutionise lives, especially in emerging and developing economies. We hope that through the Forum, we can empower the most vulnerable segments of society, by granting them access to financing, which would enable them to achieve financial independence. Moreover, we aim to enrich the African FinTech landscape and foster growth and expansion of successful African SMEs, which would allow them to offer essential goods and services to consumers within Africa as well as beyond.
The Forum signifies an exceptional partnership between Rwanda and Singapore, presenting a unique opportunity to expedite the implementation of financial inclusion and advance the FinTech landscape in Africa. With a primary emphasis on the Global South, spanning across Africa, Latin America, and Asia, the Forum aims to promote inclusive and responsible FinTech practices through technology and policy dialogues.
We’re proudly launching the Inclusive FinTech Forum at a critical point in time when FinTech is in a favourable position to contribute to global causes, given its intersection of finance and technology. However, the goal of making finance inclusive and accessible to everyone worldwide is still a work in progress and demands our collective participation and engagement.
During the three-day Forum, we will witness a momentous gathering of Heads of State, regulators, policymakers, founders, investors and decision makers from the financial industry. These leaders will carry the responsibility of steering us towards a more equitable, accessible, and sustainable environment.
Through impactful dialogues and meetings, we will advance policies and regulations to achieve broader financial inclusion goals, as well as create meaningful long-term connections and partnerships. Furthermore, Singapore has been actively engaging with African nations through targeted bilateral initiatives, focusing on areas such as supply chain finance, digital infrastructure, and cross-border B2B FinTech companies. These endeavours aim to address a wide range of opportunities and establish an international ecosystem, centred around Africa, that connects the Global South.
The Six Inclusion Topics to be Covered
The FinTech industry encounters various significant challenges when it comes to promoting financial inclusion, such as limited access to technology, low financial literacy, security concerns, regulatory barriers, affordability and accessibility and last-mile connectivity. Through extensive research over the past few months, we dove deeper to identify 6 key inclusion topics and problem statements that will be addressed at the Forum:
- Digital Payments – How to implement affordable and scalable interoperable Payment Infrastructure as a digital public good
- Digital Lending – How to scale and sustain affordable digital lending products for low and middle income segments
- Micro-Wealth Management – How to design micro-wealth and investment and products and services for low and middle-income earners
- Insurance & Pensions – How to develop and deploy micro-insurance and pension products for low and middle-income earners
- Capital Market Infrastructure – How to develop capital market infrastructure for emerging markets to accelerate financial inclusion
- ESG Financing – How to invest in and develop ESG-based financial products for all income segments
Next week, from June 20 to 22, these challenges will be addressed on various different stages and formats designed to advance policies and regulations, spark debate and ideate solutions for the successful implementation of financial inclusion best practices that can really drive actionable outcomes and create impact.
As we gather in Kigali next week, let us draw inspiration from the profound awareness and power of our interconnectedness. The Inclusive FinTech Forum invites us to seize this crucial moment and shape a future where innovation and finance merge to foster a world that benefits everyone. Together, we can chart a path that embraces inclusiveness, sustainability, and the transformative force of FinTech.
I look forward to welcoming you all to Kigali.
Sagari White, Content Lead for the Inclusive FinTech Forum, Elevandi