Fintech stakeholders from around the world recently converged in Nairobi, Kenya, for the 12th edition of the Africa Fintech Summit. The three-day event, which ran from September 4 to September 6, 2024, welcomed 680 in-person delegates from 62 countries, with over 1,000 more participating virtually.
Focused on the theme “Fintech in Every Industry,” #AFTSNairobi2024 connected fintech innovators, banking and finance executives, investors, regulators, and ecosystem enablers for conversations around the state and future of fintech in Africa and the sector’s role in driving the growth of other industries. The focus was on fintech’s ability to improve efficiency, access, transparency, and reliability in industries such as insurance, healthcare, real estate, climate tech, and even governance.
#AFTSNairobi2024 kicked off with its customary VIP Dinner on the 4th. Dignitaries enjoyed fine dining and engaging conversations at the Nairobi Capital Club, courtesy of Onafriq and Circle. Both companies announced a new partnership geared at driving financial inclusion across Africa.
The mobile money panelists agreed on interoperability as the next level in unlocking mobile money’s potential to drive value for all stakeholders. For customers, it will remove the barriers that prevent the transfer of money between different mobile money services, enabling faster, cheaper, and easier transactions. For mobile money service providers, interoperability will increase the desirability of their products and create a larger market to tap into, while African economies will benefit from the ease of moving money that an interoperable mobile money ecosystem will create.
Day three was just as eventful. It began with three ecosystem tours tagged Investing in Kenya (sponsored by Bank of America), Expanding into Kenya (sponsored by CB Group), and STEM Students – Learning from Silicon Savannah (sponsored by Chevron). The first two focused on helping interested delegates understand the logistics of investing and expanding into Kenya, while the third tour aimed to provide STEM students with knowledge about Kenya’s tech ecosystem and how they can build tech careers. All tours took place within Nairobi and collectively had eight stops, including the Nairobi Securities Exchange PLC , Kenya Investment Authority (KenInvest) , Two Rivers International Finance & Innovation Centre SEZ (TRIFIC), and others.
Proceedings on the final day continued with masterclasses back at the JW Marriott Hotel, touching on everything from storytelling and branding in the startup world to how founders should protect themselves when negotiating with investors. The three-day summit came to a fitting end with the AlphaExpo Pitch Competition, which saw 15 African startups take to the stage to pitch their solutions to a panel of judges and attendees. Uganda’s Flow Global finished in first place, while Rwanda’s Ironji and Tanzania’s KiasiApp were second and third, respectively. All participants got $25,000 in AWS cloud credits courtesy of Amazon Web Services (AWS) , while the top three startups also won prizes from Numeris , African Media Agency (AMA) , Trends Research , and The Kenyan Wall Street .
Supported by several African and global fintech stakeholders, #AFTSNairobi2024 was a massive success. Attendees were particularly impressed by the quality of the conversations, interactions, and business opportunities, going by their reviews on social media:
“Last week, I had the privilege of participating in the Africa Fintech Summit in Nairobi, Kenya. It felt amazing to connect with fintech stakeholders from across the continent & strategize how to enable a thriving African fintech ecosystem as partners.” — Chad S. Pollock , Vice President & General Manager, Visa East Africa.
“We made sure to attend and participate in the Africa Fintech Summit and it blew us away with all the ideas and connections unearthed. I’m confident we will see more collaborations and innovations that will emerge from this experience.” — Amal Enan , Chief Investment Officer, The American University in Cairo & Partner, 500 Global , who attended the summit with a contingent of 500 Global’s portfolio companies.
“Yes, I had an incredible time at the 12th Africa Fintech Summit in Nairobi! Over the course of 3 days, I connected with amazing fintech leaders like Shola Akinlade, explored new partnership opportunities with existing and new businesses, and gained valuable insights to drive innovative solutions across Africa and beyond.” — Ivan K. , Sales and Partnerships Manager, Fincra .
As a bi-annual event, Africa Fintech Summit returns in 2025 with its customary Washington D.C. edition, which is set to take place on April 24, 2025, on the sidelines of the World Bank/IMF Spring Meetings. The date and location for the 2025 African edition will be announced soon. Stakeholders interested in speaking, partnership, and sponsorship opportunities can contact the AFTS team at info@africafintechsummit.com.
