GITEX Nigeria: Experts, investors to tackle Africa’s $1.5tn digital payments future
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GITEX Nigeria: Experts, investors to tackle Africa’s $1.5tn digital payments future
By Alabidun Shuaib AbdulRahman
Financial regulators, investors, banks, technology firms and startups will converge in Lagos on September 3 to explore ways of expanding Africa’s digital financial system and unlocking greater investment opportunities across the continent.
The discussions will take place at the FDX by GITEX Summit, holding at the Landmark Centre, Lagos, as part of the second edition of GITEX NIGERIA scheduled for August 31 to September 3 in Abuja and Lagos.
The summit comes amid projections that Africa’s digital payments economy could reach $1.5tn by 2030, with rapid technological development reshaping banking, payments, capital markets and access to financial services.
The organisers said the FDX platform was created to bring regulators, institutional investors, enterprises and high-growth startups together to address some of the structural challenges limiting financial participation and capital flows in Africa.
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The summit will focus on digital assets, artificial intelligence, intelligent payments, decentralised finance, capital markets, digital identity, cross-border finance and financial infrastructure.
The Deputy Governor of Lagos State, Dr Kadri Obafemi Hamzat, said the state was committed to developing a technology-driven financial ecosystem capable of expanding opportunities for residents and businesses.
Hamzat said FDX would provide an avenue for policymakers and industry stakeholders to develop forward-looking financial policies while accelerating digital innovation.
He said, “As the commercial and innovation engine of West Africa, Lagos is committed to building a modern, tech-driven financial ecosystem that leaves no one behind.”
According to him, better integration of financial policies and digital infrastructure would deepen financial inclusion, facilitate cross-border trade and support Nigeria’s ambition of building a $1tn economy.
Also expected at the summit is the Managing Director and Chief Executive Officer of the Ministry of Finance Incorporated, Dr Armstrong Ume Takang, who will deliver a keynote address.
Takang said mobilising institutional capital would be critical to achieving Nigeria’s economic ambitions, noting that MOFI was pursuing a long-term plan to build a N100tn portfolio.
He said the platform would connect policymakers, investors and innovators to develop partnerships capable of strengthening strategic sectors and generating sustainable economic value.
The summit will also examine the challenges surrounding trust and security in the adoption of emerging financial technologies.
One of the sessions, titled “Trust by Design: Navigating the Security Paradoxes Holding Back Digital Assets and CBDCs,” will examine how regulators and financial institutions can promote innovation without compromising security and public confidence.
Another session, “Access to Real World Assets and the Rewiring of Capital Markets in Africa,” will focus on ways of connecting Africa’s physical and financial assets with investment markets to broaden participation and unlock new sources of capital.
Among the speakers expected at the event are Jean Kambuni, Deputy Director, Capital Markets, Nairobi International Financial Centre, Kenya; Erwin Anet N’guetta, Chief Digital Officer for Operational Excellence, Digital Transformation and Innovation at the National Bank of Investment, Côte d’Ivoire; and Henry Amadiegwu, Chief Information Officer, Zenith Bank UK.
Amadiegwu said Africa’s transition to a more inclusive digital financial system would depend on the adoption of artificial intelligence, automation, modern infrastructure and technology integration.
He said the continent needed to move away from legacy platforms while ensuring that emerging financial systems remained secure, resilient and compliant with regulations.
Meanwhile, Mastercard is among the global technology companies participating in GITEX NIGERIA to showcase digital payment solutions targeted at improving financial access and reducing barriers to cross-border transactions.
The company is expected to showcase Mastercard Move, a platform connecting more than 200 countries and territories across over 150 currencies.
It will also demonstrate Tap on Phone, QR-on-Card and Pay by Link solutions aimed at expanding digital payment acceptance.
The Country Manager, West Africa at Mastercard, Dr Folasade Femi-Lawal, described GITEX NIGERIA as an important platform for public and private sector stakeholders to shape the future of digital transformation in Africa.
Other banking and digital finance exhibitors include BMONI, Edge Penny, GOSAR, Monica Technologies, Moove Payment, Raenest Technology Services and Softgem.
GITEX NIGERIA is held under the patronage of President Bola Tinubu and supported by the Federal Ministry of Communications, Innovation and Digital Economy in collaboration with the National Information Technology Development Agency, NITDA.
The event is endorsed by the Lagos State Government and organised by KAOUN International, the global organiser of GITEX events.
The programme will open in Abuja on August 31 with the Government Leadership and AI Summit before moving to Lagos from September 2 to 3 for the Tech Expo and Future Economy Summit, Startup Festival and FDX Nigeria.
The organisers said the wider event would bring together governments, investors, startups and technology companies to explore opportunities in artificial intelligence, fintech, cloud computing, cybersecurity, digital infrastructure and other emerging technologies.
