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In a groundbreaking move for Kenya’s financial technology sector, five major representative associations have come together to establish The FinTech Alliance (TFA), a unified body aimed at fostering growth, innovation, and collaboration within the industry.
The newly formed alliance comprises:
- Association of Fintechs in Kenya (AFIK)
- Fintech Association of Kenya (FINTAK)
- Digital Financial Services Association of Kenya (DFSAK)
- Digital Credit Providers Association (DCPAK)
- Blockchain Association of Kenya (BAK)
A Unified Vision for Kenya’s Fintech Ecosystem
Speaking during the launch, Ali Hussein, spokesperson for The FinTech Alliance, stated, “Today marks a significant milestone for Kenya’s fintech sector. By uniting under The FinTech Alliance, we are better positioned to address challenges, seize opportunities, and drive meaningful change in the industry. Together, we will shape the future of fintech in Kenya and beyond.”
The FinTech Alliance aims to provide a collective voice for Kenya’s fintech ecosystem, advocating for initiatives that will position the country as a global leader in financial innovation. Its primary focus will include policy advocacy, access to funding, product innovation, and driving economic and social transformation through fintech solutions.
Key Objectives of The FinTech Alliance
- Policy and Regulatory Reforms
The alliance will engage with government agencies, regulators, and stakeholders to influence policies and regulations that balance innovation with consumer protection and financial stability. - Funding and Capital Access
TFA will prioritize initiatives that improve access to capital for fintech startups and established players, enabling them to scale operations and achieve sustainable growth. - Product and Service Innovation
By fostering collaboration among stakeholders, the alliance will drive the development of cutting-edge solutions tailored to the evolving needs of Kenyan and global markets. - Economic and Social Growth
Leveraging fintech solutions, TFA will work to enhance financial inclusion, create employment opportunities, and improve lives, contributing to Kenya’s overall economic and social progress.
A Platform for Collaboration and Global Competitiveness
The FinTech Alliance is set to serve as a hub for knowledge sharing, collaboration, and strategic partnerships across the FinTech ecosystem. It will also partner with international organizations to ensure Kenyan fintech solutions remain competitive on the global stage.
This historic collaboration among Kenya’s leading fintech associations underscores the country’s commitment to innovation and progress, further cementing its position as a leader in Africa’s fintech landscape.
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