Nigeria: Mastercard Hosts 2024 Fintech Forum, Advocates Collaboration and Innovation to Elevate Nigeria’s Fintech Sector

In a testament to Nigeria’s burgeoning financial technology landscape, Mastercard, the global payments giant, convened key stakeholders at its highly anticipated Fintech Forum on March 20, 2024.

The forum served as a platform for prominent figures from the fintech community, commercial banks, microfinance institutions, payment processors, investors, regulators, and government officials to engage in robust discussions concerning pivotal developments and trends within Nigeria’s fintech ecosystem.

Mastercard’s unwavering commitment to nurturing and advancing the growth of the fintech sector was palpable throughout the gathering, highlighting its pivotal role in fostering collaboration and innovation to propel Nigeria’s fintech ecosystem to new heights.

Folasade Femi-Lawal, the Country Manager and Area Business Head for West Africa at Mastercard, reiterated the importance of industry collaboration and innovation in shaping the future trajectory of Nigeria’s fintech landscape. She stated:

“Mastercard’s Fintech Forum serves as a catalyst for advancing dialogue on industry development in Nigeria, and we take great pride in driving this transformation. This year’s discussions underscored the indispensable role of collaboration and innovation in sculpting the future of Nigeria’s fintech arena. Mastercard remains steadfast in our commitment to driving positive change, providing support, and spearheading industry evolution.”

The event featured a compelling fireside chat titled “Mastercard’s Role in Fintech Ecosystem Collaboration,” during which Dimitrios Dosis, President of Eastern Europe, Middle East, and Africa at Mastercard, emphasized the significance of fintechs as catalysts for innovation and economic progress. Dosis remarked:

“Fintechs stand at the forefront, pioneering innovation and reshaping industries. Their relentless pursuit of innovation is not merely transformative; it is foundational to our industry and the broader economy. As a leading technology provider, Mastercard takes pride in championing the pivotal role of fintechs and recognizes their importance in driving economic advancement.

“We are committed to fostering innovation, supporting, and collaborating with fintechs to develop locally relevant solutions and initiatives for maximum impact. Mastercard is dedicated to catalyzing the ecosystem, fostering a future where technology empowers individuals, businesses, and economies to engage in the global economy.”

Following the fireside chat, a panel session titled “Digitization and Its Role in Nigeria’s Economic Development” delved into the transformative potential of digitization across sectors, exploring opportunities and emphasizing the importance of inclusive innovation to maximize its impact on Nigeria’s economic progress.

Mark Elliott, Division President of Mastercard Sub-Saharan Africa, concluded the event by underscoring the pivotal role of the fintech industry in driving sustained economic development. He emphasized the imperative of inclusive innovation and collaboration to ensure the continued growth and prosperity of Nigeria’s economy.