The Fintech Association of Nigeria (FintechNGR) has advocated digital inclusion, innovation and growth within and outside the ecosystem.
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The President of FintechNGR, Ade Bajomo, who stated this at a sixth yearly general meeting (AGM) in Lagos, said fintechs remain very crucial to the economy, stressing that they have revolutionalised payment sector greatly.
Bajomo said the premier national fintech association in Africa, remains committed to accelerating fintech growth, fostering innovation, and advocating regulatory reforms in Nigeria’s dynamic fintech landscape.
He revealed that with over 2,580 corporate and 117 professional members spanning 21 sectors of the economy, including banking, fintechs, incubation and acceleration, ICT, AgricTech, EdTech, HealthTech, and insurance, FintechNGR continues to shape the future of the fintech industry in Nigeria.
Addressing members at the AGM, the president expressed gratitude for their dedication, selflessness, and contributions to the association’s exponential growth over the past six years.
Bajomo emphasised the association’s commitment to achieving its three-pronged mandate of accelerating, connecting, and advocating for the fintech ecosystem.
Financially, he disclosed that FintechNGR gross revenue reached N190, 551,861 while reserves grew to N80.6 million. He disclosed that membership growth has been remarkable, as FintechNGR expanded from 56 members in 2018 to an impressive 375 members in 2022, stressing that the association represents sectors in the Nigerian economy, fostering collaboration and knowledge-sharing among its members.
The president said throughout the year, FintechNGR spearheaded various initiatives to promote innovation and advance the fintech ecosystem, stressing that these activities included engaging regulators through the Regulator Forum, training insurance practitioners on InsurTech, collaborating with global fintech festivals, among others.
Looking ahead, he said FintechNGR aims to build on the successes it had in 2022 and do more in 2023, by among other things strengthening strategic relationships with regulators, developing talent through capacity-building programs, and collaborating with local and global stakeholders, the association strives to drive economic development and digital inclusion through fintech solutions.