The Kigali International Financial Centre (KIFC) is scheduled to hold a forum on financial technology (FinTech) on Wednesday, February 2, in Dubai, United Arab Emirates. The forum will be dubbed: “Kigali International Financial Centre: The Home of Africa’s FinTechs” and it is part of the different activities organized around the Rwanda National Day at the ongoing Dubai Expo. The forum will feature expert-led discussions focusing on the game-changing role that KIFC is playing in connecting global investors to FinTech opportunities across Africa. It is also part of a four-day trip organised by the Rwandan government which aims to build bridges between the UAE and Rwandan business communities whilst exploring untapped trade and investment potential. KIFC aims at providing a conducive environment for investment and resources needed to drive the levels of entrepreneurship and digital skills required to build an emerging FinTech ecosystem. Increasingly, advancements in technology have seen a rise of African based unicorns, especially in the financial technology space, offering payment or banking solutions. Nick Barigye, CEO of Rwanda Finance Limited (RFL) said that with about 70 per cent of the investment deals going to tech-based products, attracting fintech oriented investors and creating a thriving fintech ecosystem, is important to KIFC. The forum is also seeking to borrow from UAE’s evolving FinTech landscape which has been known to provide inspiration to and partnership opportunities for Africa’s FinTech community. At the forum, panelists include Paula Ingabire, Minister of Information and Communications Technology and Innovation; Barigye; Oluwatosin Ajibade (Mr. Eazi) Founder of Empawa Africa; Vusi Thembekwayo, Chief Executive of MyGrowthFund Venture Partners and Angela Homsi, Founder and CEO of Angaza Capital. Across the country and the region, there are market opportunities for Fin-tech firms as the countries seek to drive financial inclusion. This includes financial inclusion, financial savings services among others. Among factors that have improved the country’s readiness for Fin-tech investments include ease of registering a business in 6hrs, innovation friendly regulatory ecosystem as well as access to world class accelerators, investors and Venture Capitalists. Further factors that make the eco-system ideal for Fin-tech firms entering Rwanda include having access to globally competitive skills at affordable rates. Rwanda is increasingly ensuring access to necessary skills and capacities out of the local initiatives to boost talent.
