East Africa’s fairly developed infrastructure and communication sector, a young educated tech savvy population and their ability to capitalise on technology development provides a great opportunity for the region to lead in the Islamic Finance digital economy, according to Agnes Gitau, from GBS Africa.
Gitau was speaking ahead of the third edition of the East Africa Islamic Economy Summit, which will focus on financial technology (fintech) as a driver for Islamic Economy in East Africa, as well as financial inclusion in the region. The summit is slated for January 24-25 in Kenya’s capital, Nairobi.
According to the organisers, the conference will look at key factors that will impact the development of Islamic economy in the region and call on all stakeholders to play their role in advancing financial inclusion in East Africa.
According to Gitau, this year’s programme will cover Islamic economy to define its role within the financial sector; the emergence of fintech, opportunities for East Africa in the Islamic digital economy which, according to EY (formerly Ernst&Young), has the potential of 150 million new customers by 2021.