Financial inclusion takes center stage at the 4th MobileMoneyExpo in Lagos
A recent report released by Africa Development Bank, Financial Inclusion in Africa, finds that technological advances such as mobile money innovations have started to make inroads into banking the unbanked in Africa, with 14% of adults reporting they have used it in the past 12 months in comparison, of less than 6% of adults in all other regions globally used mobile money in the past year.The African Development Bank predicts technology could be a "game changer" in drawing the financially excluded into the formal banking world.
Industry thought leaders all across Africa and beyond will address the financial inclusion gaps and oppourtunities to bridge the gap leveraging on technology, policies and other innovations that lowers the barrier for access to formal financial services for the unbanked. From exploring the issues around delivering innovations mobile financial services, infrastructure and access channel challenges, building and incentivising agency networks, public trust identification systems for mass financial services and other compelling focus areas.
Announcing the outline programme for this year's conference, MobileMoneyAfrica's Principal Associate, Emmanuel Okoegwale said "Out of more than 200 mobilemoney deployments globally, over 100 are in Africa with West Africa alone accounting for 47 yet these are the regions with most unbanked when compared to other parts of the world." He further said the event will address what needs to be done to overcome the hurdles of reaching the millions of people who do not have access to formal financial services but yet own a phone in Africa.
The continental event is a must for decision makers and stakeholders in the financial services, mobile network, micro insurance, policy and technology sectors. The two day event is sponsored by Ingenico, Mfino, Verifone MobileMoney, Etisalat Nigeria and supported by Helix Institute, the worlds leading provider of digital financial training which will also deliever a workshop on agency management at the event. More information at www.mobilemoneyexpo.com.
