Financial inclusion takes center stage at the 4th MobileMoneyExpo in Lagos

JAN 15,2014

press release. 

The 4^th MobileMoneyExpo will focus on promoting financial inclusion in Africa, a continent that has shown great promises in the mobile financial services sphere but yet grappling with millions that are actively unbanked across all the regions. Financial inclusion has become the buzz word within the regulatory, policy,financial, innovators, technology circles and other stakeholders in the formal financial services space but significant barriers still exist stands in the way of reaching the bottom of the pyramid in Africa.

A recent report released by Africa Development Bank, Finance 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 mobilemoney in the past year. The African Development Bank predicts technology could be a 'game changer' in drawing the financially exlcuded into the formal banking world. 

Industry thought leaders all across Africa and beyond will address the financial inclusion gaps and oppourtunities to bridge the it 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 deleivering innovations mobile financial services , infrastrure and access channel challenges, building and incentfying agency network, 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 decisions 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.