 Welcome back. It's still the breakfast and plus TV Africa. We're here to talk about set to talk about the fintech sector in the country, of course It's been a past an industry that has seen a lot of growth in recent times massive growth in Nigeria's fintech space It's said to be amongst the best performing in Africa today And we're glad to say joining us on the breakfast this morning to discuss the prospects of Nigeria's Fintech sector and indeed a forthcoming fintech summit that call it the fintech summit we have the head of growth of Techpoint Africa Christopher Amelie and of course the senior editor Techpoint Africa Kolaoli or Lua Nifemi Joining us on the program this morning Lady and gentlemen good morning to you and thank you very much for your time Thank you All right. Can you hear me or Lua Nifemi? All right, fantastic Let's talk about the fintech space in Nigeria. It's said to be amongst the best performing in Africa. We've heard about things like fintech unicorns and Norvat For those who want to really understand what we're talking about. Let's start from the basics What exactly is fintech? I think we'll start with you Christopher. What exactly is fintech? Okay. Thank you so much for that Fintechs are financial service companies that help People and Nigerians and Africa's to include them into the financial services the way we know banking and and People being included in financial services in the past was imagine you have someone from a remote village who wants to Be included in the financial services in the country The only way they could do that was through the banks, right? You have to go open a bank account and then when you needed to We draw your money or even have a complaint and all of that you have to go into the bank But recently we've seen innovation in that space and these are the kind of companies that we call the fintechs companies that bringing one financial service or another to help individual companies and the likes to Participate in financial activities without any is something like me Before if I needed to save up money or the likes I needed to do it through the bank But right now there are companies that can help me do that From my house in the comfort of my home and I'm able to probably open an account and run any kind of financial Service that I need to run be loan Whatever I need to do and these are the kind of things that fintechs are doing in this space. Thank you so much interesting alone if I mean Christopher's pictures, you know painted a very interesting picture for us to understand them for our listeners So what we mean when we talk about fintechs and I can put a word financial and technology together Some years ago. It was pretty difficult for any business person in Nigeria to have a An API let's call it that an API On their website or some sort of point-of-sale Link, you know where you could just click and then pay a merchant on his or her website From the comfort of your phone you have to apply to a particular company in the country You had to go through a lot of Checks and they had to pay a lot of money to get that link, you know on your website or whatever platform that people could Pay to you. I'm not going to mention names now and then some young dudes came in and said no We're going to make it easier. I think the word if we use is democratize We're going to make it easier for people to just just for free for free or just for little money get a link Where it can they can share the people for people to pay them online I recently I saw I saw that this this Bermoth of a fintech company, which was like the only player now is is telling people, you know You can come and get the same service for next to you know free almost free What would you say about this this revolution, you know this democratization of the financial technology space in Nigeria? Although any family, okay. Yes Yes, yes, we can yes Yeah, so um I think we should see this coming right the main goal of any Technological solution is to make life easy And I will take the instance of saving money What would have done to save money in the past is probably take your money to the bank try to tell her go to the Front of the cashier and drop your money Then you're told that your money is in your back account or do tricks Wait for one but a larger in quotes. It is collect all to come to your house and collect it They need to take note it down on a sheet of paper But the east that fintech is bringing is to make sure that somebody that Does this want to go to the bank for instance or someone that doesn't feel that their money is safe with a truth correct Collect all and pick up their phone go on a platform and drop their money move their money from their back account And move it to another wallet and it is safe there So democratizing is something that would definitely come as much as we Celebrate technical advancement. This are the kind of things that it will drink And it is what you expect if you want many people to accept these services But it is supposed to be a type able to everyone even though the ways of financial inclusion is still kind of low But to a large extent more people are getting Included and it's even best Interesting because some of these technical services are also including people that are not connected online They make use of agents now agents goods goes to the field goes to the market places of people that use feature phones Go to villages and they help them to open accounts They now serve as intermediaries between those to be one of the account and the people are doing the services So in a way they are including these people such that it for instance a Person of those they have a back account, right? It wants to ask for a look a person that That person is in this working with an agent for a platform, right? You can always go to that platform and that platform can help them generate a transaction Like it's a national history that it can prevent to get through So that's the interesting part many people that would have been excluded naturally because of the prospects because of the level of Let's say of the level of exposure that they have are now being included because of this Services, so it is something that is good to celebrate Interesting interesting a crucifer we've seen I mean huge influx of Funding in in this sector we hear that we have what we call the unicorns in Africa and The majority of the unicorns you have in Africa are from Nigeria. I Wanted to speak to the potential the impact or speak about the impact of of Nigeria the performance of Nigerian startups as far as the African Ecosystem is concerned when you talk about fintech startups. Why is Nigeria performing so well? What other things in the country are not going well? so Thank you so much for that question we have the numbers and Naturally, I mean Nigeria so I will tell you that Nigerians are really really innovative We have really really young people who are Really able to do great stuff, right? For any business one thing you want to also look out for is the fact that if I open this business was like Total available market, right? If you start in Nigeria, we have the numbers We are the The country with the largest number of people population in Africa, right? And we an average Nigeria is also not if you're afraid to try out new things I remember the first time I encountered a company like pigivness In Right the first time I had that conversation with the cousin of mine I said I have this app where I put my money and I save it in it and my money there The person went oh what if your money gets missing, right? But over time we've seen that people have embraced this a lot So I will say is number one the numbers we have the numbers if it's adopted in Nigeria Do you know put that before you even finish? Solving the problems that is in Nigeria and say I want to scale and go to other parts of Africa You have been able to do something great So the number is there and the willingness of the people to try out new things And also the willingness of the youths to to produce and come up with new innovation, right? That's what I think is thriving and then Yes, there's the part of policies and and the likes, but we can see with the passing on of the national Nigeria startup view that even that is something that we are all Looking at and saying how do we get better in this? So I think Nigeria is taking the lead because number one like I said the numbers We have the population if you are able to crack it here It means you can scale it in other parts of Africa Amazing amazing. I mean over one billion according to your article on techpoint.africa over one billion dollars Raised by Nigerian fintech startups between 2018 and 2021. That's that's quite a lot of money You know, so let's talk about the fintech summit by tech point Africa What is the fintech summit about why the focus on fintech and any of you can choose to answer this question? We we've called us we discovered that there's actually fintech in everything and fintech affects everything This is what I'm talking about say insurance for instance is a little on top the market It is a market. It should register on an insurance platform Like there is like an added layer where you can pay on that platform Where you can be paid on that platform although insurance platform is not a printed Platform on its own, but it has an addition of a fintech to it so another instance is a Platform when you can buy stuff Or even maybe it's not even a website. Maybe it's an Instagram account and you're an Instagram vendor But you can add something to it that can make people to pay you directly from that platform So in the real sense This fintech in everything affects everything This is what we thought in tech point Africa and since we are to understand the custodian Things like telling people about the impacts of tech in Nigeria in the whole of Africa and now even big tech affect the continent we felt that is the good sign to Explore this part of this part of technical advancement All right, since we are having a difficult And you don't even have to And you don't even have to be concerned about it because you set it down and every month And I'm not automatically deducted from your accounts and it goes into that savings But if you are retiring and 50 you have something waiting for you now imagine you second That's good for yourself So these are some of the things you want to discuss at the fintech summit We want to discuss how to build a fintech product if I develop an engineer or somebody that has a dream to have a start up we will talk about Platforms that can even help you to build those and those products for instance We are a wide-line sponsor is one liquidity and they have a platform that you can build a product from That is one of the benefits that you have to attend this event Interesting. All right, Christopher and me. Let's look at the the details of the fintech summit put together by tech point Africa Can you give us the date, you know the theme of the summit? And what we have to expect to what some of the attractions of this forthcoming tech point summit by Fintech summit rather by tech point Africa Sorry about that. So let's go the details of the summit. I mean, where and when is it holding? Where is it holding? What are some of the the the the Who are some of the participants? What should people expect from the summit? What are the themes? What will the focus be? The discussion areas in the forthcoming tech point or fintech summit rather by tech point Africa Okay, so I would take the part where you ask what people come in and what should people expect my colleague will talk more on the content part What should expect to learn and the likes What the people coming From our registration Most of the people who are coming developers people who Have software development skills who are working for one Tech company or another and one of the things that we want them to come and learn is Do you want to build a company? A fintech company like the next page stack or the next flutter wing There is a company like niffen mentioned that sponsoring the the fintech summit called one liquidity That can help you do that right who are also the other people coming one of the things niffen Me talked about my colleague talked about is the fact that Way more than ever before the average Nigerians you can build wealth, right? You can stay in the comfort of your home with an app like truth. We are able to buy US stocks Nigerian stocks It's no longer like it was ten twenty years ago Where you are not able to do this right now these things are in front of you So I believe that there are no more excuse within people who Have jobs that the end hundreds of thousands Over the years working 15 20 years and immediately they retire poverty came upon their family because there was no Things that could help them plan. So we're saying to the youth Saying to whoever you are whether you matter your age that you should come to the fintech summit not just Being able to learn in terms of content But you are also able to interact with fintech companies companies that can help you do this as a big economy worker Someone because this is something a trend we've seen in Nigeria recently. I mean Nigeria, but I will be I'm working for a company Outside Nigeria. How am I able to receive my pay right? From from the company I'm working for how am I able to receive my dollar right to make sure that I get it here in Nigeria Without all of the hassle of middleman and the likes right and these are the possibilities that fintech give Gives to us. So anybody that wants to and then if I may talk more about that people who are also looking to change career Say you are in a dead-end job and you're wondering how would this job ever even make me get anywhere in life, right? There is a vast opportunity To be one to do one or two things in the fintech space from being a product manager To being a b2b sales person to being a programmer designer the opportunities are endless, right? So yes, these are the kind of people that will be attending in terms of companies We have over 26 fintech companies that will be gracing the event on that day that have come on board It has sponsors or as exhibitors and we want people to come around to meet these companies Because one thing we've seen is in the space also trust matters, right? So you want to use an app If you take up where you're asking yourself is my money safe because when it comes to money We are all very very How do I put it now? We are all very very holding we are all holding it close to our hearts But I believe that physical interaction being able to meet these people and put a face to them and say Okay, I know someone from that company. I met someone from that company, right at that event should be able to help in navigating this this this Process so yeah, those are the kind of people that we believe should be at events And we've seen in terms of our registration and then we have the C level executives who are buying VIP tickets Because we have a high-level networking experience on that day where you are able to network with top executive in some of this Fintech company. So my colleague will talk about the content and parts of the event All right, although anything less let's get that from you What are people to expect or what are the details of the fintech summit by tech point Africa the date? Venue the time and how you know the public can get to be a part of it, you know by registering Yeah the date is 25th of November 2022 in this Saturday, we are a few days away from it And the venue is called points by Sheraton on the island Victoria Island Lagos And What do we need to do what you need to do to get a ticket it's to go to fintech Tech point dot Africa. I'll say that again Tech dot tech point dot Africa and you can get regular ticket for 4000 Naira I or you can get the VIP ticket for 50,000 Naira That's Chris mentioned there is a high level of networking that you have access to you have access to the To stay in the same room with the speakers because see level executives from from different fintech companies Leaders in the fintech industry who are going to teach you of course I'm going to teach you but then you will have Access to them to network with them and also have other conversations with them if you get the VIP ticket About the content you will have access to if you are starting if you are planning to start a career in tech And you're looking at if an industry like the fintech industry that has a lot of money that has like that Is that the vp street art that everybody wants to put your money in fintech? We want to shop out of that money You should come because we have access to it section where you will be told which Careers you can pursue in fintech What you should expect what are the skills you have to develop and it's okay You are planning to transition into fintech from another industry. You also get to know that Also, if you're planning to build a fintech group of today's another session that we tell you all the prerequisites You have to put in place Let's work that you have to have before you go into it Also, if you're looking for customer for a fintech product It's not the best place to be that is the best place to be because people that will use your product have to be Lighting about the product. So if you are just please you'll be able to make people that This is a basic knowledge about fintech and you can also pitch your products to them Let's tell them to come and use it like if you want to on both customers just come for your fintech product So that that is a lot of books and a lot more What we're going to have there Especially I try to emphasize this network thing If you want things to know what you need is another thing to not be left out Because if you don't network if you don't meet the people that will keep making you back to things that will benefit you Then you have to have the point. So you have to come a network after learning you will network make Credible contacts that will help you going forward in life All right. All right. So for those who would like to register You are saying they should head to Fintech dot tech point dot Africa Hello, any family? Yes. Okay. Fantastic. So Africa all right So, so please take take us through through just to summarize the date the venue the time Okay, like my colleague said the date is on the 26th of November That's this coming Saturday The venue is four points by Sheraton if you're driving is very easy for you to locate If you are coming by public transport All you need to do is if you're coming from the mainland or the island Just stop at the bus stop that is called Sanfie and from Sanfie Do you be able to look up and you see four point by Sheraton just come around and we'll be able to to meet you Structure of the event. There is a main event Where we have a keynote Speaker and from that keynote we want to have a little debate to find out how Fintechs affect everything That we do like like if I'm already talked about Without your business owner We're trying to to get your customers to pay you instantly instead of the hassle of probably going to the bank I'm paying you and you want him to confirm and that takes a lot of time for you To to then do your business transaction after the main event We're going to have four breakout sessions and those four breakout sessions will be going in depth for two hours In discussing each topics one of the topic is how do you view the career in fintech? Another one is how do you start a fintech startup? The other one is securing to more embedded finance integrating fintech into your startup. So say I'm selling cakes I'm selling Weeds or even I'm selling shoes and all of that, right? How do I integrate a fintech product into My offering so that like I said earlier people can just click one click and they are able to Purchase from me and also how do you hit your next one million? Fintech customers and for brands one of the things we we've seen that they get a lot from this event is number one awareness For their products these a space that they are lots of players in it And there will be more with time right and how do you make sure that when people think about your own vertical? That you are top of mind and how do you also generate leads generation of leads means you are there on that day We are we are expecting over one thousand people to attend all of these wonder one thousand people How do you have conversations with them to onboard them into your product on that day and then thought leadership? How do you position yourself and your brand as a thought leader in the industry and we believe that for brands this Plays a very crucial part in helping them Not just acquire customers, but also keep their customers. I don't know that what's your question All right. Fantastic. I'd like to thank both of you for your time Tech point Africa coming away with the fintech summit and of course you can register at Fintech dot Tech point dot Africa you can go there for more information Christopher Nellie is the head of growth for a tech point Africa And of course call our Leo Luan if I mean senior editor tech point Africa. Lady and gentlemen Thank you very much for your time and for giving us the information and also giving us the analysis as regards the fintech sector in Nigeria All right, all right. All right. Have yourself a nice day Christopher Thank you as well, and we'll take a break when we come back Have you ever been faced with a flight delay or flight cancellation on an airport anywhere in Nigeria? My guess is you probably have we'll look at that What's responsible for that and of course the way forward for this situation in the aviation sector? This is in general of the vision safety roundtable initiative joins us ahead. Please stay with us