Fintech’s Role In Bridging Financial Inclusion Gap in Africa

by Business Watch Team

The Head of Sales and Partnerships for pan-African payment infrastructure company, Kora, Adetola Oloke, has highlighted the crucial role of fintechs in driving financial inclusion across Africa, at the Africa Fintech Summit 2023, recently held in Lusaka.

During a panel session titled “Fintech in every industry: agriculture, healthcare, mining, and utility,” Oloke shed light on the tremendous potential of fintech in closing the financial gap faced by one-third of Africa’s population.

“With one-third of Africa’s population lacking adequate financial services, there is a great need to deepen fintech inclusion even across the most remote places on the continent. Fintech acts as a crucial bridge, enabling these individuals to participate in the formal economy, access needed finance and payment technology and improve their overall quality of life” Oloke said.

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“Over the next ten years, we anticipate fintech to revolutionize the African landscape, improving the quality of life and standard of living for Africans across the continent, and at Kora, We are committed to creating lasting impact and empowering individuals by seamlessly connecting them to the digital financial ecosystem.

Speaking further on Kora’s role in driving financial inclusion across Africa, Oloke emphasized that Kora’s mission is to enable local and global businesses to accept pay-ins, make payouts, and get settled across popular payment channels throughout the continent.

Kora’s commitment to financial inclusion is built on strategic partnerships with local and global businesses, actively working towards every business and individual gaining access to critical financial services. As fintech continues its expansion across the world with a UK expansion last year and payment processing in Kenya and Ghana, Kora aims to play a fundamental role in enabling businesses to accept payment and in uplifting the lives of millions across Africa.

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