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Second Africa Cashless Payment Systems Conference

DATE: December 5, 2022. 

VENUE: Rotunda Hall, Federal Ministry of Foreign Affairs, Abuja. 

 HISTORY OF THE EVENT: For many decades, Africa had limited access to traditional financial services such as reliable financial technology, loans, insurance, and credit facilities. However, the continent has recently witnessed unprecedented growth in its Financial Technology sector (popularly known as Fintech). This growth is as a result of the fact that some foreign investors have realized the huge potential and speed Return on Investment locked down in the continent. 

2021 was a record year for fintech investment in Africa, and the momentum is likely to increase in 2022. After the brief economic disruptions occasioned by the COVID-19 pandemic, deals came back with massive foreign investment inflow. Available data showed that over US $1.6bn were invested across 153 deals, two times the value in 2020 (US $800m) and representing a 50% increase in transaction numbers. 

The key investment markets remain Nigeria in the West, Kenya in the East, and South Africa in the South. Other countries such as Egypt have also seen some sizeable deals. In Nigeria, the value of deals in the first quarter of 2021 alone outstripped that of 2020. To raise such a quantum of finance from foreign sources is unprecedented in a period when other economies are witnessing very slow recovery from the pandemic. 

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Africa is the second largest banking market in the world today in terms of growth and profitability, partly because of the rapid adoption of new technology. Although most customers are yet to enroll into tech-enabled banking solutions, such facilities are available in about 80% of African banks while the rest plan to roll them out in the nearest future.  

Only 12% of African banks can be regarded ‘digital-first banks’ because of the level of cashless transactions is can support while another 48% are transitioning towards becoming ‘digital-first banks’. Hence, the landscape for digital and cashless banking in Africa will become a battle ground for international investors and digital solution vendors in the nearest future. 

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In 2021, Fintech startups in Africa attracted a whopping $3.03 billion in investment. This accounted for a massive 62% of the total investment inflows, according to the latest Africa Investment Report, which was published by research and intelligence firm, Briter Bridges. 

Africa is regarded as the world’s second-fastest growing and profitable payments and banking market after Latin America, according to McKinsey study, and this only means that the fintech sector is likely to continue to attract investors tapping into its increasing growth opportunities. 

The continent is inching towards becoming a global leader in mobile money adoption, accounting for the bulk of the mobile money transactions made in 2020 – a year that saw the number of mobile money accounts rise by 43%. Mobile money success across the continent is likely due to ease in access brought by advancements in telecommunications technology, wider coverage and internet penetration. 

THE CONFERENCE: The fulcrum of the second edition of Africa Cashless Payment Systems Conference is to trigger the development and implementation of safe, reliable and efficient national payments systems and Financial Market Infrastructures (FMIs) in Africa which is very crucial in achieving a secured, affordable, accessible payment solutions as well as expand financial inclusion, foster development and support financial stability in Africa.

PURPOSE OF THE CONFERENCE: It will be a one stop shop where financial institutions, investors and consumers can access the latest innovations that will underpin the next phase of financial innovation and transformation. It will provide the needed platform for Fintech companies and vendors of financial solutions to interface with consumers and policy makers so as to enhance seamless and secured digital financial transaction across the continent with minimal disruptions. 

The conference will bring together the brightest minds from across Africa to discuss Digital Financial Solutions, Cyber Security, e-Commerce, Digital Retail Banking, Payment Systems, failed transaction crises as well as tackle other challenges in the digital market. It will ignite new ideas and inspires the audience to think differently.  

The goal is to provide an avenue for a productive dialogue among digital financial solutions stakeholders where digital product vendors, consumers, the academia, and regulators will brainstorm on mutual concerns and challenges to efficient product deliverables. It will seek to foster collaboration and debate on key Fintech topics including efficient and fair regulation and financial inclusion.  

At the end of the event, FIN is targeting about 20% increase in financial inclusion in rural communities in Africa as well as 10% reduction in cyber loses and incomplete transactions. It also wishes to secure Foreign Direct Investment (FDI) worth USD $1 in Mobile Money technology, hardware manufacturing and software development.   

EXPECTED GUESTS: His Excellency Buah Saidy, President of African Governors of Central Bank and governor of Central Bank of Gambia, Dr. Ernest Addison, Governor Central Bank of Ghana; Godwin Emefiele CBN Governor. 

Some other expected personalities included: Dr. Isa Ali Pantami Minister of Trade and Digital Economy; Mrs. Vera Esperance, Minister of Finance Angola; Hon Ursula Owusu-Ekuful Minister of Communications and Digitalisation Ghana; Michael Miebach CEO Master Card; Mr. John Alan Kyeremanten Minister of Trade and Industry Ghana; Mr. Solomon Nwamba CEO Majestic Coin; Miebaka Kenneth Akodi Chairman Nairanet Technologies Limited; Akin Fayomi Vice President Citi Group UK and Director Foreign Investment Network; Nnamdi Ekeh CEO Konga and many more.  


  • Participants will expand their network by meeting influential top fintech executives. 
  • Meet leading tech-enabled financial solutions vendors. 
  • Visit exhibition booths for cutting-edge fintech demos. 
  • Listen to first hand expert advice and presentations. 
  • Connect with CEOs for expert advice and business incubation strategies. 
  • Experience cutting-edge financial product. 
  • Understand the nuances in digital economy and crypto market and other digital assets. 
  • Meet key financial policy development stakeholders. 
  • Discover latest innovations and products in the financial system. 
  • Have a one on one audience with cyber security experts. 

ATTENDANCE: About 500 participants from 50 countries are expected to participate in this event. There will be 400 Fintech solutions exhibition booths, 10 presentations, 10 Expert Speakers, 6 group projects and 4 Panel Discussions.   

Expected participants include: 

  • Fintech Experts  
  • Global IT Technicians  
  • Bankers  
  • Law Makers  
  • Central Bank Officials  
  • Policy Makers  
  • Governmental Agencies  


  • From cash to cashless: The Journey of Cashless Payment Systems in Africa. 
  • Cashless Financial Transactions and the role of Technology. 
  • Financial Transaction Standards in a digitized Africa. 
  • The challenges of Cross Border transaction. 
  • Financial Fraud Detection in a cashless world.
  • Money laundering in a cashless payment system. 
  • The Future of Cashless Economy in Africa. 

FIN AWARD: The event will come to a close with a Cashless Award Dinner where outstanding Digital friendly government, Fintech companies, Policy Makers, Corporate Organisations, Start-ups, Financial solution providers and Corporations with outstanding Corporate Social Responsibilities will be presented with a Certificate of Honour. 

ABOUT THE ORGANISERS: The event is organised Cashless Africa in partnership with Foreign Investment Network (FIN). FIN is a global consulting company and publisher of the foremost investment magazine, FIN Magazine. We are also the representatives of Forbes Emerging Market in Africa. 

For over 20 years, Foreign Investment Network (FIN) a United Kingdom-based company has been a key drive of Foreign Direct Investment (FDI) for Africa and other developing economies. FIN is a consultant in Oil and Gas, Agriculture, telecommunications, Metallurgical & Engineering Industries, Infrastructure, Maritime for financing, project assessment, and Risk analysis. 

MAIDEN EDITION OF CASHLESS AFRICA: The maiden edition was attended by government officials, policy makers, captains of industries, Fintech companies and start-ups. It was a market place for business exchange and policy decision on the opportunities and challenges of digital financial platforms in Africa and how it can enhance intra-continental trade within the context of the AfCFTA (Africa Continental Free Trade Area). 

About 38 Tech leaders, Captains of Industries, Business leaders and organizations were honoured at the maiden edition of FIN Cashless Awards which held at the Plush Movempick Ambassador Hotel in Accra, in 2021.  

The awardees comprised of 21 personalities and 19 organizations from across Africa including: Dr. Mahamudu Bawumia Vice President of Ghana, Mrs. Ursula Owusu-Ekuful Minister Communications and Digitalization Ghana; Ken Ofori-Atta Finance Minister Ghana; Maxwell Techie Mobile Zone CEO; Alex Bram Hubtel CEO; Richard Hlomador K-NET CEO; Patricia Obo-Nai Vodafone Ghana CEO; Selorm Adadevoh MTN Ghana CEO; Dowuona TechGH24 Editor among others. 

The second edition promises to be a celebration of successes recorded in the cashless world with a view of strengthening infrastructure deficit, Cyber security, intercontinental trade facilitation, increasing financial inclusion and promoting indigenous Fintech solutions. 

 Yours faithfully,         

Dr. Alex Itkin 

President, Foreign Investment Network (FIN).                                                     


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