The unserved segments of Africa’s mobile money markets, which include people in rural or remote areas and underdeveloped parts of the continent, may arguably be the biggest winners of this year’s Digital PyExpo.
The Digital PayExpo is an event designed as an inclusive series addressing different segments of digital financial services with a focus on how such services can leverage on technology to bring access to bottom of the pyramid markets.
Over the years, the Expo has been renowned for facilitating meaningful business connections within Africa’s payment industry.
The three-day Conference and Exhibition is centered on the theme “Innovative Financial Services for the vast unserved Segments”.
It will feature the likes of Eyo Bassey, CEO of PayPorte, one of the top leading eCommerce companies in Nigeria, who started his first business venture, an IT company at the age of 21 and has since become a formidable force in the African IT and Enterprise Business Solutions space.
The event comes at a time when mobile money is maintaining its growth trajectory in many parts of Africa. Service providers such as Branch, Tala and of course, PayPorte, have found a strong market in various parts of the continent.
In East Africa, some of these providers and others like them allow their users to access loans through their mobile phones. Others provide banking services to an otherwise unbanked population.
Many large lenders like banks and others like microfinance institutions are now seeing the benefits of mobile money, which at its core, fosters financial inclusion.
According to telecommunications firm, GSMA, more than half of the world’s 282 mobile money services operators are located in Sub-Saharan Africa. A recent report from the research company has discovered that in Africa today, there are 100 million active mobile money accounts.
The Digital PayExpo hopes to highlight these issues while offering investors a chance to cash in on the trend, which has so far been somewhat unstoppable.
This year’s edition of the event will be graced by innovators, industry disruptors and business leaders from across Africa and the globe.