Kora Harps on Africa’s Fintech Growth, Expansion at Inaugural Session

Emma Okonji

Kora, a Pan-African business payments infrastructure, at the weekend in Lagos, hosted its first Sundown Session that brought together Africa’s most innovative fintech players to discuss adaptive growth strategies and blitzscaling for B2B fintechs across the African continent.

At the inaugural session, fintech players raised the concern about challenges in cross-border payments and the need to develop solutions that would address such challenges and how African fintechs could further grow and expand their businesses.

The first panel, titled: ‘Adaptive B2B Strategies for African Fintechs’, explored unique strategies for success in Africa’s competitive B2B fintech landscape. The session featured music executive and Nigerian rapper, Jude MI Abaga, alongside Head of Sales at Transactworld Digital, Oladapo Sadibo; Divisional Head of Payments and Solutions at FCMB, Frank Atat; and CEO and Founder of PayOnus, Oyinye Olisah.

The second panel, with the theme: ‘Unicorns and Blitzscaling in Africa: Product, Processes, and People’, discussed the ambitious scaling strategies essential to growing African fintechs into industry giants, moderated by Arise News host, Oseni Rufai.

The session featured CEO of BudPay Wale Hassan; Co-founder and CEO of Piggyvest, Somto Ifezue; Co-founder and CEO of Zone, Obi Emetarom; and Senior Vice President of Enterprise Sales and Partnerships at Moniepoint, Ifeanyi Duru.

The panelists frowned at the dominance of dollars in trans-border payment, which they described as another form of colonialism, where the Naira has to be changed into dollar for the majority of cross-border payments.

Other issues raised by the panelists, were those of logistics and regulations that are stifling growth of African fintech.

Speaking after the event, Kora’s Founder and CEO, Dickson Nsofor, said: “African fintech is witnessing incredible growth. With Kora Sundown Sessions, we are creating a relaxed and connected experience where attendees can hear directly from the operators driving these changes and leave with ideas to enhance their work.”

According to him, “Each panelist has been at the forefront of building fintech products in Africa and bringing invaluable insights. It is really great to have them share these insights in the connected environment that kora Sundown Sessions provides.”

Following the discussions, attendees engaged in a networking session, building new relationships and sparking fresh ideas that aim to propel Africa’s fintech industry forward.