A developing entrepreneurial relationship has surfaced in the past several years as a result of the substantial historical, commercial, and cultural ties between Africa and India.
This has opened up a huge opportunity to capitalize on the innovative capacity of entrepreneurs in both regions to collaborate and solve urgent problems that affect both regions, thereby boosting trade and investment.
This was the theme of the 2nd India – Africa Entrepreneurship & Investment Summit held at the Sarova Panafric Hotel in Nairobi, Kenya.
The Summit brought together entrepreneurs and investors to discuss the opportunities and challenges of investing in both Africa and India with a view to educate, inform and connect with those who may either be interested in investing or creating joint ventures and/or market access arrangements. Global investors in the African entrepreneurial ecosystem were just as keen to invest in India as they were to find new ways to diversify their portfolios in Africa.
Due to its huge economic potential, the fintech sector has seen significant interest from notable investors and players in both Africa and India over the past few years. This is especially true in Africa, where the issue of financial inclusion still persists and much innovation and technology is required to guarantee that more Africans have access to financial services that can drive economic growth.
Cellulant’s Group CEO, Akshay Grover in the panel that discussed “FinTech as an Engine of Economic Growth- A New Development Paradigm” explained that with the current digital transformation, the perks of various digital financial services are great for improving our economic position and future investment in Africa.
Examples of such digital financial servicees include checkout, proximity payments, payouts, payment links, payment pages, remittances, cross-border payments, insurance, digital lending, and saving management — which all together provide an opportunity for greater financial and economic freedom.
While encouraging investment in the fintech space, especially in emerging markets like Africa, he emphasized that fintech is a powerful advocate for financial inclusion and the expansion of both individual businesses and the African economy as a whole.
“Fintech makes people and businesses with previously limited access more financially aware and better at handling their personal finances”
Over the last 18 years, Cellulant has enabled the expansion of businesses from large corporations to small and medium-sized businesses (SMBs) by offering its most trusted payment gateway, Tingg by Cellulant.
