NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

According to a report by the Baobab Network, technology companies in West Africa had by the end of Q3 2021 secured $1.34 billion USD in investment across more than 105 funding rounds. Financial technology companies, commonly known as fintechs, accounted for 68% of the raised value attracting approximately $866.8 million USD. That represents almost double the previous $711 million USD raised by technology companies in the first 9 months of 2019. Fintechs such as Flutterwave in Nigeria, Dash and Chipper Cash in Ghana, Wave in Senegal, and Julaya in Ivory Coast, all of whom have raised significant investor funding, aim to promote digital, cashless payments across borders.

This conversation will explore the immense potential FinTechs have to promote trade across borders making it easier for merchants to exchange goods and services and accelerate intra-African trade; a key success metric for African organizations such as the AfCFTA.

The session will be moderated by Ambassador Gurjit Singh.

Time: 6:00 AM EST