GRBusiness
Lagos hosts FinTech Week to celebrate Fintech achievements
To celebrate Fintech achievements and opportunities with focus on funds and payments, capital markets, insurance innovations, block chain and cyber security, the world’s attention will be on the city of Lagos as it hosts the Lagos Fintech Week in October.
In a statement signed by the Chairman of Organizing Committee, Dr. Yele Okeremi said “Each day we will focus on a different topic. We shall ensure that there is plenty of time for networking and meeting other innovators”.
He added that there will be ‘Investor Summit’ that aims to enhance access to “funding for startups and improve the quality and quantity of Fintech investment deals in Nigeria”.
Lagos Fintech Week is a series of conferences, exhibitions, workshops, hackathons, meetups and awards. It would attract Fintech start-ups, technology companies, investors, financial institutions, research institutes and innovation professionals to engage the ecosystem in a stimulating discussions, demos and insightful debates.
Since Lagos is now innovations hub where diverse financial technology solutions and opportunities are being created daily, he informed, it is imperative that the city host Lagos Fintech Week, which has as its theme, Fintech: Exploring the Huge Opportunities.
The event would hold from October 2 to 5, 2018 at Oriental Hotel, Lagos.
Citing reason for the hosting of the event in Lagos, Okeremi said Lagos boast a huge network of customers with an abundance of local and international talents in finance and entrepreneurship.
“Lagos has the ideal ecosystem for Fintech enterprises to succeed. Lagos has seen a vast increase in number of incubator and accelerator programmes over the past 6 years. Lagos offers many advantages for Fintech business. This regional financial hub features a dynamic business culture, a growing technological infrastructure, a huge network of customers, regulatory support and a world-class talent pool.
“Alongside this, an increasing number of Fintech events have turned the industry into a bustling community, opening the door to greater expertise and increased support for enterprises, and providing countless opportunities for innovators to showcase ideas, meet industry experts, and access training and funding opportunities.
Okeremi added that different impactful activities that will showcase diverse opportunities for all participants at different categories are lined up at the summit.
These are opportunities the startups community to participate in the Hackceleration, learn from industry leaders and experts at the conferences, submit implemented solutions for the
Fintech awards and network with the Fintech ecosystem.
Other opportunities include a window for investors and financial institutions to source for deals at the Investor Summit, Demo & Deal Day, listen to pitches at the Hackceleration demo day, share knowledge with fellow industry leaders and experts in the conferences, and listen to financial regulators at the conferences.
According to Dr. Okeremi, “the Lagos Fintech Hackceleration seeks the most innovative start-ups that can address problem statements contribute by the local and global Fintech community and the financial services industry.
“We are inviting start-ups to apply to the programme and demonstrate how they can innovate to address these problem statements. There will be five teams and we will match them with industry champions to customize their market-ready solutions into contextualized prototypes ready for adoption”.
The Chairman also mentioned that there will be workshop that will be organized by partners to gain insights and learn from industry experts that will hold in various venues across the city.
“There will be Open Banking Master class that will enable third party developers to build applications and services around financial institutions, as well as endows customers with greater financial empowerment and transparency. Underpinning open banking is open standards and technology to achieve these outcomes,” he said.
Explaining what the participants would benefits at the Master Class for Open Banking at the Lagos Fintech Week, which is a collaboration between Fintech 1000+ and Open Technology Foundation, Adedeji Olowe said through the Master class, “participants will get an in-depth understanding on open banking system, architecture and design, as well as firsthand experience that demonstrates the collaboration between Fintech to deliver real world applications swiftly to delight customers”.
Salami Abolore, MD/CEO of Riby Finance, the company that is hosting the Hackceleration at the Lagos Fintech Week, said that high-impact innovations are always the result of “motivated, multidisciplinary teams”, which is why among all applicants “we will carefully choose at most 60 participants for the Hackceleration.
“We are expecting active, knowledgeable and forward-thinking individuals and teams who realize that the only constant in business life are changes and improvements. All innovative individuals and teams from Nigeria can participate at the event, as physical persons. The application is open until all available places are filled”, he said.
Other side attractions at the summit are Nigerian Fintech Awards, Demo and Deal Day. Demo and Deal Day will showcase promising Fintech startups and innovative technologies to local and global investors, with a view towards facilitating Fintech investment deals.
Improved efforts at collaboration among financial service providers, telecommunication operators, and tech Startups, with conscious effort geared at consumer awareness, have been proffered as key remedies to the challenge of financial inclusion in the country.
This is the viewpoint of stakeholders that gathered for the second edition of Payment Forum Nigeria (PAFON 2.0) held recently in Lagos.
Delivering a keynote address on the theme, “Bridging the Customer Experience Gap for Financial Inclusion Using AI”, Ebehijie Momoh (Mrs.), the managing director and chief executive officer of AfriGoPay Financial Services Limited, said that with 64% of Nigerian adults being financial included the country has made immense progress in that regards.
She said that between 2012 till date, the country has recorded robust regulatory reforms, especially the launch of the Bank Verification Number (BVN) in 2014 making it easier to identify and track customers across different banks.
“This initiative enhanced the credibility of the financial sector and increased confidence in formal banking systems.
The growth in adoption of smartphones has also helped the financial sector to leapfrog financial inclusion. Nigeria has 142.16 mobile internet subscriptions with an average consumption of ~7.04GB / month as of January 2025. If you juxtapose it to the 15.9% decline in shipments of feature phones to 18.8 million units in Africa as at Q1 2024, you will understand that the uptake in smartphones has helped us a great deal.
Mrs. Momoh who spoke through Mr. Munachi Duru, the head of Innovation and Strategic Partnership at AfriGoPay, said the adoption of artificial intelligence banking gave birth to solutions like smile identity, a leading KYC verification provider launches facial recognition capabilities in Nigeria as neobanks and commercial banks are deploying AI-based KYC verification tools, enabling cheaper and efficient customer acquisition and servicing.
In her goodwill message, Mrs. Uche Uzoebo, MD/CEO, Shared Agent Network Expansion Facilities Limited (SANEF) Limited said that with progress made in accelerating financial inclusion to unbanked and underbanked communities in Nigeria, SANEF has leveraged Artificial Intelligence (AI) as the next step to advancement in financial services in the country.
She noted that as technology evolves rapidly within the financial ecosystem, Financial Inclusion must continue to be at the center of the nation’s progress.
According to her, agent banking has been a game-changer in expanding financial inclusion across Nigeria. “By deploying agents in underserved areas, we have brought financial services and banking products such as account opening, cash in, cash out, bill payment, transfers and other services closer to the unbanked and underserved.”
Speaking during a panel session, Mr. Ibirogba Oluwagunwa, chairman, Lagos State Chapter of the Association of Mobile Money & Bank Agents in Nigeria (AMMBAN), spoke of lack of collaboration and slow institutional drive towards AI as key barriers hindering digital inclusion.
He harped on the need for information sharing among fintech operators, and improved free flow of information to consumers. “The human barrier angle needs to be addressed. Fintechs need to be pushed to move forward, AI cannot operate itself.”
In his contribution, Mr. Chika Nwosu, managing director of PalmPay, reiterated the need to reach the consumers with simple format communication and education style.
He said operators should create awareness and design consumer-centric approach in developing any products. This will not only draw the consumers towards the product, but also generate trust and ease the use of such products.
Focusing on the use of AI to ensure reach, inclusion and security, Azure Application and AI Specialist at Microsoft UK, Olusoji Solomon Adeyemo, spoke on the need for AI and Blockchain in the bid to extend services to rural communities and the unbanked.
According to him, “AI, Blockchain and CBDs are shaping the future of payment, and there is a serious need for education. We need to align with global trends in new tech adoption.”
While noting that AI can ensure reach, Adeyomo said blockchain will also create digital identity that is exclusive and will promote digital financial inclusion.
In her position, Oluwabunmi Ogunyemi, the customer support lead at Moniepoint MFB, proffered physical and digital meet with customers, even in rural areas, as a viable means of inclusivity.
Also speaking, Olusegun Afolabi, the co-founder of Face Technologies UK Ltd., called for improved collaborations among stakeholders in the financial sector.
According to him, the fintech companies must also embrace effective identification solutions, focusing on biometrics and card technologies to ensure topnotch security for users.
Earlier in his opening remarks, Mr. Peter Oluka, co-Convener of the Forum, noted that the financial inclusion journey in the country has come to a crucial juncture where over 30 million adults are still financially excluded, many of whom reside in rural areas or belong to vulnerable demographics.
He noted that despite 12% growth in access to formal financial services between 2020 and 2023, as recorded by the EFInA Access to Financial Services Survey 2023, challenges still exist that hinders the unlocking of the potentials of digital payments to drive inclusive growth in Nigeria.
He further posited: “As digital infrastructure grows and fintech innovation accelerates, we must channel these advancements toward building a more inclusive, secure, and trusted financial ecosystem. This is not just about transactions — it’s about empowerment, opportunity, and economic participation for all.
Nodding in agreement, Mr. Chike Onwuegbuchi, co-Convener, PAFON, reiterated the need for all stakeholders in the financial payment industry, including regulators, to participate in forums as PAFON, to map out, growth strategies with consumers and other strata of the ecosystem.
He promised to invite security stakeholders, such as the EFCC and others in subsequent editions of the event. This will help give insight into security concerns in deployment of products and services in rural and unbanked communities.
Payments Forum Nigeria (PAFON) is a platform dedicated to shaping the future of digital payments and financial services in our country.
Energy
AVEVA is providing data management support for renewable natural gas projects
Reporter: Godwin Ezeh
Key Highlights
● AVEVA’s industrial information infrastructure has been selected by Archaea Energy to provide key data management support
● AVEVA’s industrial software to optimize performance across Archaea’s RNG plants
AVEVA, a global leader in industrial software driving digital transformation and sustainability, has been selected by Archaea Energy, the largest renewable natural gas (RNG) producer in the US, to build a comprehensive operations data management infrastructure.
Using AVEVA’s software, Archaea Energy can collect, enrich and visualize its real-time operations data, enabling performance analysis across its growing network of plants.
Using AVEVA PI Data Infrastructure, a hybrid solution with cloud data services, the plants will be able to share data to highlight operational opportunities and optimize efficiency.
Caspar Herzberg, CEO, AVEVA, stated,
“Through this collaboration and the use of AVEVA PI Data Infrastructure, Archaea’s growing network of plants will have streamlined operations with accurate performance analysis throughout the expansion. AVEVA’s CONNECT software platform leverages industrial intelligence from a central location, making it easier to deploy additional digital solutions in the future.”
“As the largest RNG producer in the United States, we are dedicated to delivering reliable, clean energy,” said Starlee Sykes, chief executive officer of Archaea Energy. “This relationship will allow us to optimize operations and offer detailed performance analysis as we continue to expand across the country.”
Micro, Small and Medium-sized Enterprises(SMBs) are the backbone of most economies accounting for 90% of businesses, over 70% of employment, and 50% of global GDP, according to the United Nations. They drive growth, innovation, and job creation worldwide.
In Nigeria, they play a crucial role in stimulating local economies and contributing to the country’s GDP.
Recognising their impact, WhatsApp is committed to empowering SMBs with the tools to succeed through the WhatsApp Business App, by reaching their customers where they already are.
WhatsApp continues to be the best way for people and businesses to get business done in Nigeria. With its efficient features, the WhatsApp Business App has become an indispensable tool for small businesses, helping them streamline communication, enhance customer engagement and drive sales. And we know customers love communicating with businesses over WhatsApp too, as nearly 80% of people globally message with a business at least once a week.
Whether you’re just starting out or looking to optimise your business operations, here are five essential WhatsApp Business features that can elevate your efficiency and customer interactions.
1. Catalog – Showcase Your Products and Services
Gone are the days of sending multiple images and descriptions individually to customers. With the Catalog feature, you can create a digital storefront where customers can browse your offerings within WhatsApp. This is just like a mini-website which makes it easier to showcase your products, prices and descriptions in an organised way.
How to Use It: Go to Business Tools > Catalog. Add product images, videos, names, descriptions and pricing.
2. Quick Replies – Save Time on Repetitive Questions
Answering the same customer questions repeatedly? Quick Replies let you create preset responses for frequently asked questions, saving you time and ensuring fast customer service.
How to Use It:Go to Settings > Business Tools > Quick Replies. Create and save responses such as a greeting message or order confirmation. Use the shortcut “/” to insert a quick reply in any chat
3. Labels – Stay Organised and Track Conversations
Managing multiple customer interactions can be overwhelming, but the Labels feature helps by categorising chats in different ways, such as order status or customer type. You can create labels with different colors or names and add the conversations to an entire chat. This keeps your inbox organised and ensures no customer is left waiting.
How to Use It: Open a chat, tap on the three-dot menu > Label Chat. Assign relevant labels like New Customer, Order Placed, Pending Payment.
4. Away Messages – Engage Customers Even When You’re Away
Never miss a customer inquiry again. Away Messages allow you to set up a greeting or away message, ensuring customers receive timely responses even outside business hours.
How to Use It: Go to Business Tools > Away Message / Greeting Message. Set up a custom message and schedule when it should be sent.
5. Meta Verified – For Enhanced Protection and Account Support
A paid subscription that helps your business build credibility with new audiences, Meta Verified can help drive more engagement and grow your brand. With Meta Verified, you’ll receive enhanced account support, can use WhatsApp across multiple devices and easily create a professional WhatsApp web page that’s tailored to you.
How to Use It: Go to Settings or Business Tools > tap Meta Verified.
WhatsApp Business is packed with features designed to help small businesses grow, stay organised, and engage with customers effortlessly. By leveraging these features, you can enhance your customer experience, increase efficiency and ultimately drive more sales. Start your own journey with the WhatsApp Business app here.
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