KAMPALA – Amidst the on-going disruption of business by COVID-19 and fintech advancements, experts in digital finance and payments will meet to deliberate on apt financial solutions for businesses in Uganda and the rest of Africa.
The fintech gurus from different industries will convene on June 4th, at 10:00 am East African Time, at the first virtual edition of Innovation Series, a thought leadership event by brainchild BCW (Burson Cohn and Wolfe), the exclusive affiliate of BCW, Africa’s largest PR network, in Uganda. Through Innovation Series brainchild BCW aims to promote innovation in business through thought-provoking discussions and a showcase of innovative products and services that can be harnessed by different firms to support their growth and sustainability.
Unveiling the 5th edition of Innovation Series today, Mr. Walter Wafula the Business Unit Head, brainchild BCW said, the first virtual edition will be held under the theme; COVID-19: Appropriate Digital Finance & Payment Solutions for Businesses in Africa.
Speakers at the conference will include; Ms. Beatrice Lugalambi, the General Manager Corporate Communications and Marketing, Centenary Bank, Ms. Catherine Denis, Co-Founder & Chief Operating Officer, Numida Technologies, Mr. Nielsimms Sangho, the Country Manager, Flutterwave Inc -Uganda and Mr. Ricky Rapa Thompson, the Co-founder and Director of Operations – SafeBoda Holdings.
“It’s not every day that we host virtual events, but under the current circumstances, we recognise that it’s important to host the 5th edition of Innovation Series, to stand with the many businesses that are facing very challenging times, by responding to one of their present and future intellectual needs,” Wafula said.
“Our forum on digital finance and payment solutions is timely with the new normal presented by the novel Coronavirus that has hit the global economy. Our next edition presents an opportune platform for fintech thought-leaders to discuss innovative approaches and solutions that SMEs in Africa can harness to recapitalize their businesses but also provide customers new experiences to keep their businesses afloat.”
He added that the uptake of fintech solutions in Uganda and the rest of Africa has spurred financial inclusion and timely service delivery among some businesses. However, the interim and new normal for many businesses call for an urgent shift to digital finance and payment solutions because of the ease of accessibility, convenience, and safety that these options extend to users. Digital financial integration, Wafula added, in most cases leads to operational efficiency and excellence because of the numerous gains it brings in business especially during times like these where human mobility and person-to-person contact are restricted.
Today, Uganda has up to 25 mobile phone users and more mobile money phone subscribers according to the Uganda Communications Commission. The total number of transactions as of September 2019, was 721 billion while the value of transactions registered through mobile money transactions was at UGX. 19.3 trillion. This growth has been boosted by the introduction and proliferation of new digital financial services by banks, telecoms, and payment integrators in the economy.
Innovation Series 5 will, therefore, drive conversations on new and already existing, disruptive and effective payments and credit solutions for businesses and how they can embrace them to enhance trade and service delivery while improving operational efficiency and collections.