Tayo Oviosu, the Chief Executive Officer, Paga Group , has said that Fintechs in the country could explore the massive opportunities available in the pan African banking group; Ecobank, to grow and expand their business locally and across the continent.
Oviosu who was speaking on the topic “Pan-African expansion opportunities and challenges” at the hybrid maiden Ecobank Fintech Breakfast Series : ‘Partnering for a stronger ecosystem’ submitted that Fintechs could leverage Ecobank’s footprint, infrastructure and network across Africa including the in-depth knowledge of regulatory policies and legal requirements in respective countries to achieve their growth and expansion goal.
According to Paga Group CEO, “Banks should not be afraid to do business with Fintechs. Partnership and collaboration are welcome. That is the practice all over the world. Technology is evolving. Ecobank’s pan African presence is ideal for such partnership. Fintechs can leverage on the bank’s footprints across geographies, market knowledge and experience in the legal entities and launch out. They must find a partner that has strength in what they are looking for like the Ecobank pan African switch, finance, technology and leverage it.”
He further advised Fintechs considering expansion to other countries to “do their due diligence, understand the cultural nuances of the environment and how friendly the country is to foreign businesses. Take note of your type of business, the available opportunities, challenges, and the scale you are building. It is fine to assemble a local team that will help you understand the environment better.”
In his comment on “How bank-Fintech collaborations can drive ecosystem growth”, Isaac Kamuta, the Group Head, Payments, Cash Management and Client Access, Ecobank Group, reconfirmed Ecobank’s commitment to supporting African Fintechs to grow.
“As a bank, we are committed to supporting anybody out there that has a dream to succeed and that was why Ecobank was started. It was established to help Africans and deliver banking services to Africans on the continent. So, we have a mission in ensuring that any African that has a dream, can get that dream fulfilled. We want everybody to succeed, we want more and more unicorns to come out of Africa- generate employment and make financial services available to everybody, irrespective of their location or economic class. It is not enough to just have a solution; it is more about the execution. With the experience we have in this sector, we are always able to provide advisory service and help would-be […]