MIT MBA candidates Khadija Ba and Tolu Ladele are keen on exploring the African Diaspora fintech business. Khadija witnessed how the financial sector in Senegal evolved from a cash-based economy to the adoption of banks, ATMs, and mobile money services. Meanwhile, Tolu started her professional career at one of the largest Pan-African banks, where she developed an interest in investment management and how it influences economic growth. She noticed how Nigeria’s growing fintech industry was accelerating economic growth by providing innovative solutions beyond traditional banks.

To deepen their knowledge of African fintech, Ba and Ladele attended the African Fintech Summit, which they believe can inform people worldwide about the developments in Africa. The summit also provides an opportunity to network and learn from experts in the industry. “It’s good to be surrounded by people who are at the African Fintech Summit, you learn a lot from them, you learn from what they’ve done before and what they are doing now…I think it’s also a good way to meet people to help get you where you want to be,” said Ba.

According to Ba and Ladele, aspiring entrepreneurs should attend industry events and ask questions to understand the market and the problems they want to solve. They emphasized that markets on the African continent may differ in operation, so it is crucial to ask questions as a starting point for innovation.

Exploring industry events such as the African Fintech Summit can unlock opportunities for business growth. By networking with experts and learning about the latest developments in the industry, entrepreneurs can gain insights into the market and create innovative solutions to address specific problems.

Written By: Karesha Graham