We are standing on the threshold of victory and for this to happen we have to invest thoroughly.
The word investment, especially in the context of financial simply means investing in the skills, sourcing larger and domestic capitals to invest in growth and scaling. We must have a robust policy to avoid killing the growth of fintech.
About $5 Billion is expected to generate from the fintech industry before 2020.
However, there must be collaborators amongst agencies to ensure regulations is in line with the needs of the nation.
Anybody in this room that thinks fintech is zero game has missed the point.
"The future of FinTech lies with collaborations on the partnership between various stakeholders." Dr. Omobola Johnson, (former Minister of Science and Technology, and Lead Partner at TLcom Capital Nigeria)Investing in Capital (What do we look for)
1. An idea.
2. We expect that we get ten times of what we invest in.
Things to consider before investing in any industry
1. The attractiveness of the Industry.
When you have competitors, you simply have space to grow.
2. Attractiveness of the company
We look at the founders and the co-founders. How do they come together? We research their background, are they a role model anyone would like to identify within the society.
3. Do the owners share the value of their company.
4. Competence of their tech team.
5. Unique business model of the company.
6. Current and future of the company.
7. Can they scale in the economy?
Over the next years, we need to:
1. Improve our policy regulations.
2. Encourage more skills and competencies for this industry to thrive.
3. We need entrepreneurs
4. We need to be able to tell good stories that we enable fintech to be worthy of investing into.
"Investing in tomorrow is critical of our fintech industry in this nation. We have to include tons of Nigerians that are not included in the financial sector." - Dr. Omobola Johnson, (former Minister of Science and Technology, and Lead Partner at TLcom Capital Nigeria)
The Africa FinTech Foundry (AFF) is a Pan-African accelerator aimed at inspiring, mentoring and investing funding into growth stage technology start-ups operating primarily in the FinTech space.
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