Fintech Magazine Africa Hosts App Summit 2024: Empowering Digital Transformation in Nigeria
Fintech Magazine Africa successfully hosted its highly anticipated App Summit 2024, centered on the theme “Empowering Digital Transformation: Innovations, Opportunities, and Challenges.” The event brought together leading industry players, tech enthusiasts, and policymakers to discuss strategies for building a sustainable and thriving app ecosystem in Nigeria.
The summit’s keynote speech was delivered by Segun Adeniyi, Chief Digital Officer at Wema Bank, who spoke on the topic, “Building a Sustainable App Ecosystem in Nigeria.” In his address, Adeniyi highlighted the transformative journey of Wema Bank’s ALAT, Nigeria’s first fully digital bank, launched in 2016.
“By delivering the first fully digital bank in Nigeria, Wema Bank sparked a Cambrian explosion of FinTechs, setting the stage for rapid innovation in the banking sector,” Adeniyi noted. He emphasized the significant role Nigerian developers have played in creating solutions that are now celebrated globally, citing unicorns like Flutterwave and Paystack as prime examples.
While celebrating the growth of Nigeria’s app ecosystem, Adeniyi also pointed to critical challenges hindering its sustainability, including gaps in education, infrastructure, and funding. He stressed the need for investments in incubators, accelerators, and talent development to address these issues effectively.
Expert Insights and Panel Discussions
The summit featured several thought-provoking speeches and panel discussions. Fredrick Adams, Product Consultant and Co-founder of Bankly, delivered an engaging presentation on “Monetization Strategies for Apps,” exploring freemium models, subscription services, and other revenue-generation techniques.
Yomi Ogunleye, CTO at Hervest, spoke extensively on how mobile apps can drive economic development, highlighting the importance of leveraging technology to address societal challenges.
A series of fireside panel sessions tackled diverse topics, which include:
- “The Future of Mobile Applications: Unveiling Emerging Trends and Technologies”
- “User Experience (UX) Design in the Mobile Era: Crafting Engaging and Intuitive Interfaces”
- “The Intersection of Apps and FinTech: Revolutionizing Financial Inclusion”
- “Fostering Innovation in the Nigerian App Ecosystem”
Among the lineup of speakers was Wumi Ariyo, a seasoned project manager with expertise in product safety certification testing and software development, who spoke on “Privacy, Security, and Data Governance in App Development,” emphasizing the need for robust frameworks to protect user data.
The summit underscored Nigeria’s potential to build a robust app ecosystem capable of solving societal challenges in sectors like education and healthcare. With over 103 million internet users and 36.75 million active social media users in 2024, Nigeria’s app landscape offers immense opportunities for growth and innovation.
The event concluded on a high note, marking an important step toward overcoming Nigeria’s app ecosystem challenges and fostering innovative solutions. Fintech Magazine Africa’s App Summit 2024 not only inspired new ideas but also positioned itself as a catalyst for driving digital transformation in the country.
