International Financial Inclusion Conference 2020
In 2019, African markets like Ghana, Tanzania, and Uganda witnessed digital financial services (DFS) growth, making international headlines with mobile money adoption and transaction numbers.
However, the narrative concerning Nigeria is yet to turn for the better.
Currently, in its fourth year, the annual International Financial Inclusion Conference, hosted by the Sustainable and Inclusive Digital Financial Services (SIDFS) initiative of the Lagos Business School, in conjunction with BusinessDay, is a gathering of relevant stakeholders in the financial services ecosystem and is widely recognized as a reference point for constructive debates from academic, practitioner and civil society perspectives. The 2020 edition of the conference will focus on attributes of market-creating innovations that address topical issues in Nigeria; such as:
- Business models and capabilities that target non-consumption. Women, smallholder farmers, and micro and small enterprises remain in the valley of non-consumption and require suitable innovations to redress the gaps.
- A new value network. New distribution models and cost structures that enable affordable service provision to non-consumers are urgently required.
- Access to patient capital to support the evolution and growth of innovative providers and appropriate products to scale across the country is a necessity but it has been largely unavailable or grossly inadequate. How can this deficiency be remedied?
- An emergent strategy. Because non-consumption markets are undefined, providers need emergent, not deliberate, strategies that address market needs. However, providers require wisdom to acquire the relevant market insights as well as how to reformulate their strategies. How can this process be accelerated?
- Executive support. What should be done to ensure better success for pitching innovative products that target non-consumption?
The 2020 International Financial Inclusion Conference will focus on answering these questions and others in a bid to unlock market-creating innovations and possible interventions for rapidly closing the gaps of non-consumption and financial exclusion.