Regtech Africa confab to bridge data trust gap for economic growth
THE Regtech Africa Conference 2024 is primed to illuminate the transformative potential of data governance in Africa's economic landscape.
Scheduled to convene on May 23 and 24, 2024, at the Lagos Oriental Hotel, the flagship event will gather luminaries, policymakers, and industry titans to chart a course toward unlocking Africa's true prosperity.
In an era defined by the rapid proliferation of data collection and analytics, African governments stand poised to leverage these technological advancements to bolster regulatory frameworks and drive economic inclusion.
With Saharan Africa leading the charge in Mobile Money usage, boasting a staggering 218 million active accounts according to GSMA'S State of the Industry Report on Mobile Money 2023, the region stands at the forefront of a digital financial revolution.
CEO of Regtech Media, the organising body behind the conference, Cyril Okoroigwe, said the potential impact of data collection and aggregation in Africa's digital financial ecosystem is profound.
"However, to fully harness the power of data, strides must be made in data protection and sovereignty. The 2024 Regtech Africa Conference serves as a pivotal platform for industry stakeholders to converge, collaborate, and address these pressing challenges."
Central to the conference agenda is the imperative of enhancing the application of data technologies by regulators to cement growth and drive financial inclusion in the region.
Data, as an asset in any financial ecosystem, can empower consumers, policymakers, and financial service providers alike by fostering transparency and informed decision- making.
"By harnessing the power of data, regulators can effectively monitor financial activities, detect irregularities, and safeguard against fraudulent schemes," Okoroigwe emphasised.
"Moreover, data- driven compliance offers a streamlined approach that not only enhances efficiency but also ensures a safer and more secure environment for consumers."