The State of Fintech in Africa: The Role of Education and the 10×1000 Tech for Inclusions Initiative.
The African continent is witnessing an unprecedented surge in fintech innovation. This growth is driven by a combination of factors, including increased internet penetration, a young and tech-savvy population, and a pressing need for financial inclusion solutions. However, the sustainability of this burgeoning industry hinges on one crucial element: education.
Education, particularly in the field of technology and finance, plays a pivotal role in fostering a sustainable fintech ecosystem. It equips individuals with the necessary skills to navigate, innovate, and lead in the fintech space. Knowledge, in this context, is not just about understanding the latest technologies but also about grasping the intricacies of the financial sector, regulatory frameworks, and the unique challenges and opportunities present in the African market.
Introducing 10×1000 Tech for Inclusion
Recognizing the importance of education in building a robust fintech industry, the International Finance Corporation (IFC) and Ant Group launched the 10×1000 Tech for Inclusion program in 2018. This philanthropic initiative aims to nurture and inspire 1,000 emerging talents and tech leaders each year for the next ten years.
10×1000 is an open and global fintech learning platform that enables learners to become drivers of digital economic growth. The program offers a crash course in fintech foundations for practitioners, covering topics such as the technology that makes fintech possible, best practices in product thinking, how to scale your business, and the relationship between digitalization and inclusion.
The Fintech Foundation Program Flex is exclusive to professionals with at least 3 years of working experience, referred by 10×1000 alumni or its global partner network. In Africa, AfriLabs serves as a partner for the 10×1000 initiative. We are therefore calling upon Africans to enroll on the platform and access this free information. The program is completely free and fully online, making it accessible to individuals across the continent. Enroll now on the platform using the case-sensitive code “aflt4i”. Acceptance into the program is solely at the discretion of the 10×1000 team.
The 10×1000 Tech for Inclusion program represents a significant stride towards building a sustainable fintech industry in Africa. By emphasizing education and offering accessible learning opportunities, the initiative is empowering individuals to contribute to the digital economic growth of the continent. As more Africans enroll and benefit from this program, the future of fintech in Africa looks promising.