INNOVATIONS, INVESTMENT, AND COLLABORATION, ESSENTIAL FOR NIGERIA’S FINTECH GROWTH – BRANKA MRACAJAC, CEO OF 9PSB
Nigeria, October 2024 – At the 2024 Nigeria Fintech Week held in Lagos, Branka Mracajac, CEO of 9 Payment Service Bank (9PSB), Nigeria’s digital payment service bank, focused on financial
inclusion, emphasized the critical importance of innovation, increased investment, regulatory
support, and collaboration among stakeholders in driving the growth of Nigeria’s fintech
ecosystem.
The three-day event themed: Positioning Africa's Fintech Ecosystem to Accelerate Inclusive
growth’, brought together industry leaders to discuss strategies for leveraging generative Artificial
Intelligence and transitioning from revenue-driven to profitability-focused business models.
In a keynote address – Powering Nigeria’s Fintech Ecosystem to Accelerate Growth, the Chief
Executive Officer, and Managing Director, 9 Payment Service Bank, Branka Mracajac, highlighted
that as Nigeria stands at the forefront of the fintech revolution in Africa, the market has
experienced significant advancements. The influx of startups and foreign investments is redefining
how financial services are delivered. Innovations such as digital and mobile wallets are addressing
the financial needs of millions of Nigerians.
However, to sustain this momentum, it is essential to address several challenges. With over 28
million adults lacking access to essential financial services, enhancing digital infrastructure and
improving connectivity are critical. Furthermore, the affordability and accessibility of fintech
products must be prioritized to ensure that all Nigerians can benefit from these advancements.
In her words, “building trust with consumers is paramount. The fintech sector must ensure
reliable data practices and provide educational resources to enhance understanding of available
services. While the Central Bank of Nigeria and other regulatory bodies have taken significant
steps to foster innovation, continued efforts are needed to protect consumers and create a
supportive environment for industry growth. The robust investment capital entering the fintech
sector presents a tremendous opportunity for innovation. Numerous startups are emerging, ready
to address the diverse needs of the population. To fully realize this potential, deeper collaboration
and partnerships across the industry are essential.”
“The future of Nigeria’s fintech landscape is bright, but achieving its full potential requires a
united effort and innovative thinking from all stakeholders. Together, the industry can accelerate
growth and transform the financial services sector in Nigeria”, Mracajac added.
The Nigeria Fintech Week (NFW) is an annual event and a platform that provide opportunities for
players and other stakeholders to come together, engage, share innovative knowledge, and
experience that will drive the industry forward
