As e-commerce continues to surge across Africa, consumers are voicing a strong preference for streamlined and convenient payment solutions.
During the recently concluded Digital and Technology Week 2023, industry leaders convened to explore the evolving digital landscape.
Rita Njuguna, Co-founder of Go Gaga Experiential, highlighted that African consumers are gravitating towards faster, safer, and more accessible payment options.
"Younger generations seek swift and secure payment methods," she affirmed.
Yet, despite the digital advancements, Leon Kiptum, Vice President, of Flutterwave, acknowledged the persistent dominance of cash transactions due to costs associated with mobile money transactions and system interoperability challenges.
According to him, despite digital growth, cash remains prevalent due to transaction costs and interoperability challenges in mobile money systems.
He advocated for a reevaluation of the cost model for sending money, proposing a fee-free approach as a basic necessity.
Other key topics included the ascent of Artificial Intelligence (AI), Cloud Technology, and Cyber Security, underscoring their pivotal roles in Africa's digital transformation.
"Investing in cloud infrastructure is pivotal for Africa's future. Cloud technology can unlock immense potential, paving the way for prosperity," stated Douglas Njenga, Director of Regulatory Affairs and Special Projects for the WIOCC Group
Regarding Data Security, Snehar Shah, CEO of IX Africa, stressed the necessity for proactive measures to safeguard information systems and data.
"In our digital age, cybersecurity is crucial. Our increasing reliance on technology makes our data vulnerable," added Geoffrey Shimanyula, MD of Bawbab Technologies.
The conference also delved into the symbiotic relationship between humanity and AI.
Evelyn Nyaruai from Belva Digital, a Digital Transformation Partner, emphasised AI as an ally rather than a competition.
"AI isn't our competition; it enhances our abilities, enabling us to achieve extraordinary things," Nyaruai said.
The three-day Digital and Technology Week, hosted by Go Gaga Experiential, acted as a pivotal platform for unveiling emerging trends and driving growth in the digital sector.
