On Tuesday, 26th September 2023, a significant digital finance event unfolded that promised to reshape the financial landscape of Zambia, Kenya, and Nigeria. Hosted in collaboration with The Alliance of Digital Finance Associations, Digital Frontiers and AfricaNenda, this webinar was a forum that beckoned participants to engage, learn, and contribute to the transformation of the digital finance sector in Africa. Sarah Corley, CEO of Alliance DFA was joined by Rhys Sengani Phiri (Association of Digital Finance Practitioners of Zambia), Jacqueline Jumah (AfricaNenda), Abubakar Shehu (Lagos Association of Digital Finance Practitioners Nigeria) and Abigail Komu (Digital Financial Practitioners Association of Kenya) to unpack the AfricaNenda’s SIIPS research in Zambia, Kenya and Nigeria.
Unlocking the Future of Digital Payments
During the webinar attendees had the unique opportunity to delve into the insights and findings emerging from the SIIPS 2022 research. The objective of this research was to draw insights to inform how IPS can be designed to better meet the needs of consumers in Kenya, DRC, Egypt, Ghana, Nigeria, Tanzania and Zambia; and for the purpose of the webinar we focused on Zambia, Kenya and Nigeria. We looked at the key consumer behaviour trends, users of digital payments and which payment methods are used and for which purposes, are well as the barriers to the usage of digital payments across these countries. Findings unveiled that, in one instance, drivers of the user journey experience were convenience, mobility and relative affordability compared to cash alternatives while barriers were that cross-provider payments do not confirm beneficiary details and there are often network connectivity issues, which can interrupt a transaction.
These findings revealed new possibilities to revolutionise digital finance across these African markets. What made this event interesting was its exploration of the commonalities that tie together Zambia, Kenya and Nigeria.
If you couldn’t attend the live webinar on 26th September, the recording is now available for your viewing pleasure. You can still access the captivating discussions, innovative ideas, and expert insights that were shared during this event. To watch the recording, click here and dive into a wealth of knowledge that could shape the future of financial transactions not only in Africa but also beyond its borders.