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Home Business & Finance

SEC Advocates for Smart Regulation to Drive Fintech Growth in Africa

Nnaemeka OkwarabyNnaemeka Okwara
October 9, 2024
in Business & Finance
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SEC Advocates for Smart Regulation to Drive Fintech Growth in Africa
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The Director General of the Nigeria Securities and Exchange Commission (SEC), Emomotimi Agama, has stressed the importance of “smart regulation” to manage the fast growth of fintech while protecting investors and maintaining market integrity in Africa.

During his speech at the Nigeria Fintech Week 2024, Agama pointed out the potential of fintech to change Africa’s financial system, but also warned about major regulatory challenges.

“Misusing investment data, being vulnerable to cyber-attacks, and dealing with unregulated fintech companies are serious risks for investors,” Agama stated.

To tackle these issues, the SEC has launched a Regulatory Innovation Program, which allows fintech firms to test their business ideas in a controlled setting.

“Nigeria is in a good position to support global fintech innovation by creating a supportive environment and consistent regulatory rules,” Agama mentioned.

Ade Bajomo, the President of FintechNGR, also highlighted that the fintech industry still has many opportunities.

Tags: africafederal characterFintechNewsSECSEC Advocates for Smart Regulation to Drive Fintech Growth in Africa
Nnaemeka Okwara

Nnaemeka Okwara

Okwara Nnaemeka Emmanuel is a skilled wordsmith, passionate blogger, and content writer with a degree in Media Content, He has made a significant mark in the industry. He also holds certification in Marketing and advertising. He has honed a unique blend of creativity and strategic thinking.Driven by a belief in the power of creativity, He has established a niche for himself in diverse regions, leaving a trail of successful projects and satisfied clients. His ability to craft compelling narratives and engage audiences sets him apart in the competitive world of content creation.As a dedicated professional, He continues to push boundaries and set new landmarks in their field. Whether it's through captivating blog posts, persuasive copywriting, or innovative content strategies, Nnaemeka’s consistently delivers excellence, leaving a long lasting impact

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