Zeepay, a fast-growing fintech company in Ghana hosted the second edition of Disrupt 270 Conference on the theme ‘Leveraging Remittances for Digital Inclusion and Impact’ to commemorate the International Day of Family Remittances.
The one-day event which took place on June 16, 2022 was a thought-leadership conference that provided insights on the evolution of remittances post-pandemic and how various policies are influencing the industry to impact diasporans and remittance receivers.
H. E Harriet Thompson, British High Commissioner, Ghana, in her keynote address mentioned that Zeepay in 2021 processed almost $900 million remittances in Ghana, a staggering amount and a critical contribution to Ghana’s economy in a difficult period of the COVID-19 pandemic.
“Digital is a priority sector between the UK-Ghana economy partnerships. We are excited about how digital approach and remittances has improved the lives of people living in both the UK and Ghana,” she added.
Andrew Takyi-Appiah, managing director at Zeepay, mentioned that Africans in the diaspora have been given a lot of opportunities that come with financial rewards after the pandemic and these individuals still have families here in Africa and will send monies to them.
“We are very optimistic that remittances will increase to not less than 16 percent of the $4.5 billion that was spent last year which represented 6.3 percent of Ghana’s GDP,” Takyi-Appiah said.
He added that that is why at Zeepay we continue to focus on digital rails to connect various digital assets which will in turn help to reduce fees and other transaction costs like travel time, making the process more convenient and safer while promoting digital and financial inclusion,” he stated.
Takyi-Appiah further revealed that 20 percent of Ghana’s remittances was processed by Zeepay whilst affirming that it is important to celebrate the current strides made in remittance within the fintech sector in Africa, bridge the next frontier and the future of remittances and digital transfers across the continent and globe including the role intra-African migration will play.
Read also: Are CBN regulations holding back the growth of FinTech in Nigeria?
“The significance of this conference cannot be overstated because remittances lift people out of poverty, pay for education, cover health expenses, and allow housing investments and many other family goals beyond consumption.
A new product, Zee Microfinance was also officially launched at the conference to enable Zeepay subscribers to receive insurance cover from partnered insurance companies to help cushion their lifestyle and future possible occurrences.
The four panel sessions featured thought leaders who shared industry knowledge on the evolution and projected growth of remittances, the significant need for remittance-linked insurance and the impact of e-levy on remittance and distribution.
Five startups in the fintech ecosystem were nominated to pitch, with three emerging winners selected to receive funding and mentorship from Zeepay and Moneygram. The winners were OSUAccra, Tudu Technologies and Paybox.
