• Wednesday, May 22, 2024
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FSI reiterates commitment to drive inclusive financial solutions for MSMEs

FSI reiterates commitment to drive inclusive financial solutions for MSMEs

Financial Services Innovators (FSI), a Nigerian non-profit organisation committed to enabling start-ups within the technology and financial space, has reaffirmed its commitment to creating inclusive financial solutions in suburban Nigeria with the announcement of the final round of the ‘IncludeMe’ virtual hackathon competition.

The virtual hackathon, which started on March 11 with a webinar entitled, MSME Challenges in Northern Nigeria, facilitated by Folorunsho Lukman, SMEDAN State manager, Minna, Niger State, is aimed at engendering inclusive financial solutions for Micro, Small and Medium Enterprises (MSMEs), focusing on the banking and insurance sectors in northern Nigeria.

Speaking at the hackathon, Executive Director, FSI, Aituaz Kola-Oladejo, said: “We are excited to see this virtual hackathon moving ahead to a logical stage since we started. It has proven to be a unique platform for engaging the brain and minds of our various university students left redundant by the lingering ASUU nationwide industrial action. At FSI, we know that great ideas come from great minds; when tech-enthusiasts come together with a determination to ignite change with their diverse backgrounds and skill levels, the result is better excitingly impressive.”

She added that the hackathon is team-based with a minimum of two participants and a maximum of five participants.

“The teams will develop technological applications to solve real-life problems in suburban communities. This particular challenge aims to identify tech talents in Nigerian tertiary institutions. A total number of 77 teams registered for the hackathon with a total number of 209 persons. This concluding round, which began on April 1st with a capacity building programme on Building Minimum Viable Products (MVPs) by Osasenaga Enogieru, grants portfolio manager of Pledge Inc.,15 teams with 43 members are expected to pitch their innovative ideas to a panel of judges on April 12, 2022 virtually. The winner of the challenge will go home with N1.5 million, 1st runner-up, N1 million, 2nd runner-up, N750,000 whilst the 4th to 10th place will get a consolation prize of N100,000 each,”Kola-Oladejo explained.

Read also: Decentralised finance as key driver of financial ecosystem in Africa

FSI is working closely with Flutterwave, Capricorn Digital Limited, Committee of e-Banking Industry Heads and Nigerian Inter-Bank Settlement System Plc, as well as other development partners to empower young Nigerian university innovators towards creating a highly successful ‘IncludeMe’ virtual hackathon competition designed to create a sustainable digital economy that enables financial inclusion to flourish in the suburban.

FSI is a shared infrastructure for the financial services ecosystem with the primary goal to enable financial innovation, as well as to discover and nurture talents, from tertiary institutions toward building a robust digital economy.