KPMG global FinTech Hackcelerator, MAS look to empower Nigerian start-ups

Committed to helping Nigerian FinTech start-ups raise capital and compete favourably with other FinTech start-ups across the globe, KPMG-sponsored Global FinTech Hackcelerator looks to empower Nigerian start-ups as part of the annual Singapore FinTech Festival scheduled to hold from November 13 to November 17 2017.

KPMG is doing this in collaboration with the Monetary Authority of Singapore (MAS).

The FinTech festival expected to bring over 30,000 people from the global financial community together for a weeklong FinTech expose powered by KPMG Digital Village. The Global 2017 is on the look for exciting and innovative start-ups who can address challenges spanning customer engagement, lending, insurance, asset management, financial inclusion and regtech.

Boye Ademola, Partner and Head, FinTech at KPMG Nigeria, in his opening address said, FinTech across Nigeria have been asked to apply for the ‘Hackcelerator’ programme, and demonstrate how they can innovate to address the highlighted problem statements.

According to Boye, “We have come to realize that there are several FinTech start-ups with brilliant solutions in Nigeria. We have people that create FinTech solutions that solve deep industry issues with global applicability”.

“We are therefore inviting Nigerian FinTech start-ups to take advantage of the Global FinTech Hackcelerator to showcase their solutions and bring Nigeria to the forefront as a leading FinTech hub,” he said.

Mayowa Agboade, Manager, FinTech Practice, KPMG Nigeria, in his remarks said the programme aims to get 1,000 applications from FinTech start-ups across the globe.

According to him, FinTech start-ups in Nigeria have a scalability challenge that has limit their operations. However, FinTech Hackcelerator will help push the growth in FinTech across Nigeria, and in turn contributes to GDP.

Speaking further on the benefits for applicants, Agboade said, “The top 20 teams will be selected for a 12-week accelerator program in Singapore. Each team will receive a stipend of $20,000 and they will be matched with industry champions to customize their prototypes into market-ready solutions for adoption. The top three teams will receive an additional cash prize of $50,000 each,” he concludes.

Intending applicants seeking further information on the programme should visit the FinTech Hackcelerator page on the KPMG Nigeria, while interested individuals or teams are required to submit their applications before the deadline of 15 July 2017.

 

HOPE MOSES-ASHIKE & SEYIJOHN SALAU