• Thursday, April 18, 2024
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BusinessDay

PiggyVest calls for collaboration on financial inclusion

PiggyVest calls for collaboration on financial inclusion

PiggyVest, a fintech platform in Nigeria, has advocated for collaborative efforts to enhance financial inclusion, literacy, and integrity nationwide.

In addition, PiggyVest revealed the findings of its latest report during a roundtable discussion aimed at addressing financial inclusion challenges and aligning financial services with Nigerians’ needs.

This was made known at a light roundtable event organised by PiggyVest where Nigerian fintech ecosystem leaders discussed the Nigerian financial landscape in Lagos.

Odun Eweniyi, PiggyVest’s COO and Co-founder, emphasised urgency in the need for financial literacy education, calling for collaboration among fintech firms, government, private sector entities, and aid agencies.

“The scale of the work is massive; I don’t know how we’re going to do it, but collaboration is the first point to getting started,” she said. “These conversations continue to be relevant, and I’m looking forward to subsequent editions of the roundtable.”

Also, she stressed the importance of collective efforts in addressing the significant education gap and expressed anticipation for future discussions.

Talking about some core issues addressed at the event, Chidera Ike-Okonkwo, Head of the Innovation Unit at Nigeria Data Protection Commission, said it was been interesting to see a fintech platform like PiggyVest curate an event aimed at issues about Nigerians in debt and some of the reasons they’re in debt.

“I’m hoping that the discussion leads to even better innovation and solution to these issues for Nigerians,” she said.

Meanwhile, Akintunde Oyebode, Ekiti State’s Commissioner of Finance, commended PiggyVest’s initiative, highlighting the scarcity of reliable consumer data in the market. He emphasized the report’s significance for policymakers and companies operating in various sectors.

A key focus of the discussion was the prevalence of debt, particularly through loan apps, revealing that close to half of the Nigerian populace is in debt, and three-quarters of them owe money to loan apps.