President Uhuru Kenyatta on Monday officially opened the much-awaited Fintech festival hosted by Central Bank of Kenya (CBK) and The Monetary Authority of Singapore (MAS).

The 2-day conference, whose theme is “Fintech in Savannah”, is the 1st of its kind globally, and is modelled along the Singapore Fintech Festival. The festival has drawn over 1,500 participants from 45 countries.

President Uhuru Kenyatta in his speech on Africa – Asia Collaboration in Fintech said technology has enabled Kenya to register impressive successes in financial inclusion and in the delivery of public services, saying that access to financial services in Kenya has more than tripled from 26% in 2006 to 82% in 2019.

CBK SIGNS MOU WITH SINGAPORE ON DATA IDENTITY

CBK signed an MOU with Singapore’s Central Bank to co-develop foundational infrastructure on identity, data and electronic Know-Your-Customer procedures which are essential tools in ensuring financial integrity at national and cross-border levels.

Dr. Patrick Njoroge, the CBK Governor, said, “Leapfrogging technology in the region is transforming millions of lives and is bringing the world closer together to enable seamless business transactions.”