FirstBank of Nigeria has reinforced its leadership in Africa’s financial innovation space, sponsoring the 2025 Canada–Africa Fintech Summit (CAFS) and championing cross-border collaboration, regulatory synergy, and inclusive digital banking solutions.
The Canada-Africa Fintech summit, convened by the African Fintech Network under the leadership of Dr. Segun Aina, brought together policymakers, central bank representatives, tech entrepreneurs, venture capitalists, and global financial leaders from both continents. The event focused on building scalable digital finance infrastructure to serve Africa’s growing population and deepen trade relations with Canada.
Speaking on the sponsorship, Olayinka Ijabiyi, Acting Group Head of Marketing and Corporate Communications at FirstBank, said the move aligns with the bank’s vision of creating a future where African and Canadian fintech ecosystems exchange ideas, technology, and capital to drive growth.
“Our support for CAFS 2025 reflects our belief that Africa’s financial future will be shaped by collaboration and innovation. We see this as a platform to connect markets, create wealth, and empower communities,” Ijabiyi said.
In one of the summit’s most anticipated panel discussions, Chuma Ezirim, Group Executive for E-Business & Retail Products at FirstBank, addressed how Application Programming Interfaces (APIs) are helping bridge regulatory differences across African markets.
“The technology is the easy part,” Ezirim explained. “The real challenge lies in securing user data, managing consent, and ensuring performance across jurisdictions. Nigeria’s fintech ecosystem has moved from disruption to convergence—banks, fintechs, and regulators now work together in a more agile and accountable way.”
Ezirim stressed that regulatory clarity is a crucial driver for attracting private capital, building public trust, and accelerating Africa’s shift toward a digitally integrated economy.
In a separate session, Rachel Adeshina, Chief Technology Officer at FirstBank, shared how the bank is using artificial intelligence to tackle “data poverty” and improve access to credit for individuals outside the traditional banking system.
“We are leveraging AI to interpret alternative data—such as mobile payments, utility bill history, and even social patterns—to extend credit to people invisible to conventional credit bureaus,” Adeshina said.
FirstBank disclosed that it has disbursed over ₦1 trillion in digital loans through its AI-powered lending model, maintaining a repayment rate of over 99%—a figure far above the industry average.
Adeshina added that interoperability across Africa’s 54 markets will be the next major breakthrough, enabling seamless payments and lending across borders.
The summit is part of Canada’s Africa Strategy, a long-term policy aimed at increasing bilateral trade, digital investment, and policy cooperation. Canada is currently implementing an open banking framework, which aligns with Africa’s push for open API regulations—a move expected to spark investment and improve consumer choice in both regions.
Industry analysts say FirstBank’s active participation positions it as a gateway for Canadian fintechs seeking African market entry and an exporter of African innovation to global markets.
With Nigeria’s fintech sector projected to surpass $30 billion in value by 2027 (Statista), FirstBank’s alignment with global fintech policies could attract foreign direct investment into Nigeria’s digital finance space. Furthermore, its AI-driven credit system offers a scalable model for inclusive banking, potentially boosting GDP by enabling millions of unbanked Nigerians to participate in formal commerce.
As Africa’s fintech sector continues to evolve from a fragmented ecosystem to a borderless digital marketplace, events like CAFS 2025 demonstrate how strategic partnerships can bridge regulatory, technological, and economic divides. For FirstBank, this is not just about sponsorship—it is about shaping the global future of inclusive finance.