A French Fintech firm, Finance Innovation is ready to setup a Fintech hub in Rwanda in order to boost start-ups in the sector. The New Times reports.
The Chief Executive Officer of Finance Innovation, Joelle Durieux disclosed that they have already entered a partnership with the Government to set up the hub.
“The project of creating a finance technology hub in Rwanda has been approved. We entered a partnership with kLab as one of the partners. The hub will enable the creation of new business and identify the latest innovation trends for the financial sector,” Joelle said.
The partnership, signed on the sidelines of the Transform African Summit between the firm and kLab, the local hub in Kigali promoting innovations from startups, will see the two parties collaborate in areas of mutual interest, particularly on initiatives related to fintech industry.
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Aphrodice Mutangana, the General Manager of kLab, confirmed that they entered a partnership with the firm. He also said that the new hub would enable creation and development of new jobs as well as see the growth of emerging professions such as data scientists, technology developers, and advisors in finance.
This will be the first hub dedicated to promoting start-ups engaged entirely in financial technology services. Fintech is one of the emerging technologies. Analysts say that there is a wave of transformation driven by technological innovation in financial services.
Innovative solutions provided by fintech businesses like mobile banking and electronic payments are increasing, enabling more underserved and unserved populations to be financially included.
According to Durieux, the hub will specifically promote the financing of small and medium-sized enterprises and innovation, and strengthen research and financial innovation. The hub will feature a co-working space for fintech businesses and acceleration programmes that support technology entrepreneurs in finance, among other things.
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