New Telegraph

Literacy crucial to closing financial exclusion gap–CEO, 9PSB

A Nigeria’s digital payment service bank focused on financial inclusion, 9 Payment Service Bank (9PSB), has reaffirmed the significance of financial literacy as a solution to closing Nigeria’s financial exclusion gap, ensuring that targeted Nigerians become aware and participate in the formal financial system. Speaking during the masterclass session on ‘’Environment, Social, Governance & Risk Management for the Fintech Ecosystem – A Focus on Fintech and Financial Inclusion’’ at the Nigeria Fintech Week 2022 Conference, the Chief Executive Officer and Managing Director of 9 Payment Service Bank (9PSB), Branka Mracajac, reiterated the need to prioritise financial literacy in order for financial inclusion to happen. ‘’We take pride in educating the financially excluded and the unbanked, letting them know why they should be part of the formal financial ecosystem. Financial inclusion is not just about opening a bank account, but it is about individuals and businesses having access to useful, affordable financial services,” Mracajac remarked. She added: “At 9PSB, we are building the bridge between those who are finan-cially excluded and financial institutions, including the deposit money banks, by providing access, collecting data and educating the financially excluded. “Our bank is eager for all Nigerians to access financial solutions. We are open to partnerships with financial service providers and banks and deliberately seeking out and providing opportunities for students and youths to learn.”

Other speakers at the masterclass session include Partner, Banwo & Ighodalo, Ayodele Adeyemi-Faboya; CEO, Branch International, Dayo Ademola; Partner, Udo Udoma & Belo-Osagie, Joseph Eimunjeze; and Financial Sector Lead, Foreign, Commonwealth and Development Office (FCDO), Bola Karimu who made various submissions with regards to the Fintech ecosystem. The Nigeria Fintech Week is the biggest industry event in Africa which births key innovations, strategic partnerships, and ecosystem transformations. It has been revolutionary in galvanizing and building the Fintech industry across Africa, stimulating indigenous creativity to solve Africa’s tech challenges, removing crossborder barriers to Fintech operations and fostering collaboration amongst stakeholders. This year’s conference is themed: “Navigating the Next Normal – Sustainable Impacts in Fintech, EGovernment and Emerging Technologies.”

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