New Telegraph 
Remita Payment Services Limited (RPSL) reaffirmed its commitment to sectoral growth and transformation at the seventh edition of the Nigerian Fintech Week (NFW) held recently in Lagos, the company said in a press statement.
The statement said: “The Nigerian Fintech Week has become Africa’s foremost gathering of fintech innovators, industry leaders, and trailblazers. It is recognised for driving significant innovations, fostering strategic collaborations, and catalysing transformative advancements within the fintech ecosystem.
Remita’s sponsorship of this prestigious event underscores its unwavering dedication to the development of financial technologies for the empowerment of people, businesses and nations across the African continent.”
In his remarks at the conference, Remita’s Chief Technology Officer, Mujib Ishola, expressed concern about the current overreliance on black-box AI models, warning of the risks this poses to the continent.
He stated: “We’ve been discussing AI in silos for some time, but the real concern lies in our overconsumption of black-box models. While promising, these models often come with unseen biases, as they are trained on data that may not fully reflect our realities.
“The question is, how can Africa benefit from these technologies if we don’t have the infrastructure to build them ourselves? Without open and honest collaboration, we risk missing out on the transformative potential AI could have for financial inclusion and beyond.”
Also speaking at the event, ‘DeRemi Atanda, Managing Director of Remita, emphasised the need for fintech players to drive tangible economic growth, not just impressive figures.
He said: “The fintech ecosystem has seen a remarkable 243% growth, yet this has not resulted in GDP per capita growth. The data compels us to reflect on our approach and ensure that fintech’s expansion contributes meaningfully to economic outcomes.
Fintech players must ask themselves, what is the reality of our role as catalysts for economic change? It’s no longer enough to generate impressive figures; we must ensure that our innovations drive tangible economic growth.”
‘DeRemi also highlighted the importance of nurturing a robust tech talent pipeline to sustain the industry’s growth and impact, saying: “Tech talent is the lifeblood of the fintech industry. We must continuously nurture and expand this pipeline, ensuring that these talents create value not only locally but globally.
