On 9 May 2019, Puttru was in focus at the session on ‘Fintech Innovation Opportunities’, which brought together founders and/or CEOs of innovative fintech companies in Africa as well as those investors that specialize in this sector. This happened during the AFSIC – Investing in Africa conference, held at Park Plaza, Westminster, London, from 8th – 10th May 2019.
The session on ‘Fintech Innovation Opportunities’ provided a platform where the men and woman behind the five (5) selected companies from Africa could present to an audience of investors their idea for a technology-driven economic transformation in African, and just how their businesses were leading this transformation.
The five companies in question include: MyBucks (South Africa), Alternative Circle (Kenya), ImpalaPay Limited (Kenya), SA Taxi Finance (South Africa) and Puttru (originating from Nigeria, but catering for an Africa-wide market).
Listening to the speakers, governments and investors, one thing was clear: there is still a gap that technology can address, specifically as it concerns the mismatch between investors and the investment opportunities they are looking for, and vice versa. Based on this reality, we won’t be sounding too ambitious if we were to say: Africa needs are is waiting for Puttru.
“We are more than a Capital Market Fintech Solution”
Like many of the investors and business leaders that attended the AFSIC event, we went to London to assess the latest innovations coming from the African continent. As a startup, we used that opportunity to re-examine and revalidate the gap we aim to fill in Africa’s energy sector and the unique role we aim to play as the leading one-stop capital raising solution for the continent’s energy market. Furthermore, our purpose of speaking at AFSIC 2019 was to share with members of the global fintech community what to expect from the launch of our electronic platform. Our message, in one sentence, is that ‘we are more than a capital raising platform’.
Curious on what that means? Watch the video.
Our takeaways from AFSIC
- “AFSIC is where investors meet investment opportunities in Africa”. That’s true. There were a lot of investors at AFSIC many of who were keen on continuing the conversation after the meeting in London. Many of them were African investors, i.e. headquartered in African countries.
- Africa is truly becoming a hotbed of innovation. Although it might not seem like that, based on the amount of visibility that is given to innovations from Africa compared to those from tech-hubs like Silicon Valley, African countries are not being left out in the technology revolution that is sweeping across the globe.
- There are more solutions than you know of. While still recognizing the gaps that exists, many of the speakers talked about solutions, either planned or ongoing initiatives to accelerate investment in Africa. It was enlightening to hear just how much the private sector in Africa is contributing to easing up the process of doing business on the continent.
- African governments mean business about facilitating business in Africa. Over 30 African countries had special sessions to enable exchanges between themselves and investors. The country-focused sessions provided government representatives the opportunity to share with African and international investors how these countries were opening up their borders for business.
- The final and most important point, Puttru does have a unique and essential place in Africa’s fintech industry, especially as a capital market fintech solution focused on the energy sector in Africa. Listening to the speakers, governments and investors, one thing was clear: there is still a gap that technology can address, specifically as it concerns the mismatch between investors and the investment opportunities they are looking for, and vice versa. Based on this reality, we won’t be sounding too ambitious if we were to say: Africa needs are is waiting for Puttru.
With these key lessons, we believe the objectives of attending AFSIC 2019 were fully met. And we are already looking forward to AFSIC 2020.
More about AFSIC
Running now for 8 straight years, AFSIC – Investing in Africa “is believed to be the largest Africa investment event taking place annually outside Africa and has become one of the most important conduits of investment into Africa”. Annually, the event brings to the world’s financial capital, i.e. London, over 1500 delegates, including global investors and business leaders from over 40 African countries.
Investors at AFSIC include: listed and private equity funds, infrastructure funds, private banks, sovereign wealth funds, development finance institutions (DFIs), international financial institutions (IFIs), impact investors, microfinance investors, fund of fund investors and others. Many of them looking at investing between US$0.5m to US$50m+.
Puttru does have a unique and essential place in Africa’s fintech industry, especially as a capital market fintech solution focused on the energy sector in Africa.