Fintech in Africa: Unpacking Risk and Regulation

Bowmans | Bowmans

In May 2017, Bowmans hosted a conference in Johannesburg, South Africa, titled Fintech in Africa: Unpacking Risk and Regulation. The conference addressed the following themes: The African Fintech landscape in comparison with those of other jurisdictions; Developments and trends in Fintech regulation; Considering risk and managing fallout; Regulatory developments in relation to crowdfunding; Different jurisdictions’ experiences in relation to payment systems; Where to next for Blockchain? This document is a high-level summary of key points discussed and priorities going forward. The growing impact of digital technology in various sectors of the economy, specifically the financial services sector (as Fintech) is squarely on the agenda for regulators and supervisory bodies across the globe. In February 2017, Fintech was mentioned in the Budget Review published by the South African National Treasury and acknowledged as a relevant factor in the transformation of the financial services sector in South Africa. The fact that regulators and supervisory bodies across the world are creating ‘regulatory sandboxes’ as controlled environments within which innovation can occur is evidence that they acknowledge that Fintech presents both opportunities and challenges. Some of these challenges arise in the areas of risk and regulation.

Financial Infrastructure, Access to Finance, Mobile Banking, Legal & Regulatory Environment
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