According to a recent report by the World Bank, about 90% of retail transactions in sub-Saharan Africa are cash based and just 34% of adults in Africa have traditional bank accounts. 

GSMA’s 2016 annual report also noted that 500 million Africans currently use mobile phones and that the number will rise to 725 million by 2020, while only 84 million persons in 31 African countries have an active mobile money account.  Frost & Sullivan, a consulting firm to the World Bank, disclose that  Mobile money transactions in sub-Saharan Africa could exceed $1.3 billion by 2019 while investment in cashless transactions in the continent is expected to grow by $62 billion per year with a commensurate growth in international remittances to Africa. 

The conference shall create a point of convergence for Payment Systems Executives, Financial Institutions, Fintech Companies, Payment Card Executives, Economic leaders where critical decisions will be taken on strategies for a seamless and secured cashless payment system in Africa. 

The Conference will also look at the Modern Cashless Payment Systems using cash-substitutes as compared to traditional payment systems. These include: Debit cards, Credit cards, Electronic funds transfers, Direct Credits, Direct Debits, Internet Banking, e-Wallet, Mobile Money and e-Commerce Payment Systems.