‘How blockchain can improve business transaction’

August 12, 2018 Haruna Magaji HEADLINES

‘How blockchain can improve business transaction’ – The Cofounder, Cheetah Africa, Lucky Uwakwe has called on African leaders to harness the opportunities in the Fintech and Blockchain technology to help improve business opportunities and transparency in governance.

Uwakwe made this known in an interview with The Nation at the launch of Cheetah Africa Fintech and Blockchain conference held in Lagos recently.

The event brought together financial experts in the financial sector, ICT, software producers, management experts, and entrepreneurs across Africa. The event featured pitches by startups to get opportunities for partnership, collaboration and funding support.

He said that the need for Africa leaders to embrace the opportunities in the blockchain industry is key as it will help to tightly keep record of transactions in both the public and private sectors and strengthened the fight against fraud and corruption across the region.

He noted that the Managing Director of the International Monetary Fund, Christine Lagarde recently appealed to leaders across the continent to harness the economic opportunities in the blockchain industry as Blockchain technologies can create an economy that is not only about goods and services but that is also more open, inclusive, fair, and secure across Africa.

Although he noted that there is few risk involve in the Blockchain industry but over the years, the risk has reduce as more players in the industry continue to understand the volatility in the sector.

He said the world is convinced that Africa is the new market; the scramble for this Virgin land has started. We will no longer wait for the right time as the time is now. Every venture capital firm in the word should know that if they don’t invest in Africa now, they will pay the price of neglect later.

“Cheetah is the fastest platform to meet Africa business by Africans. By building the most innovative product focused in fintech and blockchain startups,” he said.

Earlier in his welcome address at the event, the Executive Director of Cheetah Africa, Nathaniel Luz reinstated the commitment of the firm toward providing a workable and pragmatic support based for African startups through blockchain technology.

He said that 60% of Africans are youths who have immerse innovative ideas that can make Africa great among the continent of the world but they lack well structure support base that will make their dreams fly.

Luz said we are losing our best youths in Africa because there are very few support systems to help young people make their dreams come alive.

He stressed that our vision at cheetah Africa is to be the pool of African startups and innovations, providing them with the necessary support structures needed for global relevance, scalability and competitiveness.

“We provide a platform for venture capitalists and investors to access the best of Africa ideas and products,” he said.

About Haruna Magaji 2484 Articles

Haruna Magaji is a journalist, foreign policy expert and closet musician. He is a graduate of ABU Zaria and a member of the Nigerian union of journalists. JSA, as he is fondly called, resides in Suleja, Abuja. email him at - harunamagaji@financialwatchngr.com