This partnership showcases a model for more strategic ecosystem engagement between
central banks, the fintech ecosystem and investors.
StartOA, a fintech accelerator, investment and advisory firm that collaborates with founders
across Africa to deliver and deploy high-impact solutions for individuals and businesses on
the continent through funding and strategic advisory services partners, with EMTECH to explore
new possibilities for fintechs leveraging the EMTECH CBDC Innovation Toolkit and Regulatory
Sandbox to engage regulators.
This collaboration aims to bring modern tools to the fintech ecosystem across Africa in order to promote innovation, resilience and compliance. StartOA’s mission to become Africa’s Fintech Powerhouse and EMTECH’s momentum in modernizing 6 central banks in West Africa align to help deliver the set objectives.
The collaboration brings together innovation, capital, and regulation, which can unlock unprecedented opportunities for long-term economic growth. The EMTECH Digital Regulatory Sandbox helps regulators to be effective partners to the ecosystem, as both parties want to see the digitization of finance. By providing a framework for fintech startups to test their solutions in a controlled environment, the Sandbox can help to accelerate innovation and promote compliance with regulatory requirements.
The McKinsey report on fintech in Africa highlights the fact that cash is still the dominant means of transacting in the continent, with only 10% of all transactions executed digitally. This presents a significant opportunity for fintech innovators to disrupt the status quo and develop world-class solutions that add value to their customers. However, to do so, they need access to advisors, tech resources, funding, and an enabling regulatory environment.
This collaboration taps into the reality that Africa’s fintech market has massive potential. To unlock it, innovators need advisors, tech resources, funding, and an enabling regulatory environment. The EMTECH Digital Regulatory Sandbox (™) is a key tool that makes it possible for regulators to be effective partners to the ecosystem, as both want to see the digitization of finance. “It is my hope that this partnership will help drive inclusive and safe innovation across Africa as it builds the next generation of its financial market infrastructure. This is truly an exciting time for the region, and we’re delighted to play a role”, the Founder and CEO of EMTECH highlighted.
“At StartOA, our primary objective is to collaborate with industry players who are revolutionizing Africa’s fintech landscape, and regulation is a crucial component of this mission. Our partnership with EMTECH will empower fintechs in emerging markets to grow, expand faster, and maintain compliance with regulatory requirements. We believe that this collaboration will help to unlock the potential of the African fintech market and promote innovation, resilience and compliance in the sector.” – Dziwornu Norbert, StartOA.
The partnership between StartOA and EMTECH can help to provide these resources to fintech startups across Africa. By supporting emerging fintech solutions that drive financial inclusion at scale, the two companies aim to establish Africa as a fintech powerhouse. This, in turn, can help to boost economic growth and improve financial inclusion across the continent.
“As a major player in the financial services industry on the continent, we want to establish Africa as a fintech powerhouse through collaborations, networking, and funding. Our partnership with EMTECH is essential to increasing access to financial technology infrastructure across Africa. We are excited to support emerging fintech solutions that will drive financial inclusion at scale in Africa”, Richard Mensah, Deputy CEO of OA Group, added.
Over the next few months, both parties will unveil a series of programs and opportunities that fintech across the continent can leverage to scale their operations. These initiatives will include a fintech challenge, conferences, and other events designed to foster innovation, collaboration, and growth in the African fintech ecosystem.
Brief about StartOA and Emtech
EMTECH provides modern central banking infrastructure to drive inclusive access to modern and sound financial markets by connecting central banks and fintech in a user-friendly manner with regulatory and currency-related software services such as pre-built regulatory reporting APIs.
StartOA collaborates with founders across Africa to deliver and deploy high-impact-driven solutions for people and businesses on the continent. We achieve this through construct engagements with founders regarding but not limited to access to capital, strategic partnerships, and market expansion.
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