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Zeepay hosts Disrupt 270 conference to mark International Day of Family Remittances

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To mark International Day of Family Remittances, Zeepay organized a global forum dubbed Disrupt 270 with the theme “Bridging the last frontier – a case for digital remittance post Covid-19.” The one-day event was held on Wednesday, June 16, 2021, at the Zeepay Campus in Cantonments and was streamed live on social media to over 10 countries.Hosted by seasoned MC Jerry Adjorlolo, the 8-hour event had a series of exciting panel discussions from industry leaders, practitioners, and innovators for discussions on the direction and growth of remittances post Covid-19 for the nation and the world at large. Officially opening the conference, the Western Regional Minister, Hon. Kwabena Okyere Darko-Mensah commended Zeepay for taking initiative means to grow Ghana’s fintech industry and also publicly announced the ‘Sekondi Takoradi Financial Hub’ a developmental plan being undertaken by the Western Regional Co-ordinating Council (WRCC).

Delivering the keynote address on behalf of Hon. Ursula Owusu Ekuful, Chief Director for Ministry of Ministry of Communication and Digitalisation, Magdalene Apenteng said: ‘Remittance in Ghana in 2020 represented about 6 percent of Gross Domestic Product. This makes remittance the largest pool of unsolicited foreign direct investment into Ghana and a major source of revenue.’Disrupt 270 celebrated the current strides made in remittance within the fintech sector in Africa while looking ahead to bridge the next frontier and the future of remittances and digital transfers across the African continent and globe plus the role intra-African migration will play. The conference had three main panel discussions on Migration, Scaling Remittances, and Digital Disruption where panelists shared insights and ideas on how to scale opportunities in the fintech industry. The first panel on Migration hosted by Zeepay MD Andrew Takyi-Appiah focused on the evolution of migration and its impact on African cross-border remittance. The panel featured renowned experts: Arianna Gasparri of UNCDF, Eric Akomanyi of IOM, Shadrach Frimpong of Cocoa360, and Francine Dove of IFAD.

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The second panel, Scaling Remittances, was hosted by UNCDF’s Clara Arthur and dealt with the question of how to leverage remittance to improve the livelihood of African consumers. The panelists for this session were Sunkwa Mills of Investcorp, Grace Anim-Yeboah of Absa, Felicity Jafortkuk of Zeepay, and Nashiru Iddrisu of Hollard.During their discussion, Nashiru Iddrisu (Managing Director, Hollard) advised receivers on remittances to save 1/3 of their remittances on insurance for future security.

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The final panel discussion on Digital Disruption was hosted by SDG expert Leticia Brown and focused on the next layer of growth in the digitization of remittances in Africa, the Caribbean, and Asia Pacific beyond cash to wallet and wallet to wallet. Panelists for this session included Lynette Bushuyu of Intermex, Patrick Appiah of MoneyGram, Dede Quarshie of Zeepay, and Nana Adomako of TapTap. Through their interaction, a valid point on how Licensing and regulations is a huge challenge facing the fintech industry both locally and internationally was raised and all panelists made an urgent call to African governments to actively enable the African Continental Free Trade Area (AfCFTA) to aid fintech companies in their operations across the continent.

The final part of the conference was a Demo Day for presentations on innovation within the fintech ecosystem especially Insurtech and Lending. The team from Zuberi presented their Zuberi Pay product an on-demand mobile employee benefits app in Africa. As an interest-free mobile alternative to digital loans for employees, salaried workers have the opportunity to access their salary on a daily basis rather than wait for the month-end. The platform is available to African companies via partnerships that value their employees and want to increase financial well-being within the workplace.

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The team from Zuberi presented their Zuberi Pay product an on-demand mobile employee benefits app in Africa. As an interest-free mobile alternative to digital loans for employees, salaried workers have the opportunity to access their salary on a daily basis rather than wait for the month-end. The platform is available to African companies via partnerships that value their employees and want to increase financial well-being within the workplace. The United Nations General Assembly established the International Day of Family Remittances (IDFR) to be marked on June 16. The IDFR acknowledges nearly two hundred million migrant workers, including men and women, who transfer funds home to over 800 million loved ones.