FirstBank proudly sponsored the recently concluded Canada-Africa Fintech Summit (CAFS 2025), held from August 5 to 8 at the Sheraton Centre in Downtown Toronto. Organised by Dr. Segun Aina, President of the African Fintech Network, CAFS 2025 brought together fintech leaders, regulators, startups, and investors from Africa and Canada to explore scalable digital solutions, foster investment, and promote inclusive economic growth across both regions.
With a legacy of over 131 years, FirstBank’s sponsorship underscores its dedication to advancing cross-border collaboration, financial inclusion, and innovative fintech solutions on the global stage. Olayinka Ijabiyi, Acting Group Head of Marketing and Corporate Communications at FirstBank, stated, “Our support for CAFS 2025 reflects our belief that collaboration between African and Canadian fintech ecosystems can drive transformative innovations. FirstBank is committed to shaping that future.”
During a high-level panel, Rudy Cuzzeto, MPP for Mississauga–Lakeshore, and David Stevenson, Country Director for the United Nations World Food Programme (Nigeria), joined Chuma Ezirim, Group Executive for E-Business & Retail Products at FirstBank, to discuss the importance of digital cooperation in Africa’s financial sector. “We’re developing APIs that navigate regulatory bifurcation—understanding who has access to what and why. The real challenge isn’t technology; it’s ensuring security, consent, and performance,” Ezirim explained. “In Nigeria, fintech has moved beyond disruption to convergence, seamlessly integrating banks, fintechs, and regulators into an agile, accountable ecosystem.” He emphasised that regulatory clarity is vital for building public trust and attracting private sector investment, stating, “The more we collaborate, the more lessons we learn, and the greater the benefits for consumers.”
In another panel, Rachel Adeshina, Chief Technology Officer at FirstBank, shared insights on leveraging AI to improve credit access for the underbanked. “We’re tackling data poverty by using AI to interpret alternative data, enabling us to lend to individuals who are often invisible to traditional credit systems,” she said. Adeshina revealed that FirstBank has disbursed over ₦1 trillion in digital loans through this AI-driven approach, achieving a repayment rate of over 99%. “This innovation has been made possible by supportive regulations around API banking, data privacy laws, and a shift from account-based to wallet-based banking,” she added. She stressed that interoperability and digital scale across Africa’s 54 markets will be critical, noting, “Fintechs are uniquely positioned to lead the charge in connecting all these markets.”
The summit aligned with Canada’s broader Africa Strategy, which aims to strengthen economic partnerships, promote digital cooperation, and foster innovation exchange. As Africa’s digital finance ecosystem expands and Canada develops its open banking framework, events like CAFS 2025 are vital platforms to align strategies and catalyse meaningful collaborations.