Microsoft has partnered with Flutterwave to revolutionise financial services and inclusion in Nigeria and other parts of Africa through the financial technology (Fintech) space to catalyse economic growth and improve people’s daily lives.
The President of Microsoft Africa, Lillian Barnard, announced the partnership in Lagos, stating that partnering with companies such as Flutterwave would help the firm accelerate financial innovation and digital inclusion in Africa.
She emphasised that the partnership is significant because many people are still struggling to access financial services to pay their bills. The collaboration has opened doors of growth and opportunity for many businesses.
Barnard highlighted that 50 per cent of the 1.4 billion people in Africa are unbanked, underbanked, and underserved.
She stressed that this cannot be allowed to continue, emphasising that for businesses in Africa to thrive, digital and financial inclusion are of paramount importance.
According to her, Microsoft is partnering with Flutterwave to realise financial inclusion and a digital revolution to ensure that many businesses can seamlessly receive millions of payments from around the world.
Barnard also disclosed that Microsoft’s goal is to invest in and empower 10 million Small and Medium Enterprises (SMEs) by 2025, providing them with the right tools, infrastructure, scaling, and assistance in establishing strategic partnerships.
She stated that fintech companies are helping SMEs and the informal sector, which create the majority of employment by providing seven out of 10 jobs in the country and contributing about 40 per cent to the Gross Domestic Product (GDP) of any economy.
Also speaking, the Country Manager of Microsoft Nigeria, Ola Williams, mentioned that 80 per cent of Nigerians have access to mobile systems, which has spurred growth in the fintech space and enabled many people to participate in mobile payments.
She noted that the flow of investment in fintech contributes to 36 per cent of growth in the economy. Williams emphasised that Microsoft understands the impact of technology on driving positive change in society and job creation through collaboration.
The Chief Executive Officer of Flutterwave, Olugbenga Agboola, expressed pride in being on the Microsoft cloud platform for the future.
He aims to serve billions of Africans without experiencing downtime and provide infrastructure that simplifies payments for the average consumer in Africa and anywhere in the world