Cedar-IBSi FinTech Lab Partners with Africa Fintech Network to Foster and Enhance Africa’s Fintech Ecosystem

Cedar-IBSi FinTech Lab and Africa Fintech Network (AFN) are delighted to announce the signing of a Memorandum of Understanding (MoU), solidifying their partnership to nurture and strengthen the FinTech ecosystem between Africa and India.

The collaboration aims to create an environment of mutual support, empowering FinTech startups and driving innovation within the industry. Under the agreement, Cedar-IBSi FinTech Lab will extend curated access to its cutting-edge services and platforms to AFN members. AFN members will also have curated access to Cedar-IBSi’s in-house FinTech experts and consultants with 500+ years of cumulative experience in advancing FinTechs and banks. Moreover, AFN companies will have the exclusive opportunity to pitch their ideas and solutions to Cedar Capital, an early-stage FinTech-focused venture capital fund that is part of the wider Cedar group.

Commenting on the partnership, Sahil Anand, Managing Partner at Cedar Capital & Cedar-IBSi FinTech Lab, said, “The African FinTech ecosystem is developing rapidly, very much like we have seen India’s ecosystem develop in the last 5 years. We are pleased to partner with AFN to provide them with access to our expertise and knowledge from this part of the World. In return, I am confident that the Cedar-IBSi FinTech Lab will benefit from African FinTechs that are seeking to build global B2B platforms”

In reciprocal support, Africa Fintech Network will enable Cedar-IBSi FinTech Lab members access to the banks, financial institutions, and ecosystems across its network. AFN will introduce them to promising companies and facilitate access to its infrastructure.

“In furtherance of the development of Africa’s FinTech and wider digital finance ecosystem, Africa Fintech Network (AFN) is excited to partner with Cedar-IBSi Fintech Lab. This unique marriage will provide a platform for direct collaboration between MENA and African fintech ecosystems to create better opportunities and leverage synergies. This is no doubt another major gateway to markets, innovation, talents & investment for our 40 fintech associations across Africa!” said Patrick Saidu Conteh, CEO of Africa Fintech Network.