Nairobi — The Central Bank of Kenya has postponed the Afro-Asia Fintech Festival 2020 that was scheduled for July this year, to July next year over the coronavirus pandemic.
In a statement, CBK says it arrived at the decision following careful consideration of the pandemic and the utmost importance of the health and safety of the festival participants.
The regulator however says the Festival will be kept alive through virtual events whose details will be availed shortly.
The event was inaugurated in Nairobi in July last year and was launched by President Uhuru Kenyatta in the presence of Tharman Shanmugaratnam, Senior Minister of the Republic of Singapore.
The festival was the first of its kind in the region, seeking to explore sustainable financial services innovations from emerging Afro-Asian markets.
The key outcomes were the signing of a Fintech Co-operation agreement between CBK and MAS and the launch of the Global Fintech [email protected] (Hackathon).
The Hackathon that attracted 45 fintechs from across Africa, Asia and Europe sought to provide a platform for start-ups to showcase sustainable financial services innovations.
The two winners of the Hackathon, Kwara of Kenya and Bureau Vente of Uganda showcased their solutions at the Global Fintech Hackcelerator at the world's largest fintech festival, Singapore Fintech Festival in November 2019.
CBK says it continued to monitor the progress of the fintechs who participated in the AAFF 2019, by providing them with platforms to showcase their solutions such as during the State Visit of the Prime Minister of Barbados in December 2019.