As online fraud and technological challenges threaten financial systems, stakeholders across East Africa are gearing up for a major collaborative effort.

The Tanzania Fintech Association (TAFINA) is leading the charge with the East African Fintech Investment Forum (EAIF) 2024, an event set to transform the region's fintech landscape.

The two-day forum, beginning next Thursday in Dar es Salaam, will unite investors, regulators and financial institutions from across East Africa.

The forum aims to spark critical discussions and idea-sharing on combating online fraud and exploring the practical applications of artificial intelligence (AI) in addressing these issues. TAFINA Vice Chairperson Reuben Mwatosya highlighted the need for collective problem-solving in facing technological challenges.

"There are various technological issues that require collaboration and idea exchange from different institutions. For instance, tackling the misuse of AI in fraud needs a unified approach to develop effective solutions," Mr Mwatosya said.

This year's forum theme, "Invest & Partner: Leave No One Behind," reflects the commitment to promoting inclusive growth and forging meaningful partnerships within the rapidly evolving fintech sector of East Africa. Shadrack Kamenya, Secretary General of TAFINA, expressed excitement about the event.

"We are thrilled to host this year's East African Fintech Investment Forum. Our program is designed to address both the unique challenges and opportunities in the fintech landscape. We look forward to bringing together industry leaders, innovators and investors for what promises to be an impactful and engaging event." Through initiatives like the EAIF, TAFINA aims to create an environment that fosters innovation, investment and sustainable economic development. The upcoming forum is poised to be a milestone event, advancing the future of fintech in East Africa.