Governor Adeleke committed to make Osun ‘hub of commercial, economic activities’ – Rev. Bunmi Jenyo

GOVERNOR ADELEKE COMMITTED TO MAKE OSUN ‘HUB OF COMMERCIAL, ECONOMIC ACTIVITIES’ – REV. BUNMI JENYO

The Honourable Commissioner for Commerce and Industry in Osun State has restated the commitment of Governor Ademola Jackson Nurudeen Adeleke to make the State a hub of commercial, industrial and economic activities in the South West, Nigeria and beyond.

Rev. Jenyo who represented Governor Adeleke at the Canada-Africa Fintech Summit held at Sheraton Centre Hotel, Toronto Canada made the declaration recently.

The Summit underscores the significance of partnerships in driving fintech innovation, talent development and economic growth in the African Continent.

According to the Commissioner, “the chances of success are higher if the continent leverages on the diasporans’ capabilities in sectors such as Engineering and Technology, Information and Communication, Agriculture, Health, Education, Tourism, Mining, Manufacturing and Renewable Energy, to mention a few. These sectors not only promise substantial financial returns for investors but also align with global trends towards sustainability and technological advancement”.

“Osun State Government is open beyond borders and across space for industrial investment revolutions to investors, Fintechs, ICT Hubs, Manufacturing Industries, World Leaders in Business, Business Executives among others”.

“The Canada-Africa Fintech Summit therefore provides a platform for us to explore opportunities, share ideas and forge partnerships. I believe that our collaboration will yield tangible benefits for both Canada, Africa, Nigeria and Osun State in particular”, the Commissioner said.

In his keynote address, the Nigeria’s Vice President, Sen. Kashim Shettima described the Summit as a gathering that not only symbolized the strength of cross-continental partnerships but also reinforced a collective commitment to shaping a future, where no one is left behind in the digital transformation race.

According to Vice President Shettima, “This summit takes place at a defining moment in our global financial history when digital innovation is disrupting the status quo and reshaping economies. Nigeria and Canada stand as fintech frontrunners on their respective continents, each with unique strengths and complementary visions”.

“In Canada, the fintech sector is valued at over CAD 60 billion and growing, supported by cutting-edge innovations in regtech, open banking, sustainable finance, and digital identity systems. With Toronto being home to over 700 fintech firms and world-class incubators like the MaRS Discovery District, the country is known for its robust innovation ecosystem and stable regulatory environment”.

Nigeria, on the other hand, is the beating heart of Africa’s fintech revolution. Contributing over 60% of Africa’s total fintech funding, Nigeria has raised more than $2 billion in startup capital in just the past few years. Our success stories, Flutterwave, Paystack, Interswitch, Moniepoint, and PiggyVest, are no longer just African brands; they are global players”.

“Today, over 45% of Nigeria’s adult population access digital financial services, up from 21% a decade ago, a testament to our digital transformation drive”.

“Nigeria’s fintech progress is not accidental; it is the result of deliberate and visionary policy action. Under the leadership of President Bola Ahmed Tinubu, we launched the Aso Accord on Economic and Financial Inclusion, a landmark intergovernmental framework for fast-tracking inclusion through collaboration, innovation, and scale. Aligned with the Renewed Hope Agenda, our administration is determined to leverage technology to unlock opportunities for job creation, economic diversification, gender equity, and youth empowerment. Through the Presidential Committee on Economic and Financial Inclusion (PreCEFI), we are building inclusive digital ecosystems, expanding biometric identity coverage, reforming MSME finance, and supporting homegrown tech talent with global potential”.

“This Summit presents a golden opportunity for Canada and Nigeria to go beyond bilateral diplomacy to co-create a future driven by inclusive innovation and Nigeria has envisioned four clear pathways to achieve this critical collaboration”, he said.

Meanwhile in his opening remarks, Dr. Segun Aina OFR, who is the President, Africa Fintech Network and Co-Convener, Canada-Africa Fintech Summit (CAFS) 2025 noted that the event is not just a Summit but a “spark, an incredible platform, a movement. A new chapter in how Canada and Africa engage – with Fintech as a bridge”.

According to him, “Africa is entering what I call it’s Fintech Decade – powered by youthful energy, digital hunger and unstoppable innovation. From mobile banking to blockchain, solutions built for Africa are now inspiring the world – right from the days of MPesa and now with not less than nine Fintech unicorns coming out of Africa and tens of near Unicorns across the continent”.

“This Summit, under the theme: “Accelerating Canada-Africa Fintech: Collaboration for Talent, Innovation, Investment and Economic Growth” is where bold ideas become bold action”, Dr. Segun Aina said.

Also, the High Commission of the Republic of Rwanda in Canada urged that the Summit be a starting point for deeper engagement between Africa and Canada. “Let us harness the full potential of Fintech to bridge devides, create opportunities and shape a digital future that reflects the aspirations of our people”.

“Across Africa, the fintech revolution is not on the horizon—it is already here. It is mobile money in Kenya, connecting rural farmers to markets through M-Pesa. It is digital wallets in Ghana and South Africa, empowering small businesses and creating new ecosystems of commerce. It is Rwanda’s Irembo platform, digitizing government services and providing a model for how fintech can enhance transparency, accessibility, and service delivery”.

“These are not isolated innovations; they are building blocks of a broader digital economy that is reshaping Africa’s trajectory. From the African perspective, fintech is more than a sector—it is a strategy. It is about leapfrogging traditional infrastructure, accelerating financial inclusion, and unlocking the potential of over 400 million unbanked adults”.

“It is about connecting entrepreneurs to capital, youth to opportunity, and governments to citizens.Yet, for all its promise, Africa’s fintech landscape faces critical challenges. Many communities still lack reliable access to digital devices and affordable internet”.

“The Digital Transformation Strategy for Africa (2020–2030) and the AU’s Fintech Regulatory Framework offer a harmonized path forward, aiming to create a single digital market aligned with the African Continental Free Trade Area (AfCFTA)”.

“This is a bold vision: a continent where innovation can move as freely as goods and people, and where investments are scaled across borders.Canada has a valuable role to play in this story. First, as a partner in investment. Canadian financial institutions, venture capital firms, and technology companies are well-positioned to enter African markets where fintech demand is high and innovation is vibrant”.

“Second, as a partner in knowledge transfer. Canada’s regulatory expertise, cybersecurity institutions, and educational networks can help strengthen Africa’s fintech foundations”.

“And third, as a values-driven ally, Canada can help ensure that Africa’s digital growth is inclusive and anchored in sustainable development.The AfCFTA offers a historic opportunity. With a market of 1.4 billion people and a combined GDP of over $3.4 trillion, it is the world’s largest free trade area. But its real value lies in how it enables regional integration—simplifying cross-border regulations, standardizing digital payments, and unlocking economies of scale”.

“For Canadian investors, this means one investment in Africa is no longer confined to a single country—it can be a gateway to a continental market”, he said.