By 
Africa’s Oldest Bank Leads Global Push for Digital Collaboration
FirstBank, one of Africa’s leading financial institutions with over 131 years of industry leadership, took center stage as a major sponsor of the Canada-Africa Fintech Summit (CAFS 2025), held from August 5–8 at the Sheraton Centre in downtown Toronto.
Convened by Dr. Segun Aina, President of the African Fintech Network, CAFS 2025 brought together fintech leaders, regulators, startups, and investors from Africa and Canada to accelerate scalable digital solutions, cross-border investments, and inclusive economic development across both continents.
FirstBank’s Commitment to Global Fintech Growth
Speaking on the bank’s vision, Olayinka Ijabiyi, Acting Group Head of Marketing and Corporate Communications at FirstBank, said:
“Our support of CAFS 2025 reflects our belief that collaboration between African and Canadian fintech ecosystems can lead to transformative innovations. FirstBank is proud to help shape that future.”
The bank’s sponsorship underscores its dedication to financial inclusion, technology-driven innovation, and fostering meaningful partnerships between global fintech markets.
Building Secure, Collaborative Financial Ecosystems
During a high-level panel with Rudy Cuzzeto, MPP for Mississauga–Lakeshore, and David Stevenson, Country Director for the UN World Food Programme (Nigeria), Chuma Ezirim, Group Executive for E-Business & Retail Products at FirstBank, discussed the bank’s role in bridging fintech, banking, and regulatory ecosystems.
“We’re building APIs that understand regulatory bifurcation—who has access to what, and why,” Ezirim said. “Technology is the easy part; the real challenge lies in ensuring security, consent, and performance.”
Ezirim emphasized that regulatory clarity is key to building public trust and attracting private investment in Africa’s fintech sector, noting that collaboration among banks, fintechs, and regulators has transformed Nigeria’s financial services from disruption to convergence.
AI-Driven Credit Access for the Underbanked
In another panel, Rachel Adeshina, Chief Technology Officer at FirstBank, revealed how AI-powered lending models are closing the credit gap for Africa’s underbanked.
“We’re addressing data poverty by using AI to interpret alternative data, enabling us to lend to people invisible to the traditional credit system,” Adeshina said.
FirstBank has disbursed over ₦1 trillion in digital loans through this model, achieving a repayment rate of over 99%. She credited the success to both technology and enabling regulations, including API banking frameworks and data privacy laws.
Adeshina stressed the need for interoperability across Africa’s 54 markets to achieve true digital scale, positioning fintechs as leaders in that integration.
Strategic Global Partnerships for Fintech Growth
The summit forms part of Canada’s Africa Strategy, aimed at strengthening economic partnerships, digital cooperation, and innovation exchange. As Africa’s fintech market expands and Canada advances its open banking framework, platforms like CAFS 2025 offer unique opportunities to align strategies and drive mutual growth.
