FirstBank played a prominent role as a proud sponsor of the Canada-Africa Fintech Summit (CAFS 2025), held from 5 to 8 August at the Sheraton Centre in downtown Toronto.
Convened by Dr Segun Aina, President of the African Fintech Network, the event brought together fintech leaders, regulators, startups, and investors from Africa and Canada to develop scalable digital solutions, stimulate investment, and advance inclusive economic growth across both regions.
With a heritage of over 131 years in financial services, FirstBank’s sponsorship underlines its dedication to promoting cross-border partnerships, expanding financial inclusion, and driving innovation within the global fintech arena. 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.”
During a high-level panel discussion alongside Rudy Cuzzeto, MPP for Mississauga–Lakeshore, and David Stevenson, Country Director for the United Nations World Food Programme (Nigeria), Chuma Ezirim, Group Executive for E-Business & Retail Products at FirstBank, stressed the growing importance of digital collaboration in Africa’s financial landscape.
“We’re building APIs that understand regulatory bifurcation, who has access to what, and why. The technology is the easy part. The real challenge lies in maintaining security, consent, and performance,” he explained.
He noted that Nigeria’s fintech sector has moved from disruption to convergence, integrating banks, fintech firms, and regulators into a more agile and accountable ecosystem. Ezirim also maintained that regulatory clarity is vital for building public trust and drawing private sector investment into fintech.
“The more we collaborate, the more lessons we learn, and the greater the benefits for consumers,” he said.
In another panel session, Rachel Adeshina, Chief Technology Officer at FirstBank, discussed the use of artificial intelligence to widen credit access for underserved communities.
“We’re addressing data poverty by using AI to interpret alternative data, allowing us to lend to individuals who might otherwise be invisible to the traditional credit system,” she said.
Adeshina pointed out that FirstBank has issued more than ₦1 trillion in digital loans through its AI-driven model, achieving a repayment rate exceeding 99 per cent.
“This innovation was enabled not only by technology but also by a supportive environment, including API banking regulations, data privacy laws, and a shift from account-based to wallet-based banking,” she added.
She also remarked on the need for scalability through cooperation, observing that in Africa’s fragmented markets, digital expansion will depend on interoperability.
“Connecting the 54 markets is the next big challenge, and fintechs are ideally positioned to lead that initiative,” she said.
The summit forms part of Canada’s broader Africa Strategy, aimed at building stronger economic links, encouraging digital partnerships, and promoting innovation exchange. As Africa’s digital finance sector grows and Canada develops its open banking framework, CAFS 2025 provided a timely forum for aligning strategies and sparking new collaborations.
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