By Oyinkansayo Wole-Bodunde.
FirstBank recently sponsored the Canada-Africa Fintech Summit (CAFS 2025), a landmark event that united fintech leaders, regulators, startups, and investors from Africa and Canada.
The summit was held at the Sheraton Centre in Downtown Toronto from August 5-8. It aimed to explore digital solutions, encourage investment, and promote inclusive economic development.
FirstBank’s sponsorship shows its commitment to advancing cross-border collaboration, financial inclusion, and innovative fintech solutions.
Chuma Ezirim, Group Executive for E-Business & Retail Products at FirstBank, emphasized the importance of digital cooperation in Africa’s financial sector. He said, “We’re developing APIs that navigate regulatory bifurcation—understanding who has access to what and why. The real challenge isn’t technology; it’s ensuring security, consent, and performance.” He also said that fintech in Nigeria has evolved into a converged ecosystem, integrating banks, fintechs, and regulators.
Rachel Adeshina, Chief Technology Officer at FirstBank, shared insights on using AI to improve credit access for the underbanked. She said, “We’re tackling data poverty by using AI to interpret alternative data, enabling us to lend to individuals who are often invisible to traditional credit systems.”
FirstBank has disbursed over ₦1 trillion in digital loans through this approach, achieving a repayment rate of over 99%.
Rachel Adeshina also mentioned the importance of interoperability and digital scale across Africa’s 54 markets. She said, “Fintechs are uniquely positioned to lead the charge in connecting all these markets.”
