By Ayomide Otitoju
FirstBank has reaffirmed its commitment to inclusive financial innovation with its sponsorship of the Canada-Africa Fintech Summit (CAFS 2025), held from August 5–8 at the Sheraton Centre, Toronto.
Organised by Dr. Segun Aina, President of the African Fintech Network, the summit brought together fintech leaders, regulators, investors, and startups from Africa and Canada to explore scalable digital solutions, deepen investment opportunities, and promote inclusive economic development across both continents.
Speaking on the bank’s participation, Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications, said the sponsorship underscored FirstBank’s dedication to cross-border collaboration and digital innovation. “Collaboration between African and Canadian fintech ecosystems can lead to transformative innovations. FirstBank is proud to help shape that future,” Ijabiyi stated.
At a high-level panel session, Chuma Ezirim, Group Executive for E-Business & Retail Products at FirstBank, highlighted the growing integration of banks, fintechs, and regulators in Nigeria’s financial ecosystem. “The technology is the easy part. The real challenge lies in maintaining security, consent, and performance,” he said. Ezirim stressed the need for regulatory clarity to build trust and attract investment, adding, “The more we collaborate, the more lessons we learn, and the greater the benefits for consumers.”
In another session, FirstBank’s Chief Technology Officer, Rachel Adeshina, discussed the bank’s use of artificial intelligence to expand credit access for the underbanked. She noted that the bank has disbursed over ₦1 trillion in AI-driven digital loans, achieving a repayment rate exceeding 99%. “We are addressing data poverty by using AI to interpret alternative data, enabling us to lend to those invisible to traditional credit systems,” Adeshina explained. She emphasised that scalability in Africa’s fintech sector will depend on interoperability across the continent’s 54 markets.
The summit also formed part of Canada’s broader Africa Strategy, aimed at enhancing economic partnerships, digital cooperation, and innovation exchange. With Africa’s digital finance sector expanding rapidly and Canada advancing its open banking framework, CAFS 2025 provided a timely platform to align policies and spark new collaborations.
