Inclusive Financial Nigeria Awards (IFINA)
Inclusive Financial Nigeria Awards (IFINA) recognizes, celebrates and rewards outstanding achievements and innovative financial practices, which make financial services accessible to disadvantaged Nigerians.Financial inclusion has continued to assume increasing recognition across the globe among policy makers, researchers and development oriented agencies. Its importance derives from the promise it holds as a tool for economic development, particularly in the areas of poverty reduction, employment generation, wealth creation and improving welfare and general standard of living.
THE PURSUIT The global pursuit of financial inclusion as a vehicle for economic development had a positive effect in Nigeria as the exclusion rate reduced from 53.0 % in 2008 to 46.3 % in 2010.
The Future of Fintech
Specifically, adult Nigerians with access to payment services is planned to increase from 21.6% in 2010 to 70% in 2020, while those with access to savings should increase from 24.0% to 60%; and credit from 2% to 40%, insurance from1% to 40% and pensions from 5% to 40%, within the same period.
The Financial Inclusion Strategy for Nigeria is a national project and as such, there are various stakeholders involved in the implementation. The key stakeholders are broadly categorized into government and its agencies, regulators, financial service providers and their apexes infrastructure providers, mobile network operators and development partners, among others. Accordingly, each of these stakeholders has been assigned detailed roles as specified in the strategy document. To encourage the various stakeholders to redouble their efforts in meeting and surpassing the national financial inclusion targets, IFINA will annually celebrate outstanding achievements across board. IFINA is organized by FINTECH AFRICA, Africa’s premier financial technology publication, and below is the roadmap for achieving success for FIA.
Reasons to Participate in the Awards
FIA will give you the opportunity to position your brand as a market leader and a champion of financial inclusion.1
FIA will give your brand a huge marketing exposure. As a media event, all aspects of FIA from the nominations stage, voting, judging and awards presentations would be leveraged.2
FIA will enhance your brand visibility during the voting process and during the gala dinner night for the awards.3
FIA would provide opportunity for networking with the industry’s most influential people including most senior-level decision makers in the different financial sector.4
THE CATEGORIES AWARD CATEGORIES
These categories of awards are for non-banking entities that provide affordable loans for the bottom of the pyramid.
Best Non-banking loan platform
- Fastest growing non-banking loan platform
- Most promising non-banking loan platform
These awards are for a telco that is providing telecommunication loan to its subscribers.
- Best telecommunication loan
These categories of awards are for insurers or companies that provide affordable insurance services for the bottom of the pyramid.
- Best mobile insurance services
- Best micro-health insurance product
This award goes to any local or state government that operates social security or lending scheme for bottom of the pyramid.
- Best Government access fund service
These categories of awards are for non-profit organizations that drive financial inclusion through advocacy and granting of grants.
- Best non-profit organization driving financial inclusion
- Fastest growing nonprofit organization driving financial inclusion
These categories of awards are for insurers that enable under-served market to use insurance services.
- Best insurance for people living with disability
- Best life insurance covers
- Best health insurance cover*
FINANCIAL INCLUSION PERSON OF THE YEAR (MALE)
This award goes to a man that distinguishes himself in the provision of financial services to the underserved communities
These categories of awards are for solar energy marketing firm that provide affordable service for the people.
- Best pay as you go solar solution
- Best irrigation solar company
FINANCIAL SOFTWARE COMPANY
These categories are for software companies that specialize in the development of financial solutions.
- Best financial software company
- Fastest growing financial software company
These categories of awards are for crowd funding and peer to peer lending firms.
- Best fundraising management platform
- Best peer-to-peer lending platform
These categories of awards are for micro-finance institutions that provide easy access for funding of projects.
- Best microfinance mobile services
- Best agribusiness financing microfinance
- Best community based microfinance
- Best Diaspora microfinance
These categories of awards are for companies that use technology provide access for learning.
- Best mobile e-learning platform
- Best education access fund
This award is for agent that demonstrates flexibility in payment for acquisition of lands.
- Best flexible payment land agent
Financial Inclusion Person of the Year (Female)
This award goes to a woman that distinguishes herself in the provision of financial services to the underserved communities.
These categories of awards are for companies that use technology to provide financial solution to the agriculture sector.
- Best digital financial services in Agriculture
- Fastest growing digital financial services in Agriculture
These categories of awards are for companies that use blockchain solutions to provide accessible financial services.
- Best use blockchain technologies for financial inclusion
- Most innovative in use of blockchain technology
NON MOBILE MONEY TRANSFER PLATFORM
These categories of awards are for non-mobile companies that are offering money transfer services.
- Best international money transfer
- Best Africa money transfer platform
- Best local money transfer platform
These categories of awards are for money deposit banks that provide easy access for funding of projects.
- Best agriculture/agribusiness financing bank
- Best affordable housing financing
- Best loan capital to SMEs
- Best interest rate offer
- Most preferred women support bank
These categories of awards are for platforms that provide mass access for wealth creation.
- Best online investment platform
- Best money market fund
This award is for company that uses technology to simplify cooperative management
- Best use of technology for cooperative management
Financial Inclusion Leadership Award
This award goes to a person that is providing sterling leadership in the provision of financial inclusion services