African financial services sector “missing a trick” say education experts
Africa’s financial services sector is missing out on big opportunities in the rapidly growing education technology market, say the organisers of the continent’s biggest EdTech conference. They claim that African banks and financial services companies are “missing a trick” by failing to get involved and back innovative start-ups in the education technology sector.
Rebecca Stromeyer, Founder of the eLearning Africa, which will take place in Cairo, Egypt from May 24 to 26, 2016 and will host over 1,400 people at the annual pan-African event, said today:
“African economies are growing rapidly – some of them at over ten per cent a year. These are exciting times. But the financial sector is missing a trick and it’s important, if growth is to be maintained, that it should pay proper attention. The education technology sector is not only crucially important for the future of every African economy, but it also offers some of the most exciting investment opportunities in the world.
“Our conference and exhibition, eLearning Africa, is supported every year by communications and technology companies, entrepreneurs and providers of education products and services. But the people we hardly ever see are the ones with most to gain – the banks and financial services businesses.
“The education sector has become an important part of the economy of many countries. In the United Kingdom, for example, it is the fourth or fifth biggest export sector and it has grown massively over the last decade. That is because of the multiplicity of new opportunities to spread education by using new communications technology. In Africa, the opportunities are enormous and the continent is producing some of the world’s most talented innovators, with great ideas about new products for the education and training sectors. These are the sort of things that can offer huge benefits across the whole economy and we need to make sure that they get the support they deserve from African banks and finance companies.”
A major focus of the conference will be on support for innovation and the organisers are hoping to introduce African education entrepreneurs, innovators and start-ups to new sources of funding and partnership.
“I hope the banks and financial companies will respond to our call to get involved,” says Ms Stromeyer. “They’ll find many spectacular new opportunities in this sector.”