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Fintech at the Forefront: Kenya’s Pioneering Role in Sustainable Urban Development and Global Financial Inclusion

Amid the intricate tapestry of global concerns, Nairobi, Kenya is setting the stage as host to the United Nations Habitat Assembly’s second session. Under the banner, ‘A sustainable urban future through inclusive and effective multilateralism: achieving the sustainable development goals in times of global crises,’ the Assembly promises engaging discourse on pivotal issues, such as affordable housing, urban climate action, recovery from urban crises, localization of the SDGs, and local financing strategies for sustainable development goals.

This critical gathering arrives against a challenging backdrop: a global economic slowdown, escalating crises of human settlement and refugees, persistent climate threats, and trade destabilization due to worldwide conflicts. Yet, despite these daunting circumstances, a glimmer of hope shines from Africa.

The continent is burgeoning into an urbanized haven, with nations like Kenya championing the expansion of forest cover, igniting discussions on climate action, and rallying the youth towards agri-business. In Kenya, where the former regime highlighted housing as a priority under the Big Four agenda, the current administration continues to drive the commitment to housing solutions.

Across the country, cities, municipalities, and towns are witnessing an influx of development funds, enabling the creation of master plans, the organization and advancement of urban transportation, and the development of inclusive urban centers and green spaces to enhance the quality of life.

The linchpin of these initiatives? Fintech. It serves as a vital cog in the wheel, fueling innovative urban architecture and planning solutions and offering funding and credit solutions. It is the beating heart of digital climate financing, powering data-driven solutions and enabling insurance and agri-tech sectors to mitigate risks. By facilitating and securing payments across vital sectors, fintech has democratically opened the door to financial inclusion, reaching even the most remote strata of society. Kenya, therefore, stands as a beacon of fintech innovation and trailblazing, proudly hosting the Assembly.

The Fintech Association of Kenya is excited to contribute to this year’s Assembly. By participating in the Urban Expo, members have the opportunity to connect globally, advocating for their interests and sharing our journey towards becoming a leading fintech Association in Africa. We invite you to join us from June 5th to 9th, 2023, at the UN Complex in Gigiri, where we’ll showcase the milestones achieved and map the path ahead toward a future that’s as promising as it is digital.

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