In a bid to address the pressing demand for upskilling in Nigeria’s fintech industry, the Africa Fintech Foundry Ecosystem Roundtable 5.0 gathered industry experts to share insights on how Nigeria’s tech talent can continue to upskill in today’s rapidly evolving technology landscape.
Giving the keynote address at the event, Managing Director of Kuda Microfinance Bank, Musty Mustapha, emphasised the urgent need for upskilling in response to the swift rise of advanced technologies such as AI, machine learning, automation, and blockchain.
The World Economic Forum predicts that by 2025, half of all employees globally will need to learn new skills or enhance existing ones to keep pace with these advancements. Goldman Sachs warns of AI potentially replacing hundreds of millions of jobs, while a report by the McKinsey Global Institute projects that by 2030, approximately 14% of workers worldwide may need to consider changing careers due to the impact of digitisation, robotics, and advancements in AI. According to Mustapha, this underscores the importance of learning new skills or enhancing existing ones to keep pace with technological advancements.
Speaking on the need for continuous learning, Mustapha said, “continuous learning is a must at this time, and we have no excuse because knowledge is more accessible than it has ever been. We can learn anything we want online. From YouTube to learning platforms like Coursera, edX, Udemy, and LinkedIn Learning, resources that can help us get better at what we do are at our disposal, oftentimes at no cost.”
In addition to technical proficiency, there is a growing recognition of the importance of soft skills in fintech careers. Mustapha emphasised the need for skills such as communication, teamwork, project management, innovation, and problem-solving, which are essential for career advancement and fostering collaboration within diverse teams.
Ethical considerations are also taking centre stage in Nigeria’s fintech landscape, with professionals prioritising responsible innovation and ethical decision-making. Mustapha says that, “by integrating ethics into fintech-specific digital literacy initiatives, we can make informed ethical decisions, thereby contributing to the conscientious progress of emerging technologies in finance while considering their broader societal implications.”
According to Mustapha, sustainability has emerged as a key focus area within Nigeria’s fintech sector. He said, “we must seek to acquire expertise in green fintech, sustainable finance, eco-friendly technology solutions, and waste reduction. In addition, understanding environmental policies tailored to fintech, such as responsible investing and the development of sustainable financial products, are instrumental in tackling sector-specific challenges.”
As Nigeria’s fintech workforce embraces upskilling amid the technological revolution, the industry is poised for continued growth and innovation. By prioritising continuous learning, ethical decision-making, and sustainability, professionals are positioning themselves for success in the dynamic landscape of fintech, contributing to Nigeria’s economic development and global competitiveness.
