NO MORE HANDOUTS, MORE INVESTMENTS.
The President of the African Development Bank (AfDB), Akinwumi Adesina, voiced the need to invest more in the youths than anything else. According to him, 75% of youth in Nigeria are under the age of 35. He expressed that such a demographic factor can be turned into an economic dividend.
HOW?
Well, he said that the establishment of the new financial institutions by young professionals would play a vital role in the development and deployment of new and financial products.
While reading further, it came to my knowledge that Google had announced plans to invest $1 billion in Africa. Great?
The President of the AfDB also hit on the urgency to invest in FinTech while saying that the AfDB was ready to support the Federal government with an investment of $600 million on Digital Nigeria being led by the Vice President Osibanjo.
WHAT IS FINTECH?
Same question i asked myself when i saw it. FinTech is an acronym for Financial Technology. This is "new" tech that we see almost everyday now. Some of FinTech's active areas are Cryptocurrency, Blockchain Technology and many others.
FinTech doesn't just focus on the financial sector though. They also branched into education, fundraising and others.
While reading this article, my mind buzzed with different possibilities. This man is influential no matter how you see it and he emphasized on the necessity of financial technology. Why? Because it is the only way forward!
Right now, the only vacancies for investment in Nigeria is security and the fight against insurgency. There is really no progress. The urgency of Cryptocurrency and blockchain can not be emphasized enough.
This is the only meaningful investment that can be made right now. I had an epiphany while writing this. The world is changing. As the new generation grows, they take over and like every other time, the no change advocates would fight to continue to hold power. Not for long! No matter what they do, they can NOT stop the future.
We don't need youth empowerment programs, what we need is a meaningful and profitable platform with long lasting durability.
I have to say, i got excited writing this because i can taste freedom. In just 20 days, i have made double my salary. What do you call that? Huh?
Nice progress dear keep it up👍🏼, and you always put out good content.
Thank you... I always try my best... 😊
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One thing that is more of a breakthrough in the history of human evolution in my opinion is the financial inclusion crypto offers, where anyone from anywhere can participate. So yeah things like this validate your thoughts. Fintech is the future
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"We don't need youth empowerment programs, what we need is a meaningful and profitable platform with long lasting durability"
You nailed it here...all we need is a platform.
This is really thoughtful
Thank you so much for reading.
Well, this is indeed a very welcomed development, it'll surely change a lot of lives for the better. But I'm scared, how do they tend to improve Fintech in a country that seems out to stop progressing youths. What do I mean, the rate at which the security agencies are harassing the successful youths is alarming..you can't pass two checkpoints without being stopped and searched. Your phones and rights are being intruded, it's heart breaking.
This is an insightful post...thanks for sharing.
I understand you totally. I feel that now that it has been mentioned, the second step is lifting supposed ban on Crypto... That way youths are free
I hope that happens soon...
Because this our government tends to talk a lot and end up not implementing.
Let's keep our fingers crossed