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The CEO of 9PSB Proposes a Digital Content Strategy for Financial Inclusion

Modupe Gbadeyanka (Modupe Gbadeyanka)

To further financial inclusion in Nigeria, all stakeholders in the financial ecosystem, including content creators, must urgently collaborate to develop and implement a digital content strategy for the unbanked in order to move the financial inclusion needle and, as a result, advance the economy, society, and improve the lives of all Nigerians.

Ms Branka Mracajac, the Chief Executive Officer of 9PSB, spoke at the Tech Summit Ogun 2022 on Thursday, February 17, 2022, at the Olusegun Obasanjo Presidential Library in Abeokuta, Ogun State.

Ms Mracajac, who delivered a keynote address titled Content Creation and Financial Inclusion: The Future of Digital Banking, emphasised the importance of paying close attention to content creation as a key factor in driving and accelerating financial inclusion in the country, claiming that it has the potential to improve the long-term future of digital banking.

The CEO of 9PSB Proposes a Digital Content Strategy for Financial Inclusion
The CEO of 9PSB Proposes a Digital Content Strategy for Financial Inclusion

While there are ongoing efforts to support the country’s financial inclusion drive, she believes that a lot more emphasis should be placed on developing tailored strategies that address specific needs.

“Access to banking agents and touchpoints is happening right now across the country; payment service banks, microfinance banks, and FinTech companies are all working on it,” she explained.

Will this, however, be sufficient? Will access to digital banks change Nigerians’ minds in rural areas and be sufficient to drive the country’s transition from cash to a cashless society?” she inquired.

Ms Mracajac outlined the path forward, emphasising the importance of providing financial literacy through content that speaks to the average Nigerian in the country’s unserved rural areas, stating that financial inclusion is a process, not a destination.

She went on to say that creating content that only speaks to the already banked and mirrors the digital financial habits of the fully included and heavily banked will not help the newly onboarded stay in the system long-term.

“As we create and deliver content for financial inclusion, we must keep in mind the needs of its beneficiaries, the targeted end-users of financial services who are currently underserved, and the only sustainable way is for us to join forces and create content – apps and services that will address the specific needs of a farmer in Benue, market women in Onitsha, traders in Kano, fisherman in Delta, and woman selling ofada rice in Ogun State.”

Ms Mracajac went on to say that in order to move offline individuals and MSMEs from cash to cashless, analogue to digital, and informal to formal banking, content creators must focus on two major goals: one, to deliver relevant and on-point digital financial literacy content, educating people about the principles, ways, modules, and benefits of banking; and two, to deliver relevant and on-point digital financial literacy content, educating people about the principles, ways, modules, and benefits of banking.

The second, she explained, is required for long-term financial inclusion, including the provision of digital banking services that reflect the lifestyles of the currently unbanked and underserved.

The Minister of Communications and Digital Economy, Mr Isa Ali Ibrahim Pantami, who was represented by the CEO of the Nigerian Communications Satellite Limited (NIGCOMSAT), Dr Abimbola Alale, said in his keynote address titled Disruptive Innovation: Production and Distribution of Creative Content that the quality of creatives and start-ups that Nigeria has produced is a testament to the ecosystem’s potential, and that the ministry will continue to support them.

The Tech Summit Ogun is an annual gathering of tech disruptors, innovators, startups, organisations, and technology enthusiasts in Ogun State, with the goal of fostering technological innovation in the state’s digital transformation and advancement. This year’s summit drew over 2000 people, mostly young people and entrepreneurs.

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