By Chinenye Anuforo
QNET, a global direct selling company, highlighted the potential of financial inclusion and e-commerce to drive Africa’s economic growth during the Africa Tech Alliance Forum 4.0 (AfriTech) in Lagos.
The company also was honored with the prestigious Direct Selling Company of the Year award at the event.
AfriTech Awards is a prominent platform that recognizes and celebrates excellence in technology and innovation across Africa. The award recognizes QNET’s significant contributions to the African tech ecosystem, particularly in driving financial inclusion and e-commerce growth.
Biram Fall, Regional General Manager, QNET Sub-Saharan Africa (SSA) emphasised the importance of financial inclusion in empowering individuals and communities. He noted that the number of unbanked adults in Africa represent a significant opportunity to foster economic empowerment.
“Financial inclusion transforms lives. Empowering individuals with basic financial tools creates a foundation for economic independence and reduces income inequality.”
Fall also discussed the burgeoning e-commerce sector in Africa, projected to reach $75 billion by 2025. However, he acknowledged the challenges posed by limited banking infrastructure and a reliance on cash.
“Digital payment solutions, such as mobile wallets, make online transactions accessible and foster trust in digital platforms,” Fall explained.
Continuing, he stated that, “When secure payment options are accessible, consumers feel empowered to engage in the digital economy, which ultimately drives business growth and community development.”
He highlighted QNET’s initiatives in financial inclusion and e-commerce, including: FinGreen initiative, a financial literacy program that has trained over 1,350 young people in Nigeria. He added the direct selling model, a platform that empowers individuals to become entrepreneurs and generate income.
Fall called for collaboration between various stakeholders to drive financial inclusion and e-commerce growth in Africa. “Together, we can support innovation and build a future where financial tools are accessible to all, fostering a financially inclusive Africa”, Fall stated.
Commenting on the award, he explained the recognition underscored QNET’s commitment to innovation, entrepreneurship, and digital transformation in Africa.
The award highlighted QNET’s significant contributions to the direct selling industry in Nigeria and its positive impact on the local economy. By leveraging advanced technology and a robust e-commerce platform, QNET empowers individuals to build successful businesses and improve their lives.
“QNET’s participation in this event further solidified its position as a key player in the region’s digital transformation journey. This award is a tremendous encouragement. We are committed to staying in Nigeria, our biggest market in Sub-Saharan Africa. We are proud to be recognized and look forward to contributing to the region’s development in the years to come”, he stated.
Also speaking, the CEO of Transblue Nigeria Ltd, QNET’s legal partner, emphasises the importance of leapfrogging in Africa’s digital transformation. He highlighted the potential of young Nigerians to drive innovation and address social challenges through tech solutions. Ajisafe called for government support, particularly in telecommunications infrastructure, to bolster the digital revolution. He also stressed the significance of collaboration, urging individuals to focus on their strengths and partner with others to achieve faster growth. “TransBlue, as a logistics company, plays a vital role in QNET’s e-commerce operations, ensuring efficient and secure product delivery.”
On the theme of the event “Leapfrogging Digital Transformation for Future of Africa’s Economy”, he pointed out that, it highlights the opportunity for Africa to bypass limitations of the past and embrace the latest technology. “It’s crucial to increase participation in the tech industry, and platforms like AfriTech 4.0 showcases the amazing solutions young Nigerians are developing. This can empower them to alleviate poverty and improve lives across the continent,” said Ajisafe.