Group Decries Dearth of Finance, Technology Talents


Emma Okonji

The number of people that are proficient in finance and technologies is still dramatically low, needless to say that they are in high demand and command high salary, according to the organisers of 2020 Lagos Fintech Week.

According to them, skills such as blockchain, programming languages, JavaScript and Java Machine Learning (ML), Artificial Intelligence (AI), and Deep Learning, cybersecurity including soft skills such as communication and creativity, were lacking in the industry.

The group was of the view that despite the breakthrough and large success recorded by fintech in redefining financial service, the fintech ecosystem still falls short of talents to grow the market for sustainability.

“Across the globe, fintech has shaped banking operations with seamless and simple innovative solutions. The disruption has helped to deepen the global financial inclusion and boost economic output. In Nigeria, the fintech ecosystem has grown to become a leading network in Africa’s financial service industry through innovative solutions,” the group said in a statement.

Citing one of the research reports released by PwC, which stated that 77 per cent of the CEOs surveyed in a particular year, viewed skills shortages as business threats, the group said more research reports from other quarters have shown that the local educational systems are not providing the necessary skills to train students in today’s AI-driven industries, as companies and countries are being confronted with significant talent shortages.

“As fintech evolves in Nigeria, Africa and globally, and sets more sophisticated requirements for technology skills, many businesses lag behind due to the lack of talents and resources to bring their innovative ideas to life,” the group said.

According to them, “To bridge this gap, the organiser of 2020 Lagos Fintech Week has incorporated Fintech Talents Summit (FTS) into the annual week-long event to build a high capacity talent-based for the fintech ecosystem.

Chairman of the organising committee of the 2020 Lagos Fintech Week, Dr. Yele Okeremi, said the Fintech Talents Summit remained the premier space for multi-disciplinary stakeholders from the private sector, policy, academia/education, and innovation to come together to discuss the trends and solutions for the future of work and education in financial technology space.