As the saying goes; there is no innovation without representation! A democratic ideal of ensuring that everyone involved gets a chance to be represented fairly in technological developments. This statement sparked our co-creation process, which has been running over the past month. Co-creation has been the leading star of all our engagements with the diaspora community. During this time we have had two successful roundtable discussions solely addressing the opportunities and potential of Islamic financing tools. You ask why?I will tell you the answer is simple. Read on.
The Global Islamic Fintech Report explains that Africa has a majority muslim population of 56% and in this day & age, there is hardly any concerted effort to serve this population. In addition to this, according to the world economic Forum (2017), Islamic finance assets still represent less than 1% of global financial assets. The global Islamic asset base grew from approximately US$200 billion in 2003 to an estimated US$2 trillion at the end of 2016. Industry experts projected that the global Islamic asset surpassed the US$3 trillion mark by the end of last year,2020.
The two Islamic roundtable discussions addressed both obstacles and opportunities in the sector, to allow better involvement of the people in the technological development of the future platform. The question really is; can the African diaspora ignite growth and scale to the continent?
This month, we are also involving key institutional partners within Kenya, Ethiopia and Somalia. We have gathered more insights, in our journey of mapping out the diaspora community. With at least twenty, one on one interviews, we have made additional user insights to make sure the future platform is built by the diaspora for the diaspora.
So you must be wondering what’s next! Well, the answer is a lot! Believe me when I say we have only just begun. Our first step, as of mid April, will be connecting to over 800 diasporas on a global scale. We ask them to join us and freely co-create, as we go further on developing the platform. Together with our new & talented teammates we have enriched our capacity to deliver something that has been, just but a wish from the community.
We consistently aim at doing better, but acknowledge there will always be room for even more improvements. Please, do not shy away from reaching out to me for any feedback you might have or better yet, an opportunity you see for you joining our dream project