The Central Bank of Kenya has announced that it will postpone the Afro-Asia fintech festival, citing health concerns. The event scheduled for 13-14 July 2020 will now take place in July 2021. Nevertheless, CBK and the Monetary Authority of Singapore, the cohosts, will avail virtual events to commemorate the occasion.

“The postponement follows careful consideration by the cohosts, CBK and the Monetary Authority of Singapore (MAS) of the impact of the coronavirus pandemic (COVID-19) and the utmost importance of the health and safety of the festival participants,” reads a CBK press release seen by The Kenyan Wall street. 

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Last year, Kenya hosted the first Afro-Asia Fintech festival, featuring over 1500 participants from 45 countries. The event models Singapore Fintech Festival, seeking to develop sustainable innovations in financial services from emerging markets.

The debut festival was a partnership between CBK and the Singaporean Monetary Authority, and the launch of the Global Fintech Hackcelerator in Kenya.

The hackathon challenges fintech startups to develop innovative, scalable financial solutions. Kenya’s Kwara and Uganda’s Bureau Vente won the hackathon and received platforms to showcase their innovations globally.

SEE ALSO: Kenya hosts the first Afro-Asia Fintech festival