Phil Mnisi: Closing remarks - IndabaX Award Ceremony
Closing remarks by Mr Phil Mnisi, Governor of the Central Bank of Eswatini, at the
IndabaX Award Ceremony, Nokwane, 22 November 2024.
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Programme Director
Distinguished Guests
Our partners -the members of the Eswatini Fintech Working Group
Participants
Representatives of the media
Ladies and Gentlemen, all protocol observed. Good Afternoon!
Introduction
It is truly an honour to join you at this remarkable gathering, celebrating the talent,
dedication, and innovative spirit of the youth who have participated in this year's
IndabaX AI and Machine Learning hackathon and poster presentations.
In a world increasingly shaped by technology, it is inspiring to see young people rise to
the challenge and seize the opportunities presented by AI and machinelearning.
This event has not only showcased the incredible potential of young minds but has also
fostered a vibrant community of AI enthusiasts.
Congratulating Winners and Commending all Participants
Programme director, allow me to extend my warmest congratulations to our esteemed
winners today. Your hard work, creativity, and commitment have earned you this
moment of recognition, and it is well deserved.
To those who may not have taken home an award today, I want to assure you that you
have already distinguished yourselves as innovators, problem-solvers, and visionaries.
Your participation in this challenge demonstrates your potential to shape the future.
By stepping into this challenge, you have embarked on a journey that sets you apart as
individuals who dare to think critically and push the boundaries of what is possible. Your
courage and creativity inspire us all.
Acknowledging Last Year's Winners
Distinguished guests, ladies and gentlemen, I have been privileged to learn about the
extraordinary achievements of last year's winners, Mr. Sifiso Ngwenya and Mr.
Samkelo Msibi. These young innovators not only captured the hearts of our nation but
also soared to new heights by competing at the Africa IndabaX event, where they
secured second and third place in their respective categories.
Their remarkable success is a testament to the boundless potential and unwavering
dedication of our youth. It fills us with immense pride to witness such exceptional talent
emerging from within our borders. Their journey serves as an inspiration to us all,
reminding us that when passion meets opportunity, there is no limit to what can be
achieved.
Innovation in Finance
Programme director, the realm of fintech and payments innovation holds immense
personal significance for me. These domains underpin the modern financial landscape,
enabling seamless transactions and financial inclusion. The rapid advancements driven
by young innovators are reshaping how we interact with money, access services, and
foster economic growth.
Fintech and payments innovations are revolutionizing the financial industry. Mobile
banking, digital wallets, and blockchain technology are breaking down barriers,
empowering individuals and businesses, especially those traditionally underserved by
traditional banking systems. These innovations are fostering financial inclusion by
providing access to essential financial services to a wider population.
As we embrace the future of fintech and payments, it is imperative to prioritize security
and privacy. Robust security measures are crucial to safeguard sensitive financial data
and protect consumers from cyber threats. Additionally, collaboration between fintech
startups, established financial institutions, and regulatory bodies is essential to drive
innovation, ensure compliance, and create a sustainable ecosystem. By embracing
these advancements, we can unlock new opportunities, empower individuals, and build
a more resilient and inclusive financial future.
Unemployment
Distinguished guests, I am acutely aware of the daunting challenges facing today's
youth, particularly in securing employment opportunities. This reality was starkly
apparent when we recently advertised 25 positions for our Graduate Trainee
Programme. The overwhelming response of 2,059 applications underscores the
scarcity of jobs and the fierce competition young people encounter in their pursuit of
entering the workforce. However, I urge you not to be deterred by these challenges.
Instead, let this adversity fuel your determination to equip yourselves with the skills,
innovation, and agility that will set you apart in our rapidly evolving world.
Embrace the opportunity to cultivate your skills and knowledge. Seek out continuous
learning opportunities, whether through formal education, online courses, or industry
certifications. Stay abreast of emerging trends and technologies, and develop the
adaptability to navigate a constantly changing landscape. Cultivate a mindset of
innovation, thinking critically, and approaching challenges with creative solutions.
Remember, your potential is boundless. With perseverance, resilience, and a
willingness to embrace change, you can overcome obstacles and carve out successful
careers. I encourage you to network with professionals in your field, build strong
relationships, and seek mentorship from experienced individuals. By leveraging these
connections, you can gain valuable insights and open doors to new opportunities.
Pillars of Innovation
Programme director, to every participant present heretoday, I want to remind you that
the skills and mindset you are cultivating through events like this are your power. With
industries undergoing rapid digital transformation, you are positioning yourselves not
just to be part of the future but to shape it.
Stay curious, because curiosity is the seed of innovation. Stay courageous, because it
is courage that allows ideas to take flight. And most importantly, stay collaborative, as
the best innovations often arise from shared visions.
CBE Commitment to Innovation Initiatives
Programme director, as the Central Bankof Eswatini, we recognize our role in fostering
an environment that supports innovation and creates pathways for growth.
We are committed to initiatives like this and will continue to lend our support to
platforms that empower our youth and drive our nation's progress.
Conclusion
Distinguished guests, before I conclude, I would like to express my heartfelt gratitude to
the Eswatini Fintech Working Group and the event organisers for their dedication and
effort in making this initiative a reality. Colleagues, your commitment to driving
Eswatini's innovation journey is both inspiring and invaluable.
By creating platforms such as this, you are not only nurturing local talent but also
paving the way for transformative growth in our nation. I encourage you to continue this
important work-never give up. The youth are looking to us for guidance, and we must
strive to create even more opportunities for them to thrive, innovate, and shape the
future of Eswatini. Your efforts are a beacon of hope, and I am confident they will leave
a lasting impact. Thank you for your leadership and dedication.
In closing, I leave you with this thought: The journey of innovation does not end here.
Let today serve as a launchpad for bigger ideas, greater ambitions, and transformative
solutions. The future is yours to shape, and it is in excellent hands.
Congratulations once again to all our participants and winners. Let us continue to
dream big, think boldly,and innovate relentlessly.
Once Again, I Thank You ALL!