central bank of kenya afro - asia fintech festival nairobi online city in partnership with the 2020 singapore fintech festival opening remarks by dr. patrick njoroge governor, central bank of kenya december 7, 2020 as prepared for delivery good morning, good afternoon, good evening! it is a great honour for the central bank of kenya ( cbk ) to host the nairobi online city, an iteration of the afro - asia fintech festival ( aaff ) launched in 2019. the aaff nairobi online city is part of the 2020 singapore fintech festival ( sff ). cbk is therefore honoured to join the global community of central banks, governments, financial institutions, fintechs, and other players to deliberate and reflect on the theme of “ people and talent : harnessing collaboration in pursuit of resilience and growth post covid - 19. ’ ’ at the outset, let me express cbk ’ s gratitude to the monetary authority of singapore ( mas ) for allowing cbk and almost 40 other cities to partner in expanding the reach of the virtual 2020 sff. i also appreciate all our partners and service providers who have worked with us to make this event a reality. 2020 has been an exceptional year dominated by the coronavirus ( covid - 19 ) pandemic. our lives and livelihoods have dramatically changed as governments, businesses and citizens globally sought to contain the pandemic. there have been significant adverse health and economic effects that have rolled back global progress in efforts towards the shared prosperity of our citizens. as significant progress begins to be made on the medical front in developing vaccines and therapeutic drugs, the conversation must shift to building back better. while the pandemic has been devastating, it has also accelerated digitalization that should stand us in good stead as we transition to the post covid - 19 recovery. digital platforms have been the lifelines in accessing essential financial, health, education, medical, entertainment and other services. we must embed these gains and leverage them as we pursue global resilience and growth post covid - 19. towards this end, we shall over the next few days, deliberate on various strategies. let me highlight three broad themes to set the stage. first, is restoring small and medium enterprises ( smes ). smes are the engines of economies globally and more particularly in africa. however, they have borne the brunt of covid - 19 containment measures including movement restrictions and curfews. their businesses have been disrupted causing

governance. the overarching theme in our discussions all through this week must be about people. we must constantly ask ourselves, what are their needs? how does technology and innovation meet these needs? most importantly, how do we place people at the centre? in closing, let me once again reiterate what a privilege it is for cbk to be hosting you. the journey of building back better cannot be undertaken alone. platforms such as the nairobi online city provide opportunities for many more of us to come together. let us walk together, as we collectively work towards restoring the lives, livelihoods and dignity of our citizens. it is now my distinct honour and pleasure to declare the afro - asia fintech festival nairobi online city officially opened. i wish you all a fruitful virtual journey as you traverse the world over the next three days. thank you!