Managing Director of Kuda Microfinance Bank (MfB), Musty
Mustapha, has emphasised the urgent need for upskilling in response to the
swift rise of advanced technologies such as artificial intelligence (AI),
machine learning, automation, and blockchain.
In his keynote at Africa Fintech Foundry Ecosystem Roundtable
5.0,he said technology keeps evolving necessitating the need for upskilling.
The World Economic Forum predicts that by 2025, half of all
employees globally will need to learn new skills or enhance existing ones to
keep pace with these advancements. Goldman Sachs warns of AI potentially
replacing hundreds of millions of jobs, while a report by the McKinsey Global
Institute projects that by 2030, approximately 14per cent of workers worldwide
may need to consider changing careers due to the impact of digitisation,
robotics, and advancements in AI. According to Mustapha, this underscores the
importance of learning new skills or enhancing existing ones to keep pace with
technological advancements.
Speaking on the need for continuous learning, Mustapha said,
“continuous learning is a must at this time, and we have no excuse because
knowledge is more accessible than it has ever been. We can learn anything we
want online. From YouTube to learning platforms like Coursera, edX, Udemy, and
LinkedIn Learning, resources that can help us get better at what we do are at
our disposal, oftentimes at no cost.”
In addition to technical proficiency, there is a growing
recognition of the importance of soft skills in fintech careers. Mustapha
emphasised the need for skills such as communication, teamwork, project
management, innovation, and problem-solving, which are essential for career
advancement and fostering collaboration within diverse teams.
Ethical considerations are also taking centre stage in
Nigeria's fintech landscape, with professionals prioritising responsible
innovation and ethical decision-making. Mustapha says that, “by integrating
ethics into fintech-specific digital literacy initiatives, we can make informed
ethical decisions, thereby contributing to the conscientious progress of
emerging technologies in finance while considering their broader societal
implications.”
According to Mustapha, sustainability has emerged as a key
focus area within Nigeria's fintech sector. He said, “we must seek to acquire
expertise in green fintech, sustainable finance, eco-friendly technology
solutions, and waste reduction. In addition, understanding environmental
policies tailored to fintech, such as responsible investing and the development
of sustainable financial products, are instrumental in tackling sector-specific
challenges.”
As Nigeria's fintech workforce embraces upskilling amid the
technological revolution, the industry is poised for continued growth and
innovation. By prioritising continuous learning, ethical decision-making, and
sustainability, professionals are positioning themselves for success in the
dynamic landscape of fintech, contributing to Nigeria's economic development
and global competitiveness.
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