Governance & Economic Transformation, a conversation with former VP H.E. Mahamudu Bawumia

Building a fintech company that reshapes how money moves across Africa—and beyond—is no easy feat. The challenges go far beyond the headlines. Few succeed in this market. To scale, you need more than a great idea—you need resilience, sacrifice, and relentless determination.

How do you convince Silicon Valley investors to back an African startup? What does it take to challenge the status quo in the global financial system? And what are the real, behind-the-scenes battles of building something that truly lasts?

Benjamin Fernandes, Founder & CEO of NALA, has lived it all—and he’s here to tell the unfiltered truth.

Born and raised in Tanzania, Benjamin first made his mark as a national television personality. But he had bigger ambitions. Earning scholarships that took him to the U.S., he became the youngest African ever admitted to the MBA program at Stanford Graduate School of Business. Yet instead of climbing the corporate ladder or staying in Silicon Valley, he took the harder road—building a company that would transform how Africans send and receive money across borders.

That company is NALA. What started as a simple remittance app has grown into one of Africa’s most ambitious fintech ventures. Today, NALA powers seamless, low-cost payments from the U.S. and Europe into Africa, cutting through the inefficiencies of the global financial system. Now, with a $40 million oversubscribed Series A funding round, and a Forbes cover story to match, NALA is expanding beyond remittances—building its own payment rails, launching a B2B platform (Rafiki), and setting its sights on global markets, including Asia and Latin America.

In this rare, behind-the-scenes conversation, Benjamin will pull back the curtain on the real journey—the wins, the losses, the breakthroughs, and the breakdowns. No filters. No fluff. Just the raw truth of what it takes to build and scale a fintech company in Africa.

If you’re an entrepreneur, investor, or believer in bold ideas and Africa’s unstoppable rise, you won’t want to miss this.

Come for the insights. Stay for the inspiration.

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Africa faces significant challenges in education access, delivery, and quality, spanning from elementary to tertiary levels. These issues undermine the continent's ability to prepare its youth for a rapidly changing labor market and emerging industries. 98 million children and adolescents in sub-Saharan Africa are out of school.. On the delivery side, ~17 million additional teachers are needed to achieve universal primary and secondary education by 2030. The Fourth Industrial Revolution demands skills such as coding, AI, and digital literacy, which are often absent from traditional curricula. Local economies, unable to meet these demands, rely heavily on foreign talent for high-skilled jobs—highlighting deficiencies in the domestic education system and the urgent need for innovative approaches to address these gaps. This panel discussion seeks to explore how regional partnerships and innovative education models, particularly in STEM, can tackle these challenges, equip African youth with future-ready skills, and drive sustainable economic growth on the continent

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This panel examines the impact of foreign financing on Africa's development, focusing on whether these cross-border investments are essential drivers of economic growth or if they risk fostering dependency and undermining sovereignty. Discussions will explore how foreign financing has shaped African economies over the past decade and what expectations lie ahead for the future. Key questions include: Are the structures of current financing agreements sustainable and beneficial for African nations? Do countries have the capacity to refinance debts? Most importantly, what does this mean for future generations, particularly in balancing opportunities for growth with the burden of long-term debt?

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