The 2nd ABC Attorneys Annual Symposium 2022     

The 2^nd ABC Attorneys Annual Symposium   2022

On Intellectual Property, Innovation & Technology

 BUILD, CONNECT, INNOVATE: DIGITAL TRANSFORMATION AND THE LAW

Theme:

Achieving Agenda 2063: The Africa We Want.

“The Future of Fintech and other Digital Financial Services: Regulatory Compliance, Digital Transformation, Intellectual Property and AfCFTA opportunities for the Youth and Women in the Digital Economy of Tanzania.”

ABOUT THE CONVERNOR

ABC Initiatives is a non profit organisation established in TAnzania LIniing technology, innovation, Intellectual Property and law.

ABC Attorneys is a corporate and Commercial Law firm based in Dar es Salaam Tanzania with presence in Dodoma and Zanzibar We are praised as one of the leading Intellectual Property law firms in Tanzania.

We  a member of TAGLAW, a global alliance of high quality, law firms with 150 member firms based in over 90 countries with 9500+ lawyers in 300 offices and AMANI IP a network of Premier African Intellectual Property law firms.

ABC Attorneys is committed to driving innovation and delivering value to our clients. We work closely with you to provide the most sound and reliable solutions to your problem. Our firm leverages its skilled workforce and technology to provide premium legal services in Corporate, Commercial, Energy, Mining, Intellectual Property and TMT laws in Tanzania.

Background and justification:

Achieving Agenda 2063: The Africa We Want.

“The Future of Fintech and other Digital Financial Services: Regulatory Compliance, Digital Transformation, Intellectual Property and AfCFTA opportunities for the Youth and Women in the Digital Economy of Tanzania.”

Agenda 2063:

AGENDA 2063 is Africa’s blueprint and master plan for transforming Africa into the global powerhouse of the future. It is the continent’s strategic framework that aims to deliver on its goal for inclusive and sustainable development and is a concrete manifestation of the pan-African drive for unity, self-determination, freedom, progress and collective prosperity pursued under Pan-Africanism and African Renaissance The genesis of Agenda 2063 was the realization by African leaders that there was a need to refocus and reprioritize Africa’s agenda from the struggle against apartheid and the attainment of political independence for the continent which had been the focus of The Organization of African Unity (OAU), the precursor of the African Union; and instead to priorities inclusive social and economic development, continental and regional integration, democratic governance and peace and security amongst other issues aimed at repositioning Africa to becoming a dominant player in the global arena.

As an affirmation of their commitment to support Africa’s new path for attaining inclusive and sustainable economic growth and development African heads of state and government signed the 50th Anniversary Solemn Declaration during the Golden Jubilee celebrations of the formation of the OAU /AU in May 2013. The declaration marked the re-dedication of Africa towards the attainment of the Pan African Vision of an integrated, prosperous and peaceful Africa, driven by its own citizens, representing a dynamic force in the international arena and Agenda 2063 is the concrete manifestation of how the continent intends to achieve this vision within a 50-year period from 2013 to 2063.

The need to envision a long-term 50 year development trajectory for Africa is important as Africa needs to revise and adapt its development agenda due to ongoing structural transformations; increased peace and reduction in the number of conflicts; renewed economic growth and social progress; the need for people centered development, gender equality and youth empowerment; changing global contexts such as increased globalization and the ICT revolution; the increased unity of Africa which makes it a global power to be reckoned with and capable of rallying support around its own common agenda; and emerging development and investment opportunities in areas such as agri-business, infrastructure development, health and education as well as the value addition in African commodities.[1]

The AfCFTA (The African Continental Free Trade Area (AfCFTA):

The AfCFTA is one of the flagship projects of Agenda 2063: The Africa We Want. It is a high ambition trade agreement, with a comprehensive scope that includes critical areas of Africa’s economy, such as digital trade and investment protection, amongst other areas. By eliminating barriers to trade in Africa, the objective of the AfCFTA is to significantly boost intra-Africa trade, particularly trade in value-added production and trade across all sectors of Africa’s economy.[2]

So, what is the digital economy?

The digital economy is the economic activity that results from billions of everyday online connections among people, businesses, devices, data, and processes. It is one collective term for all economic transactions that occur on the internet. The backbone of the digital economy is hyperconnectivity which means growing interconnectedness of people, organizations, and machines that results from the Internet, mobile technology and the internet of things (IoT).[3] The digital economy is taking shape and undermining conventional notions about how businesses are structured; how firms interact; and how consumers obtain services, information, and goods.

Fintech:

According to UNCDF Tanzania, THE FINTECH START‑UP LANDSCAPE IN TANZANIA REPORT OF 2021, a fintech start-up is defined as a new entrant to the financial services industry that uses technology to enhance or automate financial services and processes. The report further identified further at page 9 that, “Fintech start-ups in the early stages provided some insights into the reasons why only a few fintech start-ups in Tanzania seem to make it to the growth stage. These include difficulties navigating the regulatory environment and establishing partnerships with banks, mobile network operators and other service providers”, the more reason to have this year’s symposium.

Fintech start-up distribution by funding:

Digital trade is rapidly growing, and Fintech services have become a powerful lever for growth and financial inclusion by providing large numbers of services to people excluded from basic financial services.

Of the 19 Fintech companies headquartered in Tanzania, 13 disclosed their total funding information or have it publicly available. Of those, only one (Jamii Insurance) has raised between US$1 million and US$10 million. Two have raised between US$100,000 and US$500,000, and the remaining 10 have raised less than US$99,000.Only 8 of the 14 fintech start-ups headquartered outside Tanzania disclosed their total funding. Of those, two have total funding below US$99,000, two have total funding between US$1 million and US$20 million, one has funding between US$21 million and US$100 million, and three have raised over US$100 million. Two of the three companies that have raised over US$100 million are pay-as-you-go lending/financing start-ups with operations outside Tanzania as well.[4]

The Event:

The ABC Attorneys Annual Symposium is the premier gathering of regulators, lawyers, innovation ecosystem builders, investors, corporates and government representatives to engage, collaborate and share knowledge around new technologies and practices that support better regulations. This year, the Symposium aims to bring together the brightest and most innovative minds in financial technology.

The symposium center around women and youth with startups leading in Fintech, Mobile Payments, and Digital Technology industries for two days of immersive learning and networking. It is the ultimate event for the next generation of lenders, loan providers, fintech, credit and capital allocators who are powering the future of lending.

It is where the payments, fintech, and financial Services ecosystems unite. It’s a large gathering that will bring together hundreds of attendees to network and learn from hundreds of well-known speakers.

This year’s ABC Annual Symposium goal is to build the discussion around the future of technology in financial services in Tanzania and discuss on the laws so as to bring about much needed regulatory and policy changes. The event is centered around the law and the trends in the development of technology in the financial, banking and insurance sectors and the who, how and what drives the industries in the economy growth of Tanzania and the region. The Symposium broader objective is to enhance the quality of and strengthen the digital ecosystem.

We believe that the Symposium will bring discussions that will ultimately results in policy and law change to accommodate the Fintech space and bring about the achievement of Agenda 2063. The achievement of the goals will be a great elevation for the youth and women especially on the fintech and Digital Finance Services space.

Key areas focused:

Anti-Money Laundering

Artificial Intelligence

Blockchain & Metaverse

Customer Experience

Data Protection & Privacy

Digital Banking

Digital Transformation

Fintech, Insuretech, Agritech & Others

Funding

Payment Gateways

Regulatory Changes

Trade

The ten principles encourage stakeholders to:

1. think broadly about the financial ecosystem;
2. start with the consumer in mind;
3. promote safe financial inclusion and financial health;
4. recognize and overcome potential technological bias;
5. maximize transparency;
6. strive for interoperability and harmonize technical standards;
7. build in cybersecurity, data security, and privacy protections from the start;
8. increase efficiency and effectiveness in financial infrastructure;
9. protect financial stability; and
10. continue and strengthen cross-sector engagement

Why you should attend:

If the thought of joining 100+ other fintech enthusiasts as they learn from highly sought-after speakers from well-known companies on topics like funding startups, open banking, money transfer, NFTs, blockchain, cryptocurrency, data protection, privacy, Anti money Laundering, Digital Human rights, Law and more, sounds like fun, then ABC 2^nd Annual Symposium is the perfect event for you.

You will be able to:

• Forge Relationships Between FinTech Founders & Bank Innovators
• Maximize Opportunities for Partnering
• Engage Global Regulators in Person
• Highlight Your Firm’s Thought Leadership

Hear from those forging new trails in payments, blockchain, lending, wealth, insurtech, real estate, and more. In addition to attracting hundreds of entrepreneurs, this ABC Annual Symposium on FinTech also plays host to the investors and service providers that help accelerate startups.

Objectives:

The Objective of this conference is to achieve the following.

1. Sensitizing policy makers, creators and entrepreneurs about Fintech eco system linking it with the intellectual property Laws, Privacy Laws, Technology law, their impacts to the agenda 2063 and opportunities available for Youths and Women involved in Startups.
2. Influencing the Regulatory and policy changes in the Financial Technology Space and the 4^th Industrial Revolution(4IR) through interaction with both the public and private sector.
3. Promoting Women and Youth on the importance the commercialization of intellectual property
4. Setting intellectual property as the driver for innovation in the 4^th Industrial Revolution.
5. Discussing aspects of Women, Youth Startups and the 4IR involvement in drone technology, big data, Internet of things and Artificial Intelligence.

Format of the symposium

The symposium shall have panels of speakers, sessions, presentations and speeches by leading leaders and players in the innovation Sector in Tanzania, academics, regulators and policy makers/business actors, opinion leaders and development partner organizations; comparatively applying key 4^th Industrial Revolution characteristics in emerging and existing technologies in Tanzania to the existing law in an effort to adopt better practices for FinTechs.

The plenary sessions will allow different makers and creators, the government, startups, academics, and other relevant sectors to discuss key issues, giving informed opinions on the distinguishing characteristics of the 4^th Industrial Revolution, the justifications and processes of enhancing innovation for social eco- nomic transformation.

The Symposium convenor shall host an exhibition of inventors, startups, banks, telcos, creators in arts, metal works and fabrications, music, and photography. The exhibition shall provide an opportunity for them to market their products and create links for funding opportunities.

Speeches and presentations shall be in- depth analyses into what the Fintech and 4IR is, its distinctiveness from other revolutions, its application to existing and emerging technologies in different sectors like arts, metal works and fabrications, music, film, photography, fashion, and electronics, among others.

The Symposium will be streamed live though all the digital platforms and we shall establish a call Centre where participants may dial in and contribute / or ask questions.

The symposium will also be hosted physically, Tanzania with strict observance of Covid-19 Standard operating procedures.

With an expansive line-up of over 50 inspiring speakers from East Africa, the two-day event will provide the perfect platform for discussion with the power to influence change. The Symposium comes at such a pivotal time when the world is slowly recovering from the impact of the pandemic which significantly sped up digitization, making it a priority for regulators and operators to rethink and adapt to new strategies.

We shall also have break out session of trainings for start ups and artist which we believe is key for them in understanding from how to run a business to the laws that impacts their ventures and how to comply so at to contribute to the country development goals.

The event will end showcasing selected, Female tech startups, innovators creatives and entrepreneurs who will receive special recognition from our panel of experts for their outstanding achievement.

Topics

13. Fintech ecosystem: opportunities and challenges for startups in Tanzania
14. Technology and innovations in banking: how financial technology complements the banking industry
15. The importance of royalties collection, artist rights, intellectual property in the digital and technological era
16. Fintech and the automation of the taxi business: how technology has redefined the taxi industry and the future of transportation in Tanzania? A need for regulatory reforms?
17. Barriers for women in tech: what is holding women back?
18. The impact of fintech to healthcare and the economic development in Tanzania funding for fintechs startups in Tanzania: patterns and drivers
19. Agritech and insurtech revolution: opportunities for women, youth and SMEs in Tanzania
20. Fintech data protection and privacy: principles for digital threats
21. Fintech, human rights and digital rights litigation: protecting human rights, equality in the age of ai
22. Mobile money services in Tanzania – current trends, impacts, taxation, regulatory issues and future prospects.
23. Anti-money laundering (AML) and know your client (KYC) in fintech and digital payments: the latest trends, tools, technologies and industry best practices
24. LegalTech, fintech and artificial intelligence: are Tanzanian lawyers ready to adopt?
25. The metaverse, NFT, blockchain, crypto, the AfCFTA protocol on intellectual property rights (IPR) and the enabling legal and regulatory framework
26. The role of fintech in the African continental free trade agreement (AfCFTA) and the enhancement of trade between Tanzania and other African countries.

Confirmed Date: Friday 2^nd of December 2022 and Saturday 3^rd of December 2022.

Download the concept note here : ABC 2ND ANNUAL SYMPOSIUM CONCEPT NOTE

[1] https://au.int/en/agenda2063/overview

[2] https://au-afcfta.org/

[3] https://www2.deloitte.com › pages › technology › articles

[4] UNCDF Tanzania, THE FINTECH START‑UP LANDSCAPE IN TANZANIA REPORT OF 2021, PG20.