Transformation journey by Aloi and FAN with NBA and UNCDF Explores Fintech's impact on MSME Financial Access in Nepal

KATHMANDU: An event titled "Fintech's Contribution to Enhancing Financial Access for MSMEs," hosted at Hotel Himalaya in Pulchowk, Kathmandu, was hailed as a remarkable achievement, signifying a major step forward in tackling the vital matter of financial inclusion for Micro, Small, and Medium Enterprises (MSMEs) in Nepal.

Conducted by Aloi in partnership with the Fintech Alliance Nepal (FAN), the Nepal Bankers Association (NBA), and the United Nations Capital Development Fund (UNCDF), the event featured engaging discussions, exchange of insights, and the formation of strategic partnerships focused on leveraging financial technology (Fintech) to empower MSMEs and stimulate economic development.

Key moments of the event featured the introductory address by Saroj Nepal, Country Relationship Manager at UNCDF, and informative presentations by Tiffany Tong, CEO of Aloi Global, focusing on worldwide trends in productive lending and the influence of climate finance. Compelling success narratives shared by MSME delegates from various sectors highlighted the impact of financial access. Additionally, a panel discussion, facilitated by Sanjib Subba, Founding Chair of Fintech Alliance Nepal, assembled esteemed panellists to discuss approaches for maximizing Fintech's role in bolstering MSME funding.

The event wrapped up with concluding statements from Laxmi Prasad Prasai, Director of the PSD Department at Nepal Rastra Bank, and Kapil Gautam, representing the Nepal Bankers' Association, reaffirming the commitment of all stakeholders to drive positive change and foster an inclusive financial ecosystem for MSMEs in Nepal.

The collective endeavours and mutual dedication exhibited by all participants highlight the significant potential for Fintech to serve as a cornerstone in promoting financial inclusion and empowering MSMEs.