FinTech discussed between Lithuania and South Africa
On 12 May, Embassy of the Republic of Lithuania to the Republic of South Africa organized the first online meeting between Lithuanian and South African financial institutions. Representatives of the Ministry of Finance of Lithuania, the Bank of Lithuania as well as the National Treasury of South Africa, the South Africa Reserve Bank and the Financial Sector Conduct Authority shared information on FinTech policy, regulatory environment and FinTech ecosystems. Experts discussed the main achievements of both countries in the area as well as challenges faced by institutions to facilitate innovation while managing the risks.
In his welcome address, the Lithuanian Ambassador to South Africa Mr. Dainius Junevičius emphasized that Lithuania and South Africa, being leaders in the European and African continents in the field of financial technologies, could gain a lot by sharing information and good practices, creating a favorable and attractive regulatory and business environment for innovative financial technology companies.
Lithuanian Deputy Minister of Finance Ms. Vaida Česnulevičiūtė noted that the bilateral meeting provided a good platform for the institutions of the two countries to get to know each other better and exchange knowledge and experience with the objective of improving regulatory and business environment in Lithuania and South Africa.
Beyond bilateral issues, Mr Marius Jurgilas, Member of the Board of the Bank of Lithuania, called for joint efforts to find ways to create a global regulatory environment and an ecosystem for financial technologies, so that businesses can operate flexibly and efficiently in any country in the world.
In closing, Ambassador Junevičius noted that the institutional dialogue will encourage business relations, and assured that the Embassy is ready to assist Lithuanian companies interested in the South African financial technology market.
