Browsing: Fintechs in Africa

• One of the most important ways a fintech can listen to its customers is to gauge how they engage with its products.
• Having a deep understanding of customer needs results in innovative solutions.

All around the world businesses are pulling out the stops to achieve growth in what can best be described as challenging economic conditions. Africa is no exception. The continent has long been recognised for its immense potential, and as such businesses across sectors are investing heavily into the continent.

Advancements in technology make serving the unbanked and underserved populations in Africa more viable than ever before. However, that does not mean growth comes easily. It is a hyper competitive and complex environment where genuinely understanding your customer is key to growth.

Even with this textbook understanding, there is a strong urge to take the “build it and they will come” approach because we can get caught up …

• Mastercard has released a new study that indicates that fintech startups in Africa grew 81 per cent in 2021, with South Africa, Nigeria, and Kenya emerging as key hubs on the continent
• The report also found that the fintech sector accounted for 27 per cent of the record-high number of deals closed and 61 per cent of the US$2.7 billion deployed across Africa in 2021
• The three countries were also seen as among the countries leading the transition to digital payments, with infrastructure and policy frameworks that enable this growth firmly in place

Mastercard has released a new study that indicates that fintech startups in Africa grew 81 per cent in 2021, with South Africa, Nigeria, and Kenya emerging as key hubs on the continent. The white paper was seeking to determine the state of fintech in African markets.

Titled ‘The Future of Fintech: Rapid Growth Attracts Smart Capital’, the …

Transsion holdings, the makers of Techno, Infinix and Itel mobile phones has partnered with Wapi Capital, an African  fintech company that is investing and creating solutions in financial services, to find and fund fintech startups under the program Transsion Future Hub.

The Chinese company which is also the largest mobile phone manufacturers and distributors in Africa will use the program to seek and pinpoint innovative African fintech startups from all around the continent to provide funding as well as access to new markets.

On the other hand, Wapi Capital an alumni of Nairobi Garage will take the lead in the identification of early stage fintech (Financial Technology) businesses for the purposes of partnership, providing capital, mentorship and other support to these businesses.

The move by the two parties has been advised by Africa’s growing information technology sector that has been growing at an average of 10-20 percent in various countries …