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With financial inclusion in mind, governments are taking notice and offering more supportive regulatory frameworks, ever further assuring that the African fintech industry growth rivals that of more mature markets, the likes of Vietnam, Indonesia, and India.
Despite the high potential seen in East Africa, with countries like Kenya standing out, South Africa still commands approximately 40 per cent of the industry revenues.
On the western part of the continent, too, in places like Ghana, growth is at 15 per cent per annum and will only get higher all through 2025. Then you have the larger economies coming in; Nigeria and Egypt are both expected to enjoy annual growth rates of 12 per cent over the same period.
While growth rates at this early stages are higher in less developed East African countries, economies with more mature financial systems and digital infrastructure, the likes of South Africa stand a greater chance of executing more innovation in the fintech industry and implementing security measures such as regulatory technology including anti-money laundering.
A new report by Kaspersky has revealed that from January to September 2022, computers in…
The Bwefum ICT Community Centre is one of 11 ICT hubs, which the union government through the Universal Communication Service Access Fund (UCSAF) has constructed in Unguja and Pemba along with supporting the construction of 42 other communication towers across the islands.
These towers improve ICT across the island and as a result it means improved interconnectivity between businesses, government authorities and the general public.
President Mwinyi emphasized that inter-connectivity will help improve social services. For example, when it comes to healthcare provision, ICT is vital in communication between service providers allowing for the transfer of patient and staff info seamlessly in the shortest time possible.
Kenya’s Safaricom has launched 5G Wi-fi, more than a year after it announced it was…
Mastercard has released a new study that indicates that fintech startups in Africa grew 81…
5G-related activities are picking up across the Sub-Saharan Africa region, including 5G spectrum auctions, 5G…
