The Potential Impact of Africa’s Fintech Space

Africa’s fintech companies have raised $320 million in funding since January 2015 and the ecosystem has surged 60% in the last two years. The continent’s fintech firms have grown to 491 from 301 in 2017, while the $132.8 million raised in 2018 has been the sector’s best-ever year, according to the Finnovating for Africa 2019: Reimagining the African financial services landscape report. The annual report by Disrupt Africa has been tracking active fintech startups for the past four and a half years in 28 countries.   Last year 210 African tech startups raised $334.5 million, with Nigeria leading the investments in 2018 with 58 startups raising $94,9 millions, followed by South Africa with 40 businesses that raised $59,9 millions, and Kenya was third.SOURCE: FORBES AFRICA

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