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3 August 2018

FinTech is Getting Universal in Africa—Meet the Leaders

Apps, platforms, websites, and more tools that will be available for all in the coming years.

Traditional financial methods have ruled the world since the origins of the banking industry in Assyria and Babylonia around 2000 BC. Many technological advancements throughout history were crucial for the expansion of these institutions all over the globe; computers, digital networks, software and so much more. Right now, FinTech (Financial Technology) seems to be the next big thing, disrupting conventionalities and re-shaping our world as we know it.

Growing annually like no other, the African continent is fostering these innovations in order to make financial services universally accessible. With a lower regulation by national governments, blockchain acceptance and a better internet connection, FinTech startups have a big opportunity to succeed in this region.

More than $100 million were invested on FinTech and mobile payment services this year in Africa, and we are just starting August. Extraordinary demand for flexible financial services is getting bigger in these countries, attracting investors from different parts of the world.

The most famous names in the African FinTech sector

  • MaTontine, savings platform with an internal credit-scoring system.
  • InTouch, payment options platform for merchants and consumers.
  • SudPay, company that offers digital ticketing and tax solutions.
  • PayDunya, startup that gives individuals the opportunity to access financial services without the need of a bank account.
  • VoLo, credit information provider for small and large institutions.

Venture capitalists do not take these chances for granted, and are speaking loudly against bureaucracy within African governments, various conferences addressing all these issues and future goals will take place this year, the clearest example being the TMT Finance Africa on September 19, 2018 in London.

International Investor Magazine is an online publication that provides insights, news and visual informative pieces with topics ranging from world markets, investing opportunities, industry analysis and so much more. All content is dedicated to the global investment community that wants to take a step ahead.

Fintech, Investment, Technology