Recently, Disrupt Africa published a report that confirms Africa is still a hotbed for fintech. The sector has expanded by almost 20 percent in size and attracted an estimated $5.2 billion in investments in 2022, more than double the amount in 2021. The report identifies three new fintech markets that have emerged for the first time: Burkina Faso, Lesotho, and Namibia. These countries have seen the launch of new fintech startups that are addressing local challenges and opportunities. It also demonstrates how fintech is empowering people and businesses in developing countries and creating new opportunities for economic growth and inclusion. It is part of the larger trend of growth and investment in the African tech industry. Despite a slowdown in funding in line with global trends, significant growth and value creation are expected to lie ahead for the fintech industry in Africa. As the industry continues to mature and diversify, we can expect to see more new markets emerge across the continent.
First-timers in Africa’s Fintech Ecosystem
- AFRICA TOP 10
- 1 min read