There are over 300 FinTech startups active in Africa, according to a report published this week by Disrupt Africa.
“Finnovating for Africa: Exploring the African Fintech Ecosystem Report 2017” compiled data collected over two and a half years. It looks at the current FinTech landscape in the continent, referring to startup launches and activity; spread and growth by region; funding and acquisitions; and accelerator programmes and related financial institutions.
The report puts South Africa, Nigeria and Kenya at the forefront of many areas of FinTech, including startups, and cites the payments and remittances market as the most popular focus area. A new trend revealed by the data is that blockchain initiatives have been successful in securing external funding, with nearly 39% of the continent’s blockchain startups successfully obtaining funding since early 2015. The continent’s FinTech startups have secured investments of 92,679,000 US dollars since the FinTech startup boom began “in earnest” in 2015.
The existence of such a report, along with the FinTech Academy that took place in South Africa earlier this year and the Alternative Finance Benchmarking Report that was published in February, highlight the role that the continent of Africa is playing in the FinTech field.
We began a partnership with Khonology at the end of 2016, to establish a relationship what would help incorporate FinTech products into the African market.
The full report is available on the Disrupt Africa website for a fee.
Contact our South African team if you would like more information about launching a P2P, P2B or crowdfunding platform in Africa.