What makes Africa so attractive for fintech entrepreneurs and investors? African startups have attracted a record amount of fundings over in 2019 and it is bound to continue.
How is fintech affecting financial inclusion in a continent where the majority is unbanked?

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The African Continent accounts for 58% of the world’s electronic wallets
40%: Share of fintech investment out of total funding received by African startups in 2018
In November 2019, 3 fintech: Interswitch, OPay et PalmPay raised 360 million dollars

Ther are 5 elements that make Africa fertile ground for fintech startups?

1. It is about building not disrupting
28% of adults in the African continent have a bank account. making hard to save, or access economic opportunities
Fintech is building up an underdeveloped industry
2. Mobile penetration
80% have a mobile
in Kenya financial inclusion was 27% in 2006. Thanks to the launch of M-Pesa, a mobile money service, today financial inclusion stands at 83%.
3.Local startup ecosystems
’Africa eXellerator Lab; Digital Lenders Association of Kenya
South Africa Reserve Bank has set up a Financial Technology Program to support fintech
4.Global investors
A majority of Chinese investors as well as global payments giants since 2018.
5.Loose Regulation
For now… but things are about to change

SOURCE
https://qz.com/africa/1751701/everything-you-need-to-know-about-african-fintech/
https://www.agefi.fr/fintech/actualites/etude-texte-reference/20200106/fintech-africaines-ont-vent-en-poupe-290194?utm_source=newsletter&utm_medium=etudes&utm
https://www.forbes.com/sites/madhvimavadiya/2019/11/30/african-fintech-and-regulation-whats-the-hold-up/#30ee749c2f19//
https://www.worldbank.org/en/news/press-release/2018/04/19/financial-inclusion-on-the-rise-but-gaps-remain-global-findex-database-shows

ABOUT
FintechOrama is about exploring and celebrating the Fintech world in a visual way
In Ancient Greek ‘orama’ means ‘sight’ or ‘spectacle’. We plan to make the world of finance a meaningful spectacle by debunking the myths, interviewing the experts, discovering the rising stars, and finding purpose. http://orama.tv

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https://www.quora.com/profile/George-Aliferis
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DISCLOSURE
The views and opinions expressed herein are those of the speakers as of the date of publication, are subject to change without notice as economic and market conditions dictate. Factual information has been obtained from sources we believe to be reliable, but its accuracy, completeness, or interpretation cannot be guaranteed.
This video has been provided for informational purposes only and should not be considered as investment advice or a recommendation of any particular strategy or investment product, or as an offer to buy or sell any securities or related financial instruments in any jurisdiction. Any investment or strategy mentioned herein may not be suitable for every investor.
Past performance is not indicative of future results.

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