6 Graphs That You Need to Know about the Fintech Market Landscape in Africa

By Erika Masako Welch, 02 June 2023
Fintech in Africa

Fintech Dominance in Africa

Fintech is the dominant sub-sector in Africa’s technology sector, both in terms of the number of startups and scaleups formed, as well as the amount of investment raised. According to a report by Disrupt Africa, fintech accounted for 31.4% of all African tech startups in 2020, making it the largest sector by far. Lucidity Insights research found that in 2020, that number is largely unchanged amongst scaleups – with 30% of all African scaleups who have fundraised over US $1 million, representing the fintech industry. The dominance is expected to continue, with the potential for fintech to drive financial inclusion and economic growth across the continent. 

In this article, explor

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Future of Fintech in Africa

The Future of Fintech in Africa

18% of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, living without a bank account or a digital wallet to their Name. The opportunity is massive, which is why fintech is the most dominant and most funded tech sector in Africa, today.