Here Are the 10 Graphs That Will Help Explain the Fintech Opportunity and Challenge in Africa
Africa has 1.4 billion people living on the continent, or 18% of the world’s population. Today, 90% of transactions in Africa use cash. It is also estimated that approximately 57% of Africans do not hold any kind of bank account, including mobile wallets. The opportunity, particularly for Fintechs, is massive.
The Power of Fintech in Africa
Fintech isn’t just about convenience and delivering a smarter, cost-effective solution to consumers here like in the rest of the world; instead, inherent to the market realities in Africa, Fintech presents an opportunity to reach hundreds of millions of unbanked and underserved people. Fintechs have the opportunity to achieve mass financial inclusion and take steps towards lifting anoth