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A Sample of the IFC’s Fintech Investments in Africa
According to a report by Disrupt Africa, there were over 400 fintech startups in Africa as of 2020, with total funding of over $1.3 billion.
As of 2022, Lucidity Insights research has identified over 270 fintech “scaleups”, which are defined as startups that have each raised a minimum of US $1 million.
IFC has been at the forefront of fintech in this region, providing funding and support to some of the most promising fintech startups in Africa.
Related Report
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The Future of Fintech in Africa
Eighteen percent of the world’s population lives in Africa, and 57% of Africans are ‘unbanked’, without a bank account or a digital wallet. This presents a massive opportunity, making fintech the most dominant and funded tech sector in Africa today. This special report highlights how African fintechs not only have one of the largest total addressable markets globally but are also crucial for achieving financial inclusion and empowering unbanked populations. The potential impact of a successful fintech in Africa is unparalleled. To learn more about the drivers, barriers, and opportunities in African fintech, as well as progress toward financial inclusion, read the special report.
