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Evolution of Mobile Internet Connectivity in Sub-Saharan Africa
Though there are many driving forces at work to propel the fintech ecosystem forward across the African continent, there still remains many barriers and systemic challenges to mass adoption of fintech and the successful achievement of financial inclusion.
One of the main challenges is the lack of infrastructure and access to reliable internet connectivity in many parts of the continent.
Despite strong mobile phone penetration, many of these mobile phone owners do not have steady enough incomes to afford data subscriptions.
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.
