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Top 4 African Markets by Overall Funding VS Fintech Funding Over the Past 5 Years
Fintech funding constitutes a significant portion of the VC funding going into Africa.
For Nigeria, the largest and fastest growing tech and fintech market in Africa, 67% of all VC funding in the past 5 years went to Fintech startups.
Nearly half (45%) of all VC funding in the past 5 years in South Africa went to Fintechs, and in Egypt, it is just over 1/3rd. Egypt had the most number of VC deals inked in the past 5 years, though only 12% of these were inked with fintechs.
This tells us that Egyptian fintechs have the largest funding rounds.
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.
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