FinTech space is fast growing in Africa. The continent has recorded massive growth in the last decade. Currently Africa has more than 400 FinTech companies and startups of which more than 80% of them are home-grown. The industry is largely dominated by payment, lending, insurance and investments focused solutions.
The growth is attributed to mobile access and penetration in the continent and lack of financial inclusion to traditional banking leaving majority (Approximately 60%) of the African adult population unbanked.
In Kenya, M-Pesa mobile money service provided by Kenya’s biggest telecommunication company Safaricom PLC has been a massive success in providing mobile payment solutions allowing users to pay bills, send money to each ot
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