African fintech market set for explosive growth
News Source : Finextra
News Summary
- In 2024, fintech revenues grew by 21%—up from 13% in 2023.
- Fintechs serving the needs of un- and underbanked consumers through mobile, which is seeing rapid growth in penetration, have gained the most momentum here.
- Telcos have formed some of the most successful fintTech platforms, such as M-PESA and Orange Money.
- The primary finttech verticals fuelling this growth are payments, banking and deposits, and lending.
Global fintech is entering a new era of maturity and momentum. According to a new report from Boston Consulting Group (BCG) and QED Investors, Fintechs Next Chapter Scaled Winners and Emerging Disru [+10210 chars]
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