Fintech

A few years ago, Safaricom introduced M-PESA 1Tap in Kenya, a service that was supposed to revolutionize payments. Unfortunately, despite it reducing the number of steps taken to make a payment, it failed.

The World Bank Global Findex shows that 60% of the population in Africa don’t have a bank account. Here is a list of 5 Fintech startups to watch in Africa.

We could all pick a page from Stripe’s playbook. I hope to see more African companies regardless of their stage, become more intentional about developing and improving the markets in which they operate.

Nigerian payments company, Paystack has been acquired by global payments leader, Stripe, to accelerate online commerce across Africa. This acquisition is the latest move in Stripe’s international expansion, as Paystack will be Stripe’s catalyst for growing internet commerce in Africa.

We talk of new generation fintech as driving financial inclusion by making it easier and cheaper to transact or move value, but we must take a step back and realize that with all that activity and growth, your data remains locked up with each service provider.

Cash becomes a preferred option as compared to Fintech services when access to these Fintech services is costly or is suddenly not available at a time of need.

Open Banking Fintech startup, truID, has received an undisclosed sum of investment from South Africa's Crossfin Ventures. The South African Fintech startup has indicated that it is looking to use the funding received from Crossfin Ventures to scale its operations and look for synergies.