African fintech start-up scene thriving, but crypto in decline

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The African fintech start-up ecosystem saw $2.7-billion in investment in the past 24 months, researchers have found.

South Africa News, South Africa Headlines

ecosystem grew in size by almost 20% and saw US$2.7-billion (about R51-billion) in investment flood in over the last 24 months, according to a new report released by Disrupt Africa.has released the Finnovating for Africa publication, which tracks the extraordinary development of the fintech ecosystem across Africa in recent years.

Meanwhile, not only are African fintech start-ups more likely to raise funding than their peers, they are also more likely to be acquired. Disrupt Africa tracked 26 fintech start-up acquisitions between June 2021 and July 2023, compared to just seven between 2019 and 2021, and accounting for over 60% of the 43 such deals reported since 2011. This should serve to embolden both investors and entrepreneurs in the sector, as exits are the name of the game.

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