Tag Archives: fintech

fintech: Latest News

  • African Fintech Startups Have Secured $92M In Investment Since 2015

    African fintech startups are thriving throughout the continent. Photo: Mastercard By Peter Pedroncelli, 5:32 am

    African fintech startups continue to be an example to similar entities in other sectors, attracting substantial investment while disrupting the financial services market on the continent. The innovative solutions that fintech enterprises are producing have attracted the attention of banks and investors, in the hope that these financial disruptors become the next PayPal or similar concept in Africa. The last two years have seen a sharp increase in the number of businesses created in this sector, with 301 African fintech startups identified across 20 countries on the continent.

  • African Financial Services In 2017: Buying Low For The Upside

    African financial services By Kurt Davis Jr., 5:03 pm AFKI Original

    The story line in 2017 is buy undervalued assets, especially those with massive upside — no surprise. The surprise, however, may be looking for that opportunity in the Democratic Republic of the Congo. Kabila is still in power despite his term of office ending. Mineral prices have been low and hurt local mining companies. Budget cuts are a big topic in local politics. The DRC, like one or two other countries on this list, is worrisome on the surface. But there are opportunities in the government’s desire to strengthen private-sector investment.

  • Why African Banks Are Partnering With Fintech Startup Entrepreneurs

    fintech startup entrepreneurs By Tom Jackson, 12:36 pm AFKI Original

    Across Africa, banks are choosing to work with startups rather than compete against them. Citibank has run mobile challenges in Nairobi, Standard Bank has incubators in South Africa, and Barclays has just selected its second cohort in its Cape Town-based accelerator. Fintech startups are reimagining the concept, delivery and consumption of financial services in ways banks have been unable. However, such companies lack the financial clout and access to customers to ensure mass uptake of their solutions. Banks can offer them this.

  • How African Tech Firms Export Their Innovations: It’s All About Storytelling

    How African tech firms export their innovations By Tom Jackson, 12:55 pm AFKI Original

    U.S. firms are suspicious of non-homegrown products, whereas Germany had a more positive view of Africa, says a South African fintech manager. “No technology product, no matter how cool, sells itself,” she said. The CEO of an African blockchain startup hopes to start doing business in Hollywood and Bollywood. He encourages new startups expanding internationally to “develop the narrative around their product, unique value proposition, back story, and successes.”

  • African Fintech Startups Received Most Investment Funding Of All Sectors In 2016

    African fintech startups By Dana Sanchez, 1:55 pm

    The African tech space is not immune to the economic pressures faced by other sectors, but it is proving resilient. Significantly more African tech startups raised funding in 2016 than the previous year, but the overall amount of recorded funds declined, according to a new report. Fintech startups were the winning sector, receiving the most investor funding in Africa in 2016. The economic downturn played a part in that. Fintech in Africa is different, a stakeholder said. It’s building new infrastructure rather than disrupting an existing one.

  • New Year’s Resolution: Investing In African Healthcare And Fitness

    investing in African healthcare By Kurt Davis Jr., 7:57 am AFKI Original

    In cities from Victoria Island in Lagos, Nigeria to Maputo, Mozambique, gym memberships can be above $100 per month. Africans are paying higher fees than in more mature markets. Zumba classes are abundant, yoga is everywhere, and biking and running are an ever-growing trend in Africa. Putting cash into the facilities for these types of activities is lucrative. Scalability is still a concern but branding across borders and within regions is necessary for growth.

  • 5 Things To Expect From African Tech In 2017

    By Tom Jackson, 4:42 am AFKI Original

    Another year, another milestone for the African technology space. With things developing at a rapid pace, it is hard to predict what will be the next big innovation in this exciting sector. Let’s have a go, in any case. Drones seem to have been a topic of discussion for a long time, yet in Africa we haven’t seen much of them. That is probably about to change. The continent is no longer deemed a risky place to do business, but rather digital’s “final frontier”.

  • Can New Financial Technology Help South African Banks Manage Rising Bad Debt?

    South African banks manage rising bad debt By Dana Sanchez, 1:36 pm

    In future, insurers, asset managers and banks are likely to benefit from the innovation revolution taking place in financial technology, which is creating new means of distribution. Partnerships will be key in reaching new customers, especially in parts of Africa where insurance premiums are being built into mobile subscriptions. “For insurers, the need to drive the distribution model and mobile platforms can fundamentally help,” an EY leader says.

  • Bye-Bye Brick And Mortar: Sub-Saharan African Markets With The Most Fintech Opportunities

    fintech opportunities By Kurt Davis Jr., 3:41 pm AFKI Original

    Sub-Saharan African banks are late to the party. More than 75% of Africans lack access to traditional banking. Fintech offerings with the most potential are the ones that address the unbanked and underserved. Addressing Africa’s poor is impactful and a money maker, but it’s also time-consuming — something to consider if you want a quick return. Africans may be quick to try a mobile app or technology but end users are not always quick adopters. Here are five sub-Saharan markets with the most opportunities in fintech.

  • Will Other Banks Follow Barclays Africa’s Pioneering Blockchain Trade Transaction?

    Barclays Africa's pioneering blockchain By Dana Sanchez, 3:55 pm

    Barclays Africa and an Israeli fintech startup recently completed the first global trade transaction using blockchain technology. They want other banks to adopt the process, which they say saves time and money. Banks are rushing to adopt blockchain, but unprecedented transparency sits uneasily. They have to make drastic changes to force the radical technology to fit the norms of the banking world. Barclays Africa has sought to be a leader. “Research and development happening in this space … is a collective collaboration,” Barclays told AFKInsider.

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