The African fintech sector has experienced significant growth, with over 5,200 tech startups categorized as fintechs.
Between 2021 and 2023, African fintechs attracted $2.7 billion in venture capital, despite a global slowdown in tech funding.
Nigeria, South Africa, Kenya, and Egypt are the main players in the African fintech landscape, accounting for most of the continent's fintech companies and funding.
The future of fintech in Africa looks promising, with projections estimating a 10% annual growth rate in the financial services market and revenues reaching $230 billion by 2025.