Africa’s fintech space has grown exponentially in recent years, establishing itself as a leader within the broader African startup ecosystem when it comes to both funding and exit activity.
Over $2.7 billion has flooded into the fintech ecosystem in the last 24 months, according to a recent report by Disrupt Africa.
The vast majority of fintech funding in Africa goes to the “big four” startup ecosystems, with Nigeria, South Africa, Egypt and Kenya swallowing up 91.2 per cent of investment. However, this marginally decreased in 2021, when they shared 93% of funding.
Nigeria is by far the leader when it comes to fintech investment in Africa. Since January 2015, over $1.5 billion has been invested in the country across 257 rounds, far more than anywhere else.
Source: Business Insider
