Incumbents, investors unite for Africa’s fintech to thrive.

January 26, 2024
1 min read

TLDR: Financial services incumbents and venture capitalists are playing leading roles in supporting Africa’s growing fintech sector, but startups still need more from a regulatory point of view to make scaling easier. Fintechs are also not encumbered by legacy technology. “It’s very difficult to make things go fast in a bank because they have deeply complex legacy systems that have been contorted and distorted over time. Now we are starting to see increasing collaboration between banks and startups, which follows a global trend. Challenges around working with incumbents are, then, starting to be overcome. But what other issues remain when it comes to scaling fintech on the continent?

Latest from Blog

McDonald’s hit by worldwide tech glitch.

McDonald’s Tech Outage Summary TLDR: McDonald’s experienced a global tech outage leading to restaurant closures The outage was due to a “system failure” and not cybersecurity issues Fast food giant McDonald’s faced