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

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?