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ARTICLE · 26 FEBRUARY 2021

Fintech: Advancing Economies In Africa

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In our previous Africa-focussed article we looked at the development of free trade on the African continent now underpinned by The African Continental Free Trade Agreement (AfCFTA)...

GlobalTechnology
Mark Brady
Mark Brady
Lebogang Maimane
Lebogang Maimane
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In our previous Africa-focussed article we looked at the  development of free trade on the African continent now underpinned by The African Continental Free Trade Agreement (AfCFTA) and the role of Jersey as a conduit for UK investment into the region, against the backdrop of the UK's departure from the EU. While this huge free trade agreement will no doubt spur economic growth, the increasing use of digital technology – as we have experienced globally – is likely to be an equally transforming force in the region.

In this article we explore the rapidly evolving African FinTech industry.

WHAT IS FINTECH?

Financial technology, also commonly known as FinTech, refers to technologies used to automatise the processing, management and delivery of financial services. From mobile banking to cryptocurrency, the entire landscape of the finance industry is rapidly developing around the globe and Africa is no exception.

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