KEY TAKEAWAYS
  • African fintechs are growing in popularity due to high necessity for their services in the region.
  • One leader is Paga, an African digital payment platform with over 6 million customers.
  • Though African fintechs are on the rise, recent regulation, such as bank verification number requirements for mobile payments, could threaten continued growth.

African fintech took one-third of the funding injected into startups on the continent in 2017, and 2018 has followed suit with big ticket deals such as Nigeria-based Paga’s $10 million funding for international expansion led by the Global Innovation Fund.

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