UN Office of the Special Adviser on Africa的动态

?? What the future holds for fintech in Africa? With over 1.4 billion people, more than half of whom lack access to traditional banking, Africa's fintech sector is on the rise! ???? ?? Fintech is bringing financial freedom to the unbanked, and telcos and multinational corporations are joining the race. Top countries for fintech investment include South Africa, Nigeria, Egypt, Kenya, and Ghana, with multibillion-dollar industries still growing rapidly. ???? ?? What's in store for Africa's fintech market? Financial freedom and digital innovation, of course, but also an evolution into an industry we can't fully fathom today. Despite regulatory challenges, companies are eager to invest and make a difference. ???? ?? Opportunities abound in Africa! Fintech funding may be smaller compared to other regions, but the continent's vast potential cannot be ignored. With expanding smartphone access, a youthful population, and a growing tech-savvy culture, fintech adoption is on the rise. ???? ?? Fintech isn't just about the unbanked; it's also supporting SMEs, which contribute significantly to Africa's GDP. However, there are challenges like linguistic diversity, literacy rates, and internet access. Connectivity and affordable data are essential for success. ??????? ?? Mobile money is booming in Africa, with half of all registered accounts globally and 30 billion transactions worth $500 billion! These services reduce poverty and transaction costs, making them essential for Africa's diaspora. ???? ?? Looking ahead, fintechs will offer tailored solutions for niche populations, while investments will focus on systems-building and integration. The next decade will redefine financial services in Africa. ???? Read Full story: https://lnkd.in/dz67kqPA ?? Unipesa is here to empower African fintech with our innovative iNSight software. We're committed to providing secure, transparent, and affordable fintech solutions that cater to the needs of African fintech companies. Contact us to learn more! ???? ?? +971 58 683 2480 ?? [email protected] #FintechAfrica #FinancialInclusion #DigitalInnovation #Unipesa #EmpoweringFintech #banking #bankingagents #africapayment #b2b #digitalbanking #pos #unipesaPos

?? The Under-banked Ecosystem in Africa: Are More Fintech Companies the Answer? Africa is brimming with innovation, but the financial services sector still faces significant challenges. I categorize banking in Africa into three groups: 1?? The Banked:30% of the economy—corporations and high-net-worth individuals enjoying full banking services. 2?? The Banking:Another 30%—individuals with basic services but limited access to advanced offerings like mortgages and large loans. 3?? The Under-banked:40% of the population—people with little to no access to even basic banking services. The question is, do we need more Fintech companies to address this gap? In my view: No. While more payment solutions may seem like a quick fix, they often create inefficiencies and higher costs for users due to the infrastructure required. To truly address the under-banked reality, we need to focus on two critical areas: ?? Localizing Technology Costs:Reducing the cost of internet, hosting, and server infrastructure to allow small businesses to integrate tech more affordably. ?? Improving Access to Mobile Devices:With average incomes at $100–$300/month and mobile phones costing $50–$200, affordable access to technology is still out of reach for many. At Yoris, my team and I are building a solution to make technology more affordable for Africans, because the real solution is not just more software—it’s addressing the barriers that prevent people from fully benefiting from financial systems. What are your thoughts on this? Let’s discuss in the comments! #FinancialInclusion #FintechSolutions #TechAccessibility #BankingInAfrica #InnovationForGood #YorisTech #AffordableTechnology #BusinessStrategy #DigitalAfrica #Leadership Link to YouTube: https://lnkd.in/dTDG-i2S

The remarkable rise of M-Pesa, a mobile money platform launched in Kenya in 2007, serves as a prime example of financial inclusion success in Africa. By leveraging the widespread use of mobile phones, M-Pesa fundamentally transformed the financial landscape; revolutionizing access to financial services for a vast segment of the Kenyan population. While Kenya (80%), South Africa (85%), Egypt (71%), and a few other African nations have achieved impressive financial inclusion rates, the reality across the continent remains fragmented. Significant disparities persist, with many countries barely making any progress. Several key factors contribute to this uneven progress: ---> The Usual suspect - Infrastructure: Across Africa, particularly in remote areas, internet connectivity and access to banking facilities remain a significant obstacle. This infrastructure deficit hinders the implementation and widespread adoption of digital and non-digital financial solutions. ---> Low Financial Literacy: Many individuals, particularly in rural areas, lack the necessary knowledge and confidence to effectively navigate the formal financial system. This low financial literacy creates a barrier to accessing and utilizing financial services. ---> Focus on Replication, Instead of Innovation: There appears to be a tendency to replicate existing models from developed economies (especially in Fintech, which many believe holds the key to financial inclusion in Africa), rather than fostering authentic innovation specifically designed to address the unique challenges faced in Africa; thereby reaching only the already-banked! This report explores actionable recommendations, from deepening mobile money integration to championing regulatory reform, that can solve the financial inclusion puzzle on the continent profitably. Click to download the full report: https://lnkd.in/dhvMBNdU #fintechafrica #PierrineReports #FINANCIALINCLUSION #FINTECH #AfricanFintech #AfricanFinance

The Transformative Power of Fintech in Africa ?? Fintech is a transformative force in Africa, poised to drive economic growth, foster entrepreneurship, and enhance financial inclusion across the continent. This goes beyond merely improving financial services; it’s about enabling broader economic participation and development. According to McKinsey & Company, fintech could add up to $3 trillion to Africa's GDP by 2025. The widespread adoption of mobile technology across the continent provides a strong foundation for fintech solutions to flourish and drive substantial economic impact. Services like M-PESA have revolutionized financial transactions in Africa. By enabling users to send and receive money via mobile phones, these services have extended financial capabilities to millions without access to traditional banking, supporting local trade and businesses. Platforms such as Branch and Tala have transformed access to credit by providing quick, accessible loans without requiring collateral or a formal credit history. This accessibility is crucial for small businesses and entrepreneurs, who are vital to Africa's economy. Beyond payments and lending, fintech companies offer a broad range of digital financial services, including insurance and investment products. These services are essential for building financial security and enabling long-term wealth creation. Fintech is central to shaping Africa’s economic future. By leveraging technology, financial services can become more inclusive, driving both economic growth and social development. Through strategic partnerships, regulatory support, and ongoing innovation, fintech can unlock a more inclusive and prosperous future for Africa. #Africa #Finance #Technology

In today's interconnected world, digital transformation is revolutionising how we conduct cross-border remittances, significantly impacting financial inclusion across Africa. Digital platforms and mobile money services have bridged geographical gaps, enabling millions to send and receive money swiftly and securely. This has particularly benefited remote and underserved communities, providing them with financial services that were previously out of reach. With increased access to financial services, individuals can save, invest, and manage their finances better. This empowerment fosters economic growth and helps lift families out of poverty. Governments and financial institutions are increasingly recognising the potential of digital remittances to drive financial inclusion. By creating supportive regulatory environments, they are facilitating the growth of these innovative solutions. Digital transformation in cross-border remittances is not just about technology; it's about creating opportunities and fostering inclusive growth. As we continue to innovate and expand these services, we pave the way for a more financially inclusive Africa. #DigitalTransformation #FinancialInclusion #Legal #Governance #Risk #Compliance #Remittances #Africa #Fintech #EconomicGrowth #Innovation #MobileMoney

The future of finance in Africa is likely to be marked by increased digitization, mobile banking, and fintech innovation. This can improve access to financial services, promote financial inclusion, and drive economic growth across the continent. Additionally, sustainable finance initiatives could play a crucial role in addressing environmental and social challenges while fostering economic development. Be part of the movement, together lets shape the future of finance in Africa! Fintech Association of South Africa (FINASA) Fintech Association Of Kenya Fintech Association Of Nigeria #southafrica #decentralizedfinance #futureoffinance #africaday

Africa is a goldmine for fintech disruption. With a vast unbanked population and a tech-savvy youth demographic, the potential for financial innovation is immense. However, building a thriving fintech brand in Africa has its challenges. Challenges like language barriers, poor regulations, low literacy levels, and slow internet penetration rates can hinder customer acquisition, product development, and overall business operations. To solve these problems, fintechs should prioritise localisation by adapting their services to suit diverse linguistic and cultural contexts. Building solid relationships with regulators and advocating for clear, enabling frameworks and policies is crucial. Additionally, investing in financial literacy programs for their customer base and partnering with telecom companies to get their services where needed can help overcome the literacy and internet access challenges. By strategically and sustainably addressing these issues, fintechs in Africa can drive financial inclusion for millions. #Fintech #Africa #FintechInAfrica #FintechGrowth #FintechChallenges

The future of finance in Africa is likely to be marked by increased digitization, mobile banking, and fintech innovation. This can improve access to financial services, promote financial inclusion, and drive economic growth across the continent. Additionally, sustainable finance initiatives could play a crucial role in addressing environmental and social challenges while fostering economic development. Be part of the movement, together lets shape the Future of finance in Africa! Fintech Association of South Africa (FINASA) Fintech Association Of Kenya Fintech Association Of Nigeria #southafrica #decentralizedfinance #futureoffinance #africaday

The rise of digital finance in Africa has profoundly impacted the continent, influencing various areas such as financial inclusion, economic development, and technological innovation. Here’s an analysis of it’s transformative effects: ?? Over 548 million mobile money accounts are registered across Africa. Platforms like M-Pesa empower previously unbanked individuals to save, borrow, and transact via mobile phones. ?? Digital finance contributed to a $3.7 billion GDP boost in sub-Saharan Africa in 2022. SMEs benefit from easier access to microloans and credit, stimulating local economies. ?? The fintech sector employs over 3 million people across Africa, creating tech, digital marketing, and data analytics opportunities for the continent's youth. ?? Women represent 60% of mobile money users in some regions, driving gender equality. Increased efficiency in cross-border payments fosters regional trade and strengthens economic ties. ?? $701 billion was transacted via mobile money in 2022, enhancing transparency and reducing fraud. This rise in digital transactions underscores the need for robust cybersecurity measures. Despite these advancements, Africa faces a 40% internet penetration rate, indicating an ongoing digital divide. Regulatory hurdles persist, with some countries needing help to keep pace with fintech innovations. At AfriDES, we are committed to supporting this digital finance revolution. By fostering collaboration among stakeholders and promoting innovative solutions, we aim to ensure that digital finance drives economic growth, empowers communities, and creates opportunities for all. As we continue investing in infrastructure, education, and sound regulations, the potential for progress is limitless! #DigitalFinance #AfriDES #AfricaRising #Fintech #EconomicGrowth #FinancialInclusion #Innovation #Entrepreneurship

The World Bank Group, Digital Economy for Africa (DE4A) is transforming Africa’s digital space, aiming to digitally enable every individual, business, and government by 2030. With a focus on infrastructure, affordability, and inclusion, the initiative increased broadband access from 26% in 2019 to 36% in 2022, improving download speeds and reducing costs. One of DE4A’s significant achievement was expanding broadband access, particularly in North Africa, where it surged from 27% to 55%. Countries like Comoros, Niger, Malawi, and Burkina Faso also benefited from infrastructure enhancements, including submarine cables and regional links, which raised average broadband speeds from 2.68 Mbps in 2019 to 8.18 Mbps by 2022. Additionally, these efforts reduced the cost of 1GB of mobile data from 10.5% of monthly Gross National Income (GNI) in 2019 to 5% in 2021, with countries such as Benin and Somalia making even more significant strides. This expanded connectivity has opened doors for innovative businesses and fintech companies, including Mulla Africa. Mulla Africa aims to capitalize on these infrastructural improvements by offering our customers an easy-to-use and accessible solution for financial transactions. As internet access grows, so does the demand for digital services that cater to everyday needs. Our platform does not only simplify bill payments but also rewards customers with cash back benefits, aligning with the evolving digital habits of African consumers. By using Africa’s growing broadband access, we are making it easier for individuals and businesses to manage their finances, bringing convenience and rewards to routine transactions. As Africa’s digital ecosystem continues to grow, Mulla Africa is positively positioned to use these improvements to enhance its services, thereby bridgding the financial inclusion gap, and making bill payments easier for millions of Africans. By combining convenience with affordability, we are shaping the future of fintech in Africa’s digital economy. Download the full report here:?? https://lnkd.in/gvyMAtMQ #fintech #mulla #payments #financialservices #africa #billpayments