Regulation Key to African Fintech Sector Growth — New Study
According to the findings of a study by Afriwise, Kenya, Nigeria, and South Africa have the most developed fintech ecosystems on the continent. The study points to early regulation as one of the reasons for the industry’s success in these countries. Regulated Fintech Ecosystems Attract Investors Explaining the key role that regulation has played in the growth of the fintech sector in these three countries, the study states: The connection between regulations and a flourishing fintech sector is an important one. It is no coincidence that investors and businesses in....
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In 2021, African fintech startups accounted for 61% of the $2.7 billion in venture capital funding that was deployed on the continent, a new study has found. While its share of global fintech funding is just over one percent, the continent’s fintech sector still recorded one of the highest year-on-year growth rates globally. ‘Record-High Number of Deals Closed’ According to the findings of a new Mastercard study, African fintech startups — whose number grew from 311 in 2019 to 564 in 2021 — accounted for “61% of the USD 2.7 billion deployed across Africa in....
A study undertaken by two assistant professors at American University in Cairo (AUC) has suggested that an increase of 10% in the crypto market cap causes the market value of “African micro-entities” to drop by 0.76%.
Crypto Market Growth Hurts Less Competitive Sectors
According to the findings of a study undertaken by Mina Sami and Wael Abdallah, each time the cryptocurrency market cap grows by 10%, there is a corresponding 0.76% drop in the market value of African micro-entities.
The study findings also suggested that firms in less competitive sectors....
According to the findings of the latest study by Disrupt Africa, the number of fintech start-ups based on the African continent grew to 576 in 2021. This figure represents a 17.3% jump from the 491 start-ups that were operating on the continent in 2019. Overall, the number of fintech start-ups in Africa has increased around 90% from the 2017 figure of 301. Nigerian Dominance Leading the charge in this continuing African fintech growth is the West Africa region where “Nigerian figures were up 42.6 percent on 2019.” In Ghana, fintech companies grew by 25% over the same period....
This new regulation is a first step towards supervising the fintech sector in Indonesia. Fintech is a trend that captivates audiences all over the world. A financial technology evolution is upon us, and it is only a matter of time until drastic changes occur. Indonesia is preparing for what the future may bring, by issuing a new regulation for fintech firms. To be more precise, the government focuses on P2P lending first and foremost. One of the many sectors fintech is “threatening” is the way people think about lending and borrowing money. In most cases, consumers and enterprises have to....
Indonesian Fintech companies that facilitate peer-to-peer (P2P) lending in the country have seen new regulation imposed by the Financial Services Authority. Known as the Otoritas Jasa Keuangan (OJK) locally, the government agency regulates and supervises the financial services sector in the country. The new regulation, POJK No. 77/2016, announced toward the end of December, is seen as an introductory move by the OJK to oversee the Fintech industry, so as to ensure a smooth regulatory oversight over the nascent but burgeoning sector. Speaking at the OJK’s annual press briefing recently, the....