Diving Into Three of Africa’s Emerging Fintech Economies
For many, Africa represents the final frontier of untapped economic growth. Across its diverse countries, growth rates continue to outpace those achieved in long-developed economies. Collectively, growth) on the continent stabilized at 3.4% in 2019, and is forecast to reach 3.9% in 2020 and 4.1% in 2021. While these numbers remain below historical highs, fundamentals continue to improve as economies shift from local consumption to external investments.
Of the 30 fastest growing cities in the world, 21 are in Africa. Jack Dorsey, the CEO of Twitter and Square, said:
“Africa will define the future (especially the Bitcoin one!)”
In step with this economic expansion, Africa’s tech industry has experienced significant growth. Companies like Facebook, Google, Microsoft and Huawei continue to invest in the region. Naturally, the competition for talent has become fierce. As this momentum builds, it’s apparent that the African tech scene is on the rise, and the secret is out.
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