Stakeholders advocate collaboration among African Fintech startups




Stakeholders in the African Fintech startups have called for more collaboration in the ecosystem to achieve a common goal of improving the payment system across the African continent.

Speakers at the just concluded 5th African Fintech Forum in the Ivorian capital city of Abidjan said the collaboration will also help them sustain the current growth even as external funding slows.

A keynote speaker at the event, CEO of HPS Business Gary Ceaplen, noted that while Fintech’s past lies in the U.S., and its present remains squarely in Asia, Africa must position itself for what is to come to take advantage of the next Fintech revolution. 

“While the lion’s share of value in the market (approximately 40 percent of revenues) is currently concentrated in South Africa, which has the most mature banking system on the continent, Ghana and Francophone West Africa are expected to show the fastest growth at 15 per cent and 13 per cent per annum, respectively until 2025.

The Africa Fintech Forum has become a voice of authority in particularly French-speaking Africa. This year, there are over 500 participants from across Africa, including Fintech associations from Nigeria, Ghana, and South Africa, among others.

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