FinTech has transformed the financial sector in Africa, driving economic growth and connecting millions within the formal economy, often for the first time. The region has long been home to innovative disruptors in the space, starting with mobile money which has paved the way for a vibrant and diverse ecosystem. Today, Sub-Saharan Africa is home to over 760 million mobile money registered accounts with transactions valued at over USD 830 billion in 2022.
However, as Africa’s digital economy continues to grow, the sector is once again facing disruption. New products, services, technologies and innovations are driving the evolution of the industry and offering customers access to life changing services while driving financial inclusion. It is imperative to ensure the momentum doesn’t waver and diverse stakeholders work together to enable long-term sustainable growth.
At MWC Kigali 2023, we will examine the evolution of the FinTech industry in Africa, and explore the emerging technologies and trends that will shape the future of the digital economy and FinTech in the region and beyond.