As Africa enters a technology revolution, the pace of urbanisation will increase, and the ever-pressing issue of mobility will increase with it.
The Financial Technology (Fintech) industry in Nigeria has come to stay, as it took the lead in Africa attracting $122 million in funds in 2019.
Flutterwave, an African focused fintech company disclosed that it secured US$35 million through its Series B funding round.
Two fintech companies in Africa, MFS Africa and Frontclear, have secured $3.2 million worth of investments from FSD Africa Investments.
Globally, the fintech market is driven primarily by electronic payments following the increasing use of smartphones.
Popular payments company, Visa, has announced that it is acquiring fintech startup, Plaid, in a deal worth $5.3 billion. #PLAID #VISA
About $400m has been invested in fintech firms in the country in 2019, according to the Central Bank of Nigeria.
Today, November 13, Palmpay, an African-focused mobile payment startup, will launch in Nigeria.
The CBN has tasked Fintech companies to put in more effort to drive financial inclusion in Nigeria by providing services at low cost to consumers.
In a bid to continue expanding its services into the international market, Nigerian Fintech firm, Lidya has launched in Poland and Czech Republic.