Recommendations For the Growth of African Fintech

Sub-Saharan Africa leads the world when it comes to the number of people per capita using mobile money accounts as well as the volume of mobile money transactions; there are more mobile money accounts there than bank accounts; fintech is emerging as the tech enabler of the digital economy; despite this, many are uncertain about the ultimate impact of fintech; the Brookings Institute has three recommendation for getting the most out of fintech in the region; one, there needs to be investment in the power sector to ensure a steady supply of electricity; two, policymakers need to address the slow pace of regulatory changes against the rapid innovation in fintech; policymakers need a forward thinking approach to employment and the kinds of jobs needed for a fintech-enabled future. Source.

About the Author

  • Peter Renton

    Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

Sign In