In response to the news that Fintech is becoming Africa’s fastest growing sector – making up 61 per cent of the $2.7billion deployed across Africa in 2021 – read below an expert response comment from Ola Atose, Founder & CEO of Africa based fintech & crypto firm, KoinKoin.
Ola Atose, Founder & CEO of KoinKoin, comments:
“For many years, African countries have largely been neglected of the same access to the tier one financial services typically offered to richer nations in the Northern hemisphere. This lack of access has stipulated a digital revolution across Africa, whereby cutting-edge and African-born fintechs, that solve every-day real-life problems, have emerged.
“Such problems include cross-border transactions, currency exchanges, and access to assets that store value. In fact, demand for cryptocurrency in particular has surged across the continent, with funding for Africa-focussed cryptocurrency firms growing by 11 times in just 12 months, from Q1 2021 to Q1 2022.
“However, for Africa’s digital revolution to truly succeed, we must see even more collaboration between local and national governments, traditional banking services, private companies and exciting new fintechs.”
