Here Are The Top Fintech Companies In Africa 2023

Africa, which is well known for its abundant mineral resources, is currently generating news in the fintech arena. The continent is undergoing a fintech revolution, which is altering traditional financial services, increasing financial inclusion, and propelling economic growth.

Africa is experiencing a fintech boom defined by innovation and quick acceptance of digital financial solutions, and as a result, the continent has produced a lot of great fintech products.

CNBC, an American-based cable business news station and website, recently worked with Statista, a German data collection online platform, to offer a comprehensive snapshot of the top fintech businesses.

The research yielded a list of some of the world’s best-performing fintech companies in nine categories: neo-banking, digital payments, digital assets, digital financial planning, digital wealth management, alternate financing, alternate lending, digital banking solutions, and digital business solutions.

Below are the African fintech companies:

1. 22seven in Cape Town ,South Africa specializes in Digital Financial Planning.

2. Bank Zero in Johannesburg, South Africa specializes in Neobanking.

3. Fawry in Cairo, Egypt specializes in Digital Payments.

4. Kuda in Lagos, Nigeria specializes in Neobanking.

5. OPay in Lagos Nigeria specializes in Digital Payments.

6. Yoco in Cape Town South Africa specializes in Digital Payments.

In March, CNBC issued a public call for nominations for fintechs to provide further data on their business strategy, revenue, transaction volumes, and other metrics for the research.

Because many fintech companies are privately held, they are not required to post financial accounts. Market analysis relied on voluntary company model disclosure.

Statista examined over 1,500 fintech companies and 10,000 data points, including annual reports, company websites, and press articles.

Statista calculated aggregated scores on how enterprises fared relative to various KPIs, such as revenues and revenue per employee, as well as an overall score.

To find out other top fintech companies in the world, click here