By the end of 2021, fintech startups accounted for nearly $3 billion, or two-thirds of all the investment raised by startups across the continent. According to Disrupt Africa, the continent had 573 fintech in mid-2021, a 17.3 per cent growth from 2019. But are there now too many fintech startups? The popular narrative for creating new fintech in Africa usually wraps up three facts: Africa has over 1.2 billion people, mobile phone penetration is growing, and so is the middle class. Most of the attention is on digital payment fintech.

Source: The North Africa Journal June 24, 2022 12:34 UTC