Fintechs have the potential to significantly improve the options available to financially underserved individuals. Many fintech start-ups in Africa, however, struggle to reach the scale and level of maturity that would make them viable alternatives to the offerings from traditional financial service providers. This is particularly true for fintechs launched in African countries that tend to not be favoured by investors (namely Nigeria, Kenya, South Africa and Egypt).

To address some of these challenges, Cenfri is supporting the Africa Fintech Network in the development of the Africa Fintech Hub. The digital platform will enable fintech associations to pool resources and knowledge, strengthen relationships and partnerships, as well as showcase fintechs and fintech leaders (especially women).

Representatives from fintech associations, as well as fintechs from across the continent, have been consulted (via individual interviews and a survey) to determine how the Hub can best meet their needs. The research findings will be published in the forthcoming Africa Fintech Report and will be used to inform the design of the Hub.

This initiative is supported by the African Development Bank’s Africa Digital Financial Inclusion Facility (ADFI), which was set up to support innovations focused on expanding access and usage of digital financial solutions and meeting the needs of African consumers.

For more information on this project email rose@cenfri.org.