Author: Webster Malido

In 2020, as the world was ravaged by the coronavirus, investment into financial technology (FinTech) companies in emerging markets decreased as funders sheltered against a volatile, risky environment. Except that’s not the whole story. True, funding for Latin American and Indian fintech companies declined, but investment in African FinTech soared, according to research by Briter Bridges and BFA Global. Africa saw FinTech funding, including mergers and acquisitions, grow to $1.35 billion in 2020 from $1 billion in 2019. The trend reflects the increasing potential for growth in the continent. Africa has a growing population of 1.3 billion people, rising smartphone…