{"id":25970,"date":"2023-03-03T07:30:36","date_gmt":"2023-03-03T07:30:36","guid":{"rendered":"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble"},"modified":"2023-03-03T08:22:52","modified_gmt":"2023-03-03T08:22:52","slug":"air-escapes-from-africa-fintech-bubble","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble","title":{"rendered":"Air escapes from Africa fintech bubble"},"content":{"rendered":"

Africa-Press – Lesotho. <\/strong><\/span><\/a>The period of exponential growth in African fintech investment may be drawing to a close as financing becomes more selective.<\/p>\n

Venture-capital investment into African fintech surged to $1.6bn in 2021 from $230m in 2020, according to the PitchBook financial data provider. PitchBook\u2019s figure for the first nine months of this year \u2013 $1.3bn \u2013 suggests a full-year figure roughly in line with 2021.<\/p>\n

Despite all the hype, Africa still has only a handful of unicorns or start-ups with a $1bn valuation. As McKinsey notes in research published in October, African fintech investment has been slowing down in line with global trends.<\/p>\n

The continent\u2019s total addressable market, McKinsey argues, is limited by infrastructure constraints, such as weak mobile and internet penetration in some markets, lack of identification, and limited payment rails.<\/p>\n

Only three countries have real-time payments and the necessary payment-rail infrastructure, the firm says. Prospects for growth are still real: McKinsey forecasts that African fintech revenues could reach eight times their current value by 2025. However, investment may become targeted at specific functions within the broad fintech theme.<\/p>\n

McKinsey says economies with mature financial systems, such as South Africa and Nigeria, will attract innovation in more advanced financial services, such as business-to-business (B2B) liquidity, and anti\u2013money\u2013laundering and know-your-customer (KYC) technology.<\/p>\n

Markets with less developed financial infrastructure are likely to see advances in the likes of banking as a service, and buy now, pay later in retail and small and medium-sized enterprise (SME) lending.<\/p>\n

That\u2019s a positive development, argues Buhle Goslar, CEO for Africa at the Jumo fintech. Until recently, she says, only middle-class African consumers in major cities could shop on e-commerce platforms.<\/p>\n

\u201cThere was no viable business case for business-to-customer (B2C) e-commerce platforms for middle- to low-income African consumers\u201d, mainly due to limited internet access and other logistical limitations.<\/p>\n

\u201cThis is rapidly changing,\u201d says Goslar, who is also on the board at the Copia Global B2C platform.<\/p>\n

Africa\u2019s low-to-middle-income consumer, she says, can be \u201cinstrumental\u201d in the growth of e-commerce, while building new digital and financial solutions into e-commerce offers will underpin future growth.<\/p>\n

New unicorns keep being born, too. The latest is Egyptian MNT-Halan, which has raised $400m from local and international investors over the last year.<\/p>\n

For More News And Analysis About Lesotho<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Lesotho. The period of exponential growth in African fintech investment may be drawing to a close as financing becomes more selective. Venture-capital investment into African fintech surged to $1.6bn in 2021 from $230m in 2020, according to the PitchBook financial data provider. PitchBook\u2019s figure for the first nine months of this year \u2013 […]<\/p>\n","protected":false},"author":84,"featured_media":25969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6],"tags":[233,246,314,245],"class_list":["post-25970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","tag-africa-press","tag-africa-press-lesotho","tag-african","tag-lesotho"],"yoast_head":"\nAir escapes from Africa fintech bubble - Lesotho<\/title>\n<meta name=\"description\" content=\"The period of exponential growth in African fintech investment may be drawing to a close as ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Air escapes from Africa fintech bubble\" \/>\n<meta property=\"og:description\" content=\"The period of exponential growth in African fintech investment may be drawing to a close as ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble\" \/>\n<meta property=\"og:site_name\" content=\"Lesotho\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-03-03T07:30:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-03-03T08:22:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2023\/03\/postQueueImg_1677816126.45.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"586\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Air escapes from Africa fintech bubble\",\"datePublished\":\"2023-03-03T07:30:36+00:00\",\"dateModified\":\"2023-03-03T08:22:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble\"},\"wordCount\":390,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/lesotho\/sites\/62\/2023\/03\/postQueueImg_1677816126.45.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Lesotho\",\"African\",\"Lesotho\"],\"articleSection\":[\"all news\",\"files\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble\",\"url\":\"https:\/\/www.africa-press.net\/lesotho\/all-news\/air-escapes-from-africa-fintech-bubble\",\"name\":\"Air escapes from Africa fintech bubble - 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