{"id":14024,"date":"2023-02-02T11:17:02","date_gmt":"2023-02-02T11:17:02","guid":{"rendered":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble"},"modified":"2023-02-02T12:29:27","modified_gmt":"2023-02-02T12:29:27","slug":"air-escapes-from-africa-fintech-bubble","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble","title":{"rendered":"Air escapes from Africa fintech bubble"},"content":{"rendered":"

Africa-Press – Sierra-Leone. <\/strong><\/span>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. Only three countries have real-time payments and the necessary payment-rail infrastructure, the firm says.<\/p>\n

More targeted investment<\/p>\n

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. 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. \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. 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

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

Africa-Press – Sierra-Leone. 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":14023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[291,293,292],"class_list":["post-14024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-sierra-leone","tag-sierra-leone"],"yoast_head":"\nAir escapes from Africa fintech bubble - Sierra Leone<\/title>\n<meta name=\"description\" content=\"The period of exponential growth in African fintech investment may be drawing to a close as financing becomes more selec ...\" \/>\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\/sierra-leone\/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 financing becomes more selec ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble\" \/>\n<meta property=\"og:site_name\" content=\"Sierra Leone\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2023-02-02T11:17:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-02T12:29:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/02\/postQueueImg_1675327820.00.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\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Air escapes from Africa fintech bubble\",\"datePublished\":\"2023-02-02T11:17:02+00:00\",\"dateModified\":\"2023-02-02T12:29:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble\"},\"wordCount\":369,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/sierra-leone\/sites\/16\/2023\/02\/postQueueImg_1675327820.00.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Sierra-Leone\",\"Sierra-Leone\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble\",\"url\":\"https:\/\/www.africa-press.net\/sierra-leone\/all-news\/air-escapes-from-africa-fintech-bubble\",\"name\":\"Air escapes from Africa fintech bubble - 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