Part 1 – Country Highlights: Established Players and Rising Stars
We selected four countries with the most influence, potential, and economic stability from across Africa: South Africa, Nigeria, Ghana, and Kenya (SANGK). All four countries have well-developed start-up ecosystems to nurture the next generation of FinTech firms. Here we provide a detailed analysis of the government actions, ICT context, and the human capability element.
We have also selected three rising stars. These are countries (and cities) which show promise of becoming the next FinTech and growing technology hubs. They have been chosen for different reasons. The three countries are: Ethiopia, Egypt, and Angola.
Part 2 – Across the Continent: Legislative Frameworks and Collaborations
There are three structures (business models) which have been used to deploy MFS: bank-based, non-bank based, and (independent) payment provider based. Most countries have permitted one or two business models with Nigeria being the only exception advocating the use of any of the three types. We present a detailed framework into the legal environment within the major FinTech countries in Africa.
On Irrespective of the guidelines and regulations adopted, all have required, to varying degrees, collaborations between mobile network operators (MNOs) and financial institutions. Here we provide a summary of the major deals which have occurred.
Part 3 – Derivatives and Drivers: Secondary Effects and Start-up Enablers
This chapter concentrates on the secondary effects of FinTech and its supporting mechanisms across the continent. The range of possible effects tested varies from the highly theoretical and economic, to the behavioural changes arising due to the growth of MFS and FinTech as a whole.
We also provide a list of some of the many accelerator and incubator programmes, co-working spaces, and innovations centres which exist in Africa. Some of the well-known programmes are internationally run. Whilst others are regional players like MEST, iSpace and Impact Hub Accra (Ghana); iHub (Kenya), xHub Innovation Society and iceaddis (Ethiopia).