In recent times, African startups have been in the news for developing modern technologies. From the funds raised for expansion to the innovations and software developed, the African Tech ecosystem is booming.
Following the strides recorded in 2019, we have documented our 2020 tech predictions for Africa below;
Financial Inclusion
The race to bank the unbanked will be the goal of African fintechs in 2020. The previous years have witnessed startups race towards achieving financial inclusions. Worthy of mention include Safaricom’s MPesa mobile money service in East Africa. Flutterwave connected Africa with China using a single API and earned a place on ‘YCombinator’s Top Companies Valued at above $150 million’.
Financial inclusion was not only promoted by fintechs in 2019, Mobile Network Operators and on-demand ride-hailing startups also introduced mobile money services. For instance; OPay, on the one hand, integrated lifestyle and financial services and on the other hand, secured $170 million and deepened its service offering to accommodate more business verticals. This trend will enter into 2020 as more companies diversify to meet the customer’s need.
