FinTech Magazine - September 2021 | Page 11

FinTech continues to rise in Africa

Africa

Dominating the startup space , the FinTech industry in Africa has raised US $ 900mn over the last six years ( twice as much as any other industry ).
While South Africa currently has the highest penetration rate , with 94 % having access to the internet and 67 % having a bank account , still more than half of the whole continent is unbanked .
With FinTech investment on the rise , could it be the answer to fill the gap ? fintechmagazine . com 11