Kenya’s fintech funding landed the third spot in Africa
March 19, 2024
Nairobi, 29th February 2024: Going by Afridigest Fintech Transactions Database, the mobile money capital of the world secured $280 million from 13 deals in H1 2023, falling behind only Egypt and South Africa.
The first half of 2023 also witnessed 75 African fintech startups raising $1.2 billion in risk capital across 85 transactions.
Standing tall during nationwide digital transitions, the government of Kenya has launched several mega scale initiatives like Digital Economy Blueprint, National Payments Strategy 2022 – 2025, Credit Guarantee Scheme and others to skyrocket fintech’s adoption in the public and private sector.
Finance moguls are suggesting the country’s Capital Markets Authority (CMA) and its openness for applications concerning the regulatory sandbox all year round as a major game-changer. The above move is encouraging more and more fintech innovations in Kenya.
As East Africa’s leading financial hub, Kenya is also serving as an ideal gateway for investors and businesses to the wider African market.
Know more about Kenya’s financial services industry and its many aspects at World Financial Innovation Series (WFIS) on 16 – 17 July 2024 at The Edge Convention Center Nairobi.