The June Juncture: Collating the notable Fintech Headlines in Africa last month.
An insightful dashboard of Funding, Trends and Policies | Vol 30 | July 6th, 2023
It’s Thursday Fintech Fans!!
Welcome to another Monthly Review and apologies for sending this out late. Hopefully, you’ll let us off easily when you see the depth of work that went into distilling this month’s review.
Right.. this edition is packed with infographics- why?
Who has time to be reading a lot of text when you quickly need to show your boss you deserve that promotion in 3 months’ time?
Ok, so that is why we are bringing you not 1, 3, or 5 but 7!! infographics, ok make that 8 considering the weekly roundup. Take a look at the list below:
4 Major Africa Fintech Headlines in June '23.
The latest Fintech Innovation Trends that are reshaping the African continent.
Africa Fintech Focus by Country.
Money moves and Funding Insights last month.
Reviewing Impactful Partnerships in African Fintech
Fintech Awards and Recognitions this Month.
3 Fintechs to watch out for on the continent plus our reasons.
Are you ready for this? The stage is set, let the review begin!
🎡4 Major Africa Fintech Headlines in June '23 :
We kick off this informative piece on a controversial note. Yeah because a lot of people might disagree with our selection below. Tell you what, we disagreed with ourselves too!
Question for you - What criteria would you list to define what is Major in a batch of very important headlines 🤔💭?
✒️Innovation Trends reshaping the continent. :
We noticed a lot of trends but 6 made the cut as dominant. For dominance, we measure it by the frequency and spread of product-related activities. For each category, we have listed a non-exhaustive list of players who are featured.
What do you think about Super Apps? Is Africa finally ready for QR- Contactless-SoftPOS?
⛳ A Fintech Focus by Country:
Last month, South Africa had the lead in Fintech Innovation and Nigeria definitely set the pace for regulatory and compliance monitoring. Find out what other countries featured and what is the current country focus for Fintech.
💸Money Moves and Funding :
In this category, we track the flow of investments, which is still low compared to last year. We actually had a week last month that had zero funding. Ha!
To draw more insight from funding trends, we have highlighted other sources that funds have flowed from apart from the popular Equity funding. Take a look.
2 more things to highlight on funding:
Acquisitions: We had 2 acquisitions last month that were Bank-led and banks were acquired as well. Could it point to a possible Bank-Fintech acquisition?
Outward Investments: We hear of inbound investments into Africa, but in June we recorded the 1st outbound investment - South African Investor DNI group invested $1m into Pakistani Fintech Startup, Neem.
⚖️Impactful Partnerships :
One prediction that has always held true month-on-month for African fintech is that partnerships will unlock new growth this year.
In June we recorded 24 Fintech-related partnerships across the continent.
We spent some time studying them to draw insights - Card schemes and cross-border themes were dominant. Find the major players below.
🏆Awards and Recognitions.
Sometimes it seems we only celebrate funding and product releases. You can’t blame us, raising money on the continent can have a peculiar rigor.
But we want to do something different in this edition. Here we spotlight a few of our own who have been recognized internationally and on the continent.
Give it up 🙌🏽
🧭A New Breed of Champions:
We are used to hearing the exploits of the likes of Flutterwave. MFS Africa, ChipperCash, and similar Fintechs, but who are the upcoming Unicorns and Pan African Fintechs? We made a list for you below. They are based on market Niche, Market breadth, and Investor appeal.
Who would you add to the list?
🔬Other Thoughts - a 6-month check-in on trends:
We conclude this piece by looking at some Fintech categories we thought will be quite promising at the beginning of the year. Take a look at the categories below:
CBDC:
We’ve noted a constant decline in CBDC-related activities on the continent. The only update this month was on eNaira being explored for remittance.
Crypto:
The same applies to Crypto, but Yellow Card has made a lot of effort in exploring Literacy on the continent.
Embedded Finance :
Embedded Finance was touted to be a game changer at the beginning of the year, Perhaps it’s growth has been hindered by the (temp) lull in Open banking activities.
That was a lot to chew on 🍗, feel free to share the infographics and tag us. If you also want to deep-dive your H2 Fintech strategy with our consultants, we have our hands deep in the data. Shoot us an email at info@thepaymentlogue.com.
For our usual weekly update, here are the news highlights from last week showcasing 8 top Fintech headlines covering funding, expansion, product innovation, regulator activity, and partnerships in Africa.
That is the Review! Let’s know what your thoughts are in the comments and what we left out. Until we read from you - have an awesome rest of the week!
Outro
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