According to Disrupt Africa, fintechs occupy the top spot in much of Africa because they solve 'fundamental problems for the populace.' fintech ecommerce
As of November 2022, Kenyan fintechs accounted for 30.2% or 93 out of the 308 tracked tech startups, a Disrupt Africa study recently found. In addition, the study findings show that the fintech sub-sector alone accounted for 3,100 or 27% of the 11,462 people that were employed by tech startups during the same period.of a study on Kenya’s startup space, fintech ventures alone accounted for just over 30% or 93 out of the 308 tracked startups.
“Fintech takes the top spot in most African countries as it solves fundamental problems for the populace, is an area in which novel tech solutions tend to be well received and quickly adopted, as well as offering attractive returns for investors,” the report said.Besides accounting for the largest share of tech startups, fintechs also employed more workers than other sub-sectors. Agritech and e-commerce are the only other tech sub-sectors that employed more than a thousand workers.
Concerning the tech startups’ use of blockchain, the study found that 12 of the 30 blockchain-based ventures are fintechs. E-health and agri-tech are ranked second and third, respectively.Tags in this story
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