Saturday, July 10, 2021
  • PRESS RELEASE
  • ADVERTISE
  • CONTACT
All News
  • Home
  • Business
  • Technology
    • Tech News
    • Tech Reviews
  • Finance
  • Marketing & Advertising
  • Investment
  • Cryptocurrency
No Result
View All Result
  • Home
  • Business
  • Technology
    • Tech News
    • Tech Reviews
  • Finance
  • Marketing & Advertising
  • Investment
  • Cryptocurrency
No Result
View All Result
All News
No Result
View All Result

Nigeria Dominates in ‘Big Three’ Markets – Fintech Bitcoin News

by All News Admin
July 10, 2021
in Cryptocurrency
0
Home Cryptocurrency
Share on FacebookShare on TwitterShare on Email


In accordance with the findings of the newest research by Disrupt Africa, the variety of fintech start-ups based mostly on the African continent grew to 576 in 2021. This determine represents a 17.3% leap from the 491 start-ups that had been working on the continent in 2019. General, the variety of fintech start-ups in Africa has elevated round 90% from the 2017 determine of 301.

Nigerian Dominance

Main the cost on this persevering with African fintech development is the West Africa area the place “Nigerian figures had been up 42.6 % on 2019.” In Ghana, fintech firms grew by 25% over the identical interval whereas Ivory Coast’s depend was up 100%.

Nonetheless, because the research’s findings present, three nations — Nigeria, South Africa, and Kenya — completely dominate the continent’s fintech start-up house. As an illustration, the findings present that out of all of the fintech start-ups that had been tracked throughout the interval between 2019 and 2021, 391 had been situated in these three nations. Of those 391 start-ups, 154 are based mostly in South Africa, whereas Nigeria just isn’t far behind with 144. Kenya is a distant third with 93 fintech start-ups.

Africa Fintech Start-up Growth: Nigeria Dominates in 'Big Three' Markets

Covid-19 Induced Resurgence

In the meantime, research findings counsel that this resurgence of fintech development within the “massive three” markets might be linked to the Covid-19 associated restrictions. As an illustration, the information reveals that after the marginal drop of 2019, the proportion of funds and remittances fintech start-ups elevated in these three nations.

Africa Fintech Start-up Growth: Nigeria Dominates in 'Big Three' Markets

South African fee and remittances start-ups grew by 27.3%, a determine seven proportion factors larger than its 2019 development fee. In Kenya, the variety of fintech start-ups elevated by 21.5%, up from the 15.4% development recorded in 2019. Nonetheless, in Nigeria — which has persistently outperformed each South Africa and Kenya since 2017 — the variety of funds and remittances-related fintech start-ups grew by 33.3%. That is solely marginally larger than the 2019 development fee of 32.7%.

By way of funds raised, the research findings present that Nigerian fintech start-ups have dominated since 2015. The research report explains:

Of the 277 fintech funding rounds tracked by Disrupt Africa between 2015 and mid-2021, 108 of those rounds went to Nigerian startups, totalling $467,901,000 in funding and accounting for 53.4 per cent of funds raised since monitoring started. This can be a far larger complete greenback quantity than every other nation in Africa.

In the meantime, South Africa, which is Nigeria’s nearest competitor, raised a complete of $216,124,800 over the identical interval. Nonetheless, this determine is just barely larger than the overall quantity of Nigerian funding in 2021 up to now, which is $208,225,000.

Africa Fintech Start-up Growth: Nigeria Dominates in 'Big Three' Markets

Fintech Failures

Along with monitoring new start-ups, the Disrupt Africa report additionally recorded the variety of fintech failures. Explaining these start-up failures, the report reads:

As famous beforehand, 109 of the fintech ventures featured within the 2019 version of this report have since closed their doorways. That represented 22.2 per cent of the 2019 complete. Closures in and of themselves are clearly not optimistic issues, however the nations and verticals wherein most of those ‘fails’ have taken place counsel a market that’s correcting itself.

Apparently, the Disrupt Africa research discovered that extra fintech start-ups now have operations in multiple class. Because the findings present, the continent had 143 multi-category fintechs working in 2021, in opposition to the 73 that had been seen in 2019. Main on this class is Nigeria which has 39 adopted by South Africa which has 31 whereas Kenya just isn’t far behind with 30.

What your ideas on the findings of this research? Inform us what you suppose within the feedback part under.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It isn’t a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any harm or loss prompted or alleged to be brought on by or in reference to using or reliance on any content material, items or companies talked about on this article.





Source link

Tags: bigbitcoindominatesFintechMarketsNewsNigeria
Previous Post

Postdates Is a Handy Way to Get Stuff Back From Your Ex, With a Dash of Social Commentary

Next Post

Samsung Galaxy M21 2021 Edition’s leaked specs will leave you scratching your head

Related Posts

Cryptocurrency

Altcoin bulls pile into Synthetix (SNX), Axie Infinity (AXS) and EOS

July 9, 2021
Cryptocurrency

CEX.IO will take part in the online round table for IT-leaders

July 9, 2021
Cryptocurrency

Ethereum’s London Hard Fork Scheduled to Commence on August 4 – Technology Bitcoin News

July 9, 2021
Cryptocurrency

Top 5 Cryptocurrencies of 2021

July 9, 2021
Cryptocurrency

Survey finds most El Salvador citizens are skeptical of making BTC legal tender

July 9, 2021
Cryptocurrency

Crypto Exchange Binance.us Hires Former Financial Regulator – Exchanges Bitcoin News

July 8, 2021
Load More
Next Post

Samsung Galaxy M21 2021 Edition's leaked specs will leave you scratching your head

The sisters who created their own corporate gift company collaborating with Mexican artisans

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECENT UPDATES

The sisters who created their own corporate gift company collaborating with Mexican artisans

July 10, 2021

Samsung Galaxy M21 2021 Edition’s leaked specs will leave you scratching your head

July 10, 2021

Nigeria Dominates in ‘Big Three’ Markets – Fintech Bitcoin News

July 10, 2021

Postdates Is a Handy Way to Get Stuff Back From Your Ex, With a Dash of Social Commentary

July 9, 2021

Lovable mouse Quill stars in her second VR adventure Moss: Book II

July 10, 2021

Unopened NES ‘Legend of Zelda’ Game Sells for $870,000 in Auction

July 9, 2021

Biden announces ambassador picks for France, India, Chile, Bangladesh

July 9, 2021

The invisible goalposts for Black female athletes

July 10, 2021

ITV’s England ‘curse’ lifted but BBC will dominate Euro 2020 final | Euro 2020

July 9, 2021

Racing for Real Estate? This Indianapolis Agent Has the Investment Fast Track

July 9, 2021

Monthly Dividend Stock In Focus: Global Water Resources

July 9, 2021
Load More
Facebook Twitter LinkedIn Tumblr
All News

Get the latest news and follow the coverage of Business, Finance, Tech, Marketing & Advertising, crypto updates and more from the top trusted sources.

Categories

  • Business
  • Cryptocurrency
  • Finance
  • Investment
  • Marketing & Advertising
  • Tech News
  • Tech Reviews
No Result
View All Result

Site Map

  • Disclaimer
  • DMCA
  • Privacy Policy
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact

Copyright © 2021 All News.
All News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Business
  • Technology
    • Tech News
    • Tech Reviews
  • Finance
  • Marketing & Advertising
  • Investment
  • Cryptocurrency

Copyright © 2021 All News.
All News is not responsible for the content of external sites.

  1. https://radlab.org/
  2. https://hutanpapua.id/
  3. https://bangkutaman.id/
  4. https://rmolsorong.id/
  5. https://investigasi.id/
  6. https://www.transloka.id/
  7. https://www.desbud.id/
  8. https://allnews.id/
  9. https://karangtanjung-desa.id/
  10. https://barka.starcarehospital.com/
  11. https://mabela.starcarehospital.com/
  12. https://seeb.starcarehospital.com/
  13. https://bousher.starcarehospital.com/
  14. https://jaknaker.id/
  15. https://www.inklusikeuangan.id/
  16. https://starcarehospital.com/
  17. https://beechhotel.com/
  18. tradition-jouet.com
  19. agriculture-ataunipress.org
  20. eastgeography-ataunipress.org
  21. literature-ataunipress.org
  22. midwifery-ataunipress.org
  23. planningdesign-ataunipress.org
  24. socialsciences-ataunipress.org
  25. communication-ataunipress.org
  26. surdurulebiliryasamkongresi.org
  27. surdurulebilirkentselgelisimagi.org
  28. www.kittiesnpitties.org
  29. www.scholargeek.org
  30. addegro.org
  31. www.afatasi.org
  32. www.teslaworkersunited.org
  33. www.communitylutheranchurch.org
  34. www.cc4animals.org
  35. allinoneconferences.org
  36. upk2020.org
  37. greenville-textile-heritage-society.org
  38. www.hervelleroux.com
  39. crotonsushi.com
  40. trainingbyicli.com
  41. www.illustratorsillustrated.com
  42. www.ramona-poenaru.org
  43. esphm2018.org
  44. www.startupinnovation.org
  45. www.paulsplace.org
  46. www.assuredwomenswellness.com
  47. aelclicpathfinder.com
  48. linerconcept.com
  49. palembang-pos.com
  50. dongengkopi.id
  51. jabarqr.id
  52. wartapenilai.id
  53. isrymedia.id/
  54. onemoreindonesia.id
  55. yoyic.id
  56. beritaatpm.id
  57. kricom.id
  58. kongreskebudayaandesa.id
  59. puspresnas.id
  60. ubahlaku.id
  61. al-waie.id
  62. pencaker.id
  63. bpmcenter.org
  64. borobudurmarathon.id
  65. festivalpanji.id
  66. painews.id
  67. quantumbook.id