FinTech has the potential to revolutionize payment systems and lending services in Africa, thereby enabling an improvement in financial inclusion. A report by McKinsey & Company3 states that “African private consumption expenditure [is] growing at 4.8% per annum and is anticipated to continue to 2025.” A projected increase in consumption expenditure is one trend that can aid the acceleration of FinTech in Africa.

List and briefly outline notable trends, other than the projected growth in consumption expenditure that can aid the acceleration of the growth of FinTech in Africa

List and briefly outline the key constraints that can inhibit the growth and development of FinTech in Africa.

Answer rating: 100% (QA)

Trends Aiding FinTech Growth in Africa 1 Mobile Phone Penetration The widespread adoption of mobile ... View the full answer