Home Business Africa Springs Fintech Surprise With 41% Growth!

Africa Springs Fintech Surprise With 41% Growth!

by K. Vatsala Devi

Wildlife and diamonds are two of the many things that come to mind when Africa is mentioned and aptly too. More than half the world’s diamonds are mined in Africa while Kenya, Tanzania, and South Africa are home to some of the protected species. But did you know another diamond in the rough emerging from Africa is Fintech, where in-app purchasing revenue numbers soared between July and September, with a 136% increase compared to the previous three months.

Mobile marketing analytics report launched by AppsFlyer, the global marketing measurement leader, has launched a report with Google that reveals a booming African mobile app market, propelled by a growing fintech space, a rise in ‘super apps’, and the COVID-19 pandemic amongst other factors. It recorded a 41% growth across the continent. Nigeria showed the highest growth, with a 43% uplift, followed by 37% in South Africa, and 29% in Kenya.

Read Africa records boom in the Fintech Space as Nigeria tops Mobile App Market report for more insights.

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