Fintech Funding in Africa: Regional Breakdown
- West Africa raised $587 million in startup funding in 2024, with Nigeria alone accounting for nearly $400 million.
- East Africa attracted $725 million in funding in 2024, with Kenya securing $638 million, marking a significant lead over West Africa.
- Southern Africa's fintech funding dropped by 36% in 2024, with South Africa contributing 99% of the total funding.
The rapid growth of Africa's fintech sector presents both opportunities and challenges. While regions like West and East Africa are thriving, Southern Africa's decline in funding raises concerns about sustainability. Stakeholders must address regulatory inconsistencies and infrastructure gaps to fully capitalize on the continent's fintech potential.
