Africa has been a key focus for fintechs in recent years, helped in no small part by the Fintech Association of South Africa (FINASA). Perhaps more than any other entity, FINASA has been at the vanguard of fintech adoption in Africa, helping facilitate startups, world-class events, and much more.
Africa Emerging as a Fintech Hub
The African continent has certainly emerged as a fintech hub over the past few years. This has been driven by several factors and advantages inherent to the region.
Africa boasts a large and young population, as well as increased access to technology and mobile devices, and a rising need for financial services in underserved communities.
These forces, in tandem with the adoption and rise of advanced software, artificial intelligence (AI), mobile applications, and the automation of technologies have all been a huge benefit for African fintechs.
In terms of startups, African players have continued to show great promise in attracting investment and scaling their businesses. This speaks to the potential on the continent and the energy that exists for opportunities.
How the Fintech Association of South Africa is Leading the Way
The recent success of fintechs in Africa and the overall industry has been due to the efforts of many. That being said, FINASA continues to distinguish itself as one of the leading players and facilitators of venues in the region.
“Our mission is to promote financial inclusion, financial literacy, and responsible innovation in South Africa. We aim to develop trust in the community through transparent and ethical practices and to assist regulators in policymaking to ensure that the fintech industry operates in the best interests of consumers and the broader economy,” per FINASA’s mission statement.
Furthermore, “We also strive to position South Africa as the main tech hub of Africa, supporting the growth and development of the fintech sector in the region. Through these efforts, we aim to contribute to the overall financial health and well-being of the people of South Africa,” reiterated by Andres F. Perez, the Director of Fintech Association of South Africa.
For more information on FINASA and its efforts, access the following link to learn more about how the group is developing the African fintech space.
