News & Analysis: FinTech

African Venture and Startup Predictions for 2021

“The COVID-19 pandemic has upended the African continent, and at the same time accelerated major innovative breakthroughs, including in talent marketplace businesses, pay-as-you-go platforms, and decentralized finance.”

via CSIS

COVID-19: Making the case for robust digital financial infrastructure

“We find that effective programs have three critical structural features of financial infrastructure: digital payment channels, the presence of a basic digital identification system with broad population coverage, and simple data on individuals and businesses that are tethered to the ID.”

via McKinsey Global Institute

E-Conomy Africa 2020: Africa’s $180 billion Internet economy future

“Africa’s Internet economy is transforming development on the continent by fostering economic opportunities, creating jobs, and providing innovative solutions to complex challenges, like access to healthcare, education, and finance.”

via IFC

The Case for Digital Identity in Africa during and post-COVID-19

COVID-19 Africa Watch talks to Tunde Fafunwa, Lead Advisor for the UNECA Digital Centre for Excellence, about the importance of digital identity for economic recovery.

via COVID-19 Africa Watch

Banks accelerating digitisation in wake of COVID-19

“COVID-19 has accelerated the move towards full-spectrum digitisation of banking services. While the process has been at an advanced stage in countries like Kenya, other African nations, such as Nigeria, are adapting rapidly.”

via African Business Magazine

Africa’s booming tech hub of Lagos braces as pandemic bites

“Over the past five years, Lagos has become Africa’s fintech centre and the continent’s most vibrant tech hub, attracting large investment in financial networks across Africa.”

via Financial Times

2020 Global COVID-19 FinTech Regulatory Rapid Assessment Study

“COVID-19 has forced many regulators to reconsider the foundational building blocks of their digital infrastructure.”

via World Bank

African money transfer firms thrive as pandemic spurs online remittances

“The pandemic gave remittance companies an advantage over their main competition in Africa: the sprawling informal networks of traders, bus drivers and travellers used by many migrants to send money home.”

via Reuters

COVID-19 and migrant remittances: Supporting this essential lifeline under threat

“Facilitating remittance flows is one of the best ways to directly support people in need, provide an economic boost to countries, and thereby quicken an international recovery.”

via Brookings Institution

COVID-19 has increased hunger in South Africa. So what works best to improve access to food?

“South Africa’s expansion of social grants during lockdown was a good move — new evidence shows such cash transfers are effective in reducing food insecurity. But the country may need more of these and may also have to increase their amounts.”

via Bhekisisa Centre for Health Journalism