African fintech startups are diversifying to scale up ...Middle East

Quartz - Economy
African fintech startups are diversifying to scale up
source : Quartz ( Middle East ) () 15
Increasingly, African fintech startups are moving from focusing on niche areas such as payment, lending insurance, and investment, to offering a wide range of complementary services. This is according to a new report by Disrupt Africa, a website for news on African startups.Almost 25% of the fintech startups tracked this year are operating in multiple categories. This is up from 15% in 2019 and 8% in 2017. The report is based on data from 576 fintech startups in Africa. The website defines fintech startups as those that disrupt traditional financial services and challenge incumbent service providers.This diversification is driven by the startups’ need to expand, says Tom Jackson, co-founder

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