2020 was set to be a monumental year for the African FinTech sector. Almost all companies operating in the sector were expecting rapid growth fueled by increasing consumer adoption and advancements in regulatory controls.
Little did anyone think that by April, economies across the world would grind to a halt, tourism would all but disappear and consumers would be confined to their homes.
I’m pleased to say, that as of the time of writing this report (July 2020), there are significant signs of a recovery. FinTechs, by and large, have adapted quickly and are refining products and services to meet the ‘new normal’, new business and consumer demands.
We spoke to 18 leaders in the FinTech sector across Africa to get their views on how business will evolve, what challenges they’ve faced during and how they plan to adapt their people strategy.
Simultaneously to the interviews, we ran a survey to our database of FinTech professionals not in leadership positions but working in the sector to gauge their thoughts, insights and future plans. The findings were insightful and we explore thealignment as well as dichotomies in this document.
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