Tuesday
April 28
2020

Coronavirus Is Triggering Deep Digital Change in African Fintech

By Ken Njoroge

The ongoing COVID-19 pandemic continues to wreak havoc on the global economy.

This crisis has become the single biggest catalyst for a digital transformation.

For organisations and business, not just in the continent, digitizing has moved from a good to have, to a survival gamechanger in what has become the new norm.

Within just months, the world has been flung into ‘Digitization Unusual’ as businesses seek ways to stay above water and ensure continuity post-crisis.

Rapid changes in consumer behaviour and diverse demands are forcing organisations to reinvent their business models to enable the delivery of their goods and services online. Digital payments have now become a critical service.

Photo courtesy of WorldRemit Comms.

Source: The Africa Report (link opens in a new window)

Categories
Coronavirus, Finance
Tags
cashless, coronavirus, digital finance, emerging markets, fintech