Wednesday
November 24
2021

Global Investment Money Is Flooding Into Africa’s Fintechs

By 

Ricky Rapa Thomson was a security guard and then a motorbike taxi driver before he became an entrepreneur. SafeBoda, the startup he co-founded, promises safe and reliable transport on Uganda’s deadly streets. It also offers fintech solutions for its drivers and customers and hopes to become Africa’s largest ride-hailing service.

It’s the kind of fairy-tale story that tech investors usually love. Yet it’s also the sort of pothole-filled journey that overseas capital has traditionally avoided in Africa, preferring instead to focus on extractive industries like mining or on infrastructure projects.

Photo courtesy of Eric O. IBEKWEM.

Source: Aljazeera (link opens in a new window)

Categories
Finance, Technology
Tags
financial inclusion, financial services, fintech, funding, investment, mobile money, technology