EXPERTS Building the fintech ecosystems in Africa 3 years ago Adeleye Awakan Post Views: 798 A healthy, robust regulatory FinTech ecosystem will enable growth opportunities for many sectors, including software, data analytics, payments, platforms, e.g. (peer-to-peer lending and trading), particularly the mobile banking which as been the backburner for the growth of gambling in Africa. A sign just how significant FinTech has become a global investment jumped three-fold between 2014 and 2018, reaching USD34.4 billion according to Statista. By some estimates, that investment will at least double again by 2022. Although most FinTech investment is currently in the US, which captures 80% of this spending, relatively little investment has occurred in Africa that could and should change many of the necessary elements exists in Africa to develop FinTech ecosystems. There is a good reason that the region has the collective will to give rise to these ecosystems and reap their broader economic benefits. A perfect, example South Africa has the highest numbers of crypto users in the World. Another country is Nigeria; the use of bitcoin is popular among youth. Establishing and nurturing a FinTech is difficult given the level of sustained collaboration that is necessary among stakeholders in the sector the governments, financial institution and entrepreneurs. For a FinTech ecosystem to function, it is imperative that each participant clearly understands its role, as well as benefits its stands to gain from involvement. Building a sustainable FinTech government must implement and enforce policies and a regulatory environment that will ease the developments of the FinTech ecosystem. Doing so, relax all business activity and hiring by financial service and technology firms, the gambling sectors, among others. It also improves overall competitiveness. Further, many of these financial institutions in Africa are stimulating their innovations by establishing a partnership with FinTech firms-to-Business owners. These partnership is strengthening the competitive position of financial intuitions, for example, the gambling sector the time frame for transactions is quick flexible and that freedom to access the services anytime, anywhere even if you are on the go is one of the great benefits of the FinTech ecosystem in Africa. About Post Author Adeleye Awakan Author E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. See author's posts Adeleye AwakanAuthor E-play Africa, sports betting reviews, thoughtful leardership articles in Africa gambling industry, marketing gaming platforms in Africa with strong networking relationship with gaming operators in Africa, Expertise in PR, marketing communication, and consultant on gaming in Africa. Facebook Twitter LinkedIn Email Print Tags: ecosystem, FinTech Continue Reading Previous Digital platforms are shaping the overall gambling ecosystemNext The dire consequences of gambling addiction in Africa More Stories EXPERTS RWANDA Adam Bradford launches centre to train youth in Rwanda 1 day ago Iwo Bulski EXPERTS KENYA BetEngines launches the first Sportsbook software solution tailor-made for the African market. 2 days ago Adeleye Awakan EXPERTS KENYA Ronald Karauri’s Inspiring Journey from Pilot to SportPesa Billionaire 2 days ago Szarlot EXPERTS KENYA Betting firms rush to comply with new tax regulations 3 days ago Samuel EXPERTS SOUTH AFRICA The Gambling Laws of South Africa 3 days ago Szarlot EXPERTS NIGERIA Paying deeper attention to our youths 4 days ago Samuel EXPERTS MOROCCO 6 Weeks Remain Until Gaming Industry Leaders Unite at GEFA 2023 5 days ago Iwo Bulski EXPERTS WORLD NEWS Restrictions on gambling 5 days ago Iwo Bulski EXPERTS WORLD NEWS ICE 2023 edition to be the biggest than last – say Stuart Hunter 1 week ago Iwo Bulski EXPERTS NIGERIA The current state of Crypto adoption in Nigeria 1 week ago Szarlot EXPERTS NIGERIA Google delists 5.6 million advertiser accounts 1 week ago Samuel BETTING EXPERTS How Technology Is Changing the Sports Betting Industry 1 week ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.