EXPERTS Building the fintech ecosystems in Africa 4 years ago Adeleye Awakan Post Views: 889 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 UGANDA Differences in gambling laws in Africa vs other parts of the world 18 hours ago Samuel CASINO EXPERTS Do People Actually Win Money Playing Slots? 18 hours ago Szarlot EXPERTS NIGERIA Don’t miss the Africa Gaming Expo Conference 2024! 2 days ago Samuel EXPERTS SOUTH AFRICA Big Africa Summit coming in March 3 days ago Iwo Bulski EXPERTS KENYA Kenya Cracks Down On Crypto To Avoid Financial Blacklist 3 days ago Samuel EXPERTS HOT NEWS UGANDA Comtrade gaming rolls out central monitoring system in Uganda 4 days ago Szarlot EXPERTS KENYA Betting Board Launches Renewed Campaign On Illegal Gambling Dens 4 days ago Szarlot EXPERTS NIGERIA Joining us as a speaker at AGE Lagos is Olajide Boladuro 7 days ago Samuel EXPERTS Booming Games Enters African Market Via BetFounders Partnership 1 week ago Iwo Bulski EXPERTS NIGERIA Changes and Challenges in Nigeria’s Gambling Industry 1 week ago Samuel EXPERTS NIGERIA Zu Tohtayeva will be joining us as a speaker at AGE LAGOS 2024 1 week ago Samuel EXPERTS GHANA GRA’s 10% tax on games of chance: A double-edged sword? 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.