By: Eden D’Oliveira, Benita Morgan, Owolabi Taiwo, Simon Hardie, David Saunders and Ziannah Muddu
In 2020, the Africa Fintech Network (AFN), in partnership with findexable and Cenfri, launched the Africa Fintech Radar project. This ongoing initiative strives to showcase and track fintechs operating in Africa through a live listing.
The Radar provides critical information to understand the challenges, opportunities and levers for fintech to support a more inclusive and dynamic financial sector. The listing draws from three groups of metrics – 1) a quality score based on the size and success of fintech companies in a location, 2) a quantity score based on the number of firms, and 3) an ecosystem score using selected metrics from the Doing Business Indices, Africa Fintech Associations, and ongoing survey data.
To realise the promise of fintech in improving the social and financial wellbeing of all citizens requires accurate, up-to-date and unbiased data is needed to build a dynamic bridge between local fintech talent, wider innovation initiatives, and opportunities.