Fintech

We’ll Establish Fintech Fund With A Seed Capital Of $100M – Bawumia
19 Aug

We’ll Establish Fintech Fund With A Seed Capital Of $100M – Bawumia

wontumionlineBusiness,
The New Patriotic Party (NPP) flagbearer, Dr. Mahamudu Bawumia has pledged to establish a Fintech Fund with an initial seed capital of $100 million if he is elected President in the upcoming December elections. At the unveiling of the party’s manifesto on August 18 in Takoradi, Dr. Bawumia highlighted that the fund aims to attract additional private sector investment to support Ghanaian start-ups focused on developing innovative payment and financial services solutions. He also committed to working closely with the Bank of Ghana to expand the Regulatory Sandbox significantly, allowing more Ghanaian and regional FinTechs to participate. This initiative is…
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African Fintech Market Poised For Exponential Growth, Forecasted To Reach $150 Billion By 2025
10 Jan

African Fintech Market Poised For Exponential Growth, Forecasted To Reach $150 Billion By 2025

wontumionlineBusiness
Fintech in Africa is predicted to grow by 10% annually through 2025, reaching a total of $150 billion (excluding South Africa). The success of fintech companies in Africa is driven by trends such as increasing smartphone ownership, declining internet costs, expanded network coverage, and a young, rapidly growing and urbanizing population. Key markets for fintech growth in Africa include Cameroon, Côte d'Ivoire, Egypt, Ghana, Kenya, Morocco, Nigeria, Senegal, South Africa, Tanzania, and Uganda, which together account for 70% of Africa's GDP and half of its population. According to research from McKinsey, the fintech market in Africa is expected to increase…
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