Already a hotbed for fintech, Africa could be looking at a banking boom in the coming years. According to analysis by McKinsey partner Mayowa Kuyoro and coauthors, the continent’s financial-services market is expected to grow at about 10 percent a year through 2025, reaching approximately $230 billion in revenues. Wallets and payments are among the services that could see significant growth.
To read the article, see “Fintech in Africa: The end of the beginning,” August 30, 2022.