More and more African countries are joining the top 100 global league of fintech hubs, as a wave of innovation washes over the continent. The latest global rankings show Africa topped the list of new entrants, with seven out of 18 new fintech hubs found in Africa.
Seychelles is among the new entrants, shooting to position 59, followed by Rwanda (61), in the Findexable Global Fintech Rankings Report 2021 titled, Bridging the Gap.
Tunisia and Zimbabwe are ranked position 68 and 76 respectively, while Somalia (79), currently experiencing a business re-awakening, is seeing its citizens transact more and more via payment apps linked to mobile network providers.
Cameroon (80), ranked as a lower-middle-income country and Ethiopia (83), have also officially joined the league of global fintech hubs, with more than 10 privately-owned fintech companies each.