David Porteous and Arend Kulenkampff on how fintech innovation can help achieve faster inclusive growth in Kenya, Egypt, Nigeria and South Africa.
This blog, the authors write, is the first in the Recovtech project series which is engaging policy makers and private sector innovators in the above four leading African economies on how best to promote domestic ecosystems for fintech, which support inclusive growth in COVID-19 recovery.
Together, these four countries contain around one third of Africa’s population, but contribute closer to half (44%) of the continent’s economic activity (measured by nominal GDP 2019). Fintech innovations which originated in these countries have already diffused and affected the rest of the continent.
In the next blog, the authors develop further the metaphor of trees and ecosystems to investigate the distinctive characteristics which shape the nature, pace and type of fintech innovations in domestic markets.
