Major fintech funding hubs in Africa include Nigeria, South Africa, Egypt, and Kenya, although emerging markets like Rwanda and Senegal are starting to gain attention.

Noteworthy early-stage deals include Moniepoint achieving unicorn status after raising $110 million, and Khazna securing $16 million to expand its services in Egypt and Saudi Arabia.

Technological innovations, such as AI and blockchain, are enhancing operations and fraud detection, with mobile internet users in Africa projected to reach 475 million by the end of 2025.

Looking ahead, McKinsey forecasts a potential surge in fintech revenue, predicting nearly 10% annual growth from 2023 to 2028, alongside the rise of alternative funding sources like venture debt.