Move over 'tech bros': Women entrepreneurs join Africa's fintech boom
by Nita Bhalla

Thomson Reuters Foundation    Translate This Article
7 March 2022

On 7 March 2022 Thomson Reuters Foundation reported: From digital payments, loans and insurance to share trading and cryptocurrency, Oluwatosin Olaseinde is among a growing number of female entrepreneurs in nations such as South Africa, Nigeria, Kenya, and Egypt taking a lead in Africa's fintech revolution. Since pioneering mobile money services in the late 2000s, Africa has become a hotbed for fintech -- financial technology -- innovation with an explosion of startups vying to tap the region's unbanked millions. But while the sector is very much a 'boys' club', research shows Africa's fintech sector fares better than other regions when it comes to women at the top. Global Good News service views this news as a sign of rising positivity in the field of business, documenting the growth of life-supporting, evolutionary trends.

Around 3.2 percent of fintech firms in Africa are founded solely by women -- double the global average of 1.6 percent, according to Findexable, a market research company that tracks gender diversity.

The continent's fintechs also have more female board members compared with other regions, Findexable's 2021 data shows.

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