The prevalence of cash-based payments, account ownership and usage, and savings and credit in the region among the main reasons in regional differences in the adoption of fintech.
The firm is using the money to install pay-as-you-go solar home systems across Kenya, Rwanda, Togo, the Democratic Republic of Congo, Mali, Senegal and Guinea.
The new report covers data from platform activity in 52 countries in Africa and the Middle East, and includes survey data from over 77 alternative finance platforms reporting activity in the 2016 calendar year.
African and Middle Eastern online alternative finance markets are showing signs of decelerating growth, a study points out.
East African Regulators can Facilitate Crowdfunding Market Development. [REPORT]