I work in digital finance.\u00a0 \u00a0Since 2015, I’ve been focused on the ecosystem in Africa, launching four products and one marketplace.\u00a0 It’s clear that digital lending will continue its phenomenal growth in Africa.\u00a0 This has the trajectory of the Chinese explosion in credit over the last 15 years.\u00a0 In Africa, it’s the easy access, fast transaction times and private aspect of the products appeal most to customers.\u00a0 \u00a0Even if products haven’t evolved much in the space, they still continue to meet the needs of their users.\u00a0 Customer’s don’t yet need full banking services on their phones, but it’s clear that banks need digital lending services for their customers.\u00a0 And banks are behind the curve on that.\u00a0 It’s been mostly startups that have carved up the space\u00a0in Africa.\u00a0 Companies like Jumo, Zoona, Branch and Tala are all far ahead of the leading banks.<\/p>\n
These companies are building economic moats through products that would take the banks years to put together.\u00a0 They are developing insights and intellectual property that is unparalleled at banks.\u00a0 If you consider what the Chinese fintechs are raising<\/a>\u00a0vs what the African fintechs are raising\u00a0\u00a0<\/a>it looks like the African players are still undervalued.\u00a0 China is a massive market, and Africa is many different markets, but the fintechs\u00a0here are cracking those markets, and that’s just making them more anti-fragile. I think we will start seeing some fintechs\u00a0from Africa move East and be successful before we see the reverse happening.\u00a0 That’s a bold bet, but I’m willing to stick by it.<\/p>\n <\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" I work in digital finance.\u00a0 \u00a0Since 2015, I’ve been focused on the ecosystem in Africa, launching four products and one marketplace.\u00a0 It’s clear that digital lending will continue its phenomenal growth in Africa.\u00a0 This has the trajectory of the Chinese explosion in credit over the last 15 years.\u00a0 In Africa, it’s the easy access, fast […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-513","post","type-post","status-publish","format-standard","hentry","category-fintech"],"blocksy_meta":[],"_links":{"self":[{"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/posts\/513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/comments?post=513"}],"version-history":[{"count":1,"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/posts\/513\/revisions"}],"predecessor-version":[{"id":514,"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/posts\/513\/revisions\/514"}],"wp:attachment":[{"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/media?parent=513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/categories?post=513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jongore.com\/blog\/wp-json\/wp\/v2\/tags?post=513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}