A FinTech Revolution: Power to the People
Harnessing the power of new technologies to increase access and transparency
Mobile money accounts now surpass bank accounts in Africa and greater financial inclusion has benefited large parts of the population including women. Building on this success, a wave of innovative fintech companies are breaking down traditional barriers to investment. New technologies are being developed with enormous potential to transform lives, foreign investment is pouring in to the continent and more than half the population of Sub-Saharan Africa will be subscribed to a mobile service by 2025, putting the power of access into the hands of individuals. Africa could well be on the cusp of a revolution with blockchain technology already being implemented in a number of areas such as public services, energy and agriculture. Transparency lies at the heart of Blockchain and other decentralised systems, but how it will it impact consumers – are they ready for a revolution?