The big tech and innovation trends in Africa for 2018

Trends

This year, as is the case almost every year, the availability of funding proved a major talking point among African tech founders and innovators.

In 2018, however, there was reason to cheer as halfway through the year, startup funding had reached $168.6 millionsurpassing last year’s total. Crucially, there was more venture capital closer to home for startups as Partech Ventures launched a $100 million pan-African fund. Indeed, much of that increased investment was largely thanks to the hot streak of  fintech companies, including big-ticket investment deals like Cellulant’s $47.5 million Series C round.

Fintech companies across the continent providing key services in loans, savings and payment, have been increasingly rewarded with investment and significant nods. For instance, global payment giants have endorsed Nigerian fintech companies. However, fintech momentum in Nigeria, Africa’s largest economy, may be slowed by proposed regulation by Nigeria’s central bank which could make it more expensive for local fintech startups to operate. Continue reading

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