Of them flagships of the Nigerian ecosystem of startups, Moove and Flutterwave are on the verge of taking African fintech to a dimension never reached before.
On August 31, Moove, which specializes in financing taxi transport providers, entered into an agreement with Mitsubishi UFG Financial Group and Suzuki in order to “strengthen” its financial resources and its offer to its customers. On his side, Flutterwavewhich has just obtained a license as a payment company, aims to enter the Lagos Stock Exchange and the Nasdaq, the famous American market for technology stocks, reports the Bloomberg agency.
In the big leagues
Flutterwave CEO, Defender
By aiming so high, these two fintechs symbolize the new ambitions displayed by the young financial shoots of the continent, totally uninhibited. This dynamism is also reflected in investor confidence. Thus, in 2021, the startups African companies have raised 6 billion dollars, 2/3 of which have been mobilized by fintechs. According to projections by the consulting firm Partech Africa, fintech revenue in sub-Saharan Africa might reach $30.3 billion by 2030, more than the revenue brought in by commodity exports. This is the beginning of a radical transformation of the economies of the region if governments become aware of it by supporting the dynamism of fintechs with proactive policies.