Nigerian fintechs lead African peers as funding falls by 77%

Nigeria remains the frontrunner in Africa's fintech sector, accounting for 44 percent of the total fintech funding raised across Africa in the first half of 2024, according to a new report by FutureMaters. The report on the State of Fintech in Africa: First Half 2024 disclosed that despite an overall decline in investment across the continent’s fintech sector, Nigeria accounted for 44 percent of the total fintech funding, followed by Cote d'Ivoire with 21 percent, and South Africa with 11 percent. Other countries included Egypt with 11 pe