Over the first 9 months of 2021, African fintechs have already broken the resource mobilization record of the past 10 years. These companies are positioning themselves as the next growth driver for private equity.

After collecting a set of data, the Ecofin Agency concludes that African companies specializing in technology solutions associated with financial services (fintech) have already mobilized more than $1.44 billion since the beginning of this year 2021. This figure does not take into account 23 transactions announced over the period, but the value of which has not been made public. In total, at least 196 investors have intervened, in the context of 71 transactions recorded until September 9, 2021. This value was driven by the $500 million from the Singaporean sovereign wealth fund Temasek for the benefit of the investment firm Leapfrog, which should use some of these resources to invest in fintech in the region. The other transactions which have sustained the dynamism of the sector are that of the firm Wave, active in Senegal and Côte d'Ivoire, which mobilized $200 million and that of the Nigerian OPay which raised $400 million.