Africa’s financial-technology company revenue may soar to $30.3 billion by 2025, eight times higher than in 2020, as a growing, young and under-banked population gets more access to the internet, McKinsey & Co., has said.
The anticipated increase is part of a rapid expansion in financial services income that’s expected to grow to $230 billion from $150 billion over the same period, the consulting company said in a research report.
Financial services revenues in Ghana and francophone West Africa will enjoy the fastest growth, with Nigeria and Egypt the next quickest, it noted.
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