East Africa’s Fintech Boom: What’s Driving It and What Comes Next

East Africa experienced a fintech revolution. Once defined by limited banking infrastructure, the region now stands at the forefront of Africa’s digital financial future, with fintech startups driving innovation, investment, and financial inclusion.

The seeds of this fintech boom were sown in 2007 with the launch of M-Pesa in Kenya, a mobile money platform that allowed millions to send and receive money without a bank account. This innovation not only transformed Kenya’s economy but also set a blueprint for the region. Today, fintech in East Africa has evolved far beyond mobile money, encompassing digital lending, wealth management, insurance, and SME financing, among others.