A recent report has revealed that 31.2 per cent of all African fintech startups are based in South Africa. Nigeria, and Kenya follow behind in second and third place respectively.
South Africa is home to the most fintech startups in Africa, with 94 startups active in the country.
According to the Finnovating for Africa: Exploring the African Fintech Ecosystem Report 2017 released by Disrupt Africa, 31.2 per cent of all African fintech startups are based in South Africa. Nigeria, and Kenya follow behind in second and third place respectively.
Of the nine fintech sub-categories covered by the research, the payments and remittances space proves most popular among South African entrepreneurs, with 32 per cent of the country’s fintech startups active in this area.
The lending and financing space came in as second most attractive, with 23 per cent of startups operating in this niche.
South African fintech startups also raised the most amount of funding on the continent, securing US$55,118,000 in the 29 months tracked in the report – accounting for almost 60 per cent of all investment flowing into Africa’s fintech sector.
“At Disrupt Africa, we have seen support for fintech startups in South Africa skyrocket over the past three years. The data in this report attests to the thriving fintech ecosystem in the country, which combines the efforts of entrepreneurs, investors, incubators, local governments, and financial services providers,” said Gabriella Mulligan, Disrupt Africa co-founder.
“South African fintech startups are amongst the most privileged on the continent when it comes to the support available to them from the likes of accelerators and banks, and as a result the scene is thriving. As with elsewhere on the continent, local startups in the fintech sector are developing critical solutions that will really make a difference to the lives of many, many people,” said Tom Jackson, co-founder of Disrupt Africa.
For more information or to purchase the report please visit disrupt-africa.com/finnovating-for-africa or email Gabriella on email@example.com, or Tom on firstname.lastname@example.org.
About Disrupt Africa
Launched in November 2014, Disrupt Africa is a one-stop-shop for all news, information and commentary pertaining to the continent’s tech startup – and investment – ecosystem.
With journalists roaming the continent to find, meet, and interview the most innovative and disruptive tech startups, Disrupt Africa is a true showcase of Africa’s most promising businesses and business ideas.
Our readers can keep up-to-date with the quirky world of tech hubs and accelerator programmes; and our reporters provide live coverage of the all-important tech and entrepreneurship events across Africa.
For our startup, entrepreneur, and investor friends alike, our mission is to provide practical information and advice from across Africa’s varied vibrant markets, and to promote engaged and thought-provoking discussion about the exciting ecosystem we belong to.
AppDate: DStv taps Xbox, Hisense for app
DStv Now app expands, FNB gets Snapchat lens, Spotify offers data saver mode, in SEAN BACHER’s apps roundup
DStv Now for Xbox and Hisense
Usage of DStv Now, the online DStv service available free to DStv customers, is increasing rapidly with more than two million plays of live and Catch Up content per week. In addition to using DStv Now to watch TV on tablets and smartphones, an increasing number of DStv customers are also opting to use it as their primary method of getting DStv on additional TVs in the house. This is set to increase with the release of two new big-screen TV apps, one for Xbox gaming consoles (Xbox One, Xbox One S, Xbox One X) and another for Hisense smart TVs (2018 and newer models).
Expect to pay: A free download.
Platform: Any of the Xbox One range of gaming consoles and 2018 or later Hisense smart TVs.
Stockists: Visit the store linked to your Xbox console or HiSense smart TV.
Santam Safety Ideas
Start-up businesses that have a FinTech or InsurTech business venture brewing are called to enter the third annual Santam Safety Ideas competition. Safety solutions or InsurTech ventures that are ready for piloting could win up to R150 000 worth of incubation support and R200 000 in seed funding.
The Safety Ideas competition was launched two years ago in partnership with LaunchLab, Stellenbosch University’s startup incubator that facilitates valuable connections for corporates and startups sourced from the startup ecosystem and partner universities in South Africa. The previous winners are Herman Bester and Anton Swanevelder, co-founders of MyLifeLine – a wearable panic device that won the competition last year; and Ntsako Mgiba and Ntandoyenkosi Shezi, co-founders of Jonga – a cost-effective security system for low income families, which won the competition in 2017.
Entries close on 28 February 2019. For more information on how to enter, visit: www.santam.co.za/safetyideas/
Click here to read about the FNB Snapchat lens, Spotify Free with data saver, and 00:37.
Fortnite fixes hackers’ hole
Epic Games has repaired a vulnerability that exposed Fortnite, the world’s most popular game of the moment, to hackers. The hole, which was left in Epic’s web infrastructure, allowed hackers to target players with email that appeared to come from Epic Games, but would have led them to a phishing site, where their log-in details would have been stolen.
Researchers at cyber security solutions provider Check Point Software alerted Epic to vulnerabilities that could have affected any player of the hugely popular online battle game.
Fortnite has nearly 80 million players worldwide. The game is popular on all gaming platforms, including Android, iOS, PC via Microsoft Windows and consoles such as Xbox One and PlayStation 4. In addition to casual players, Fortnite is used by professional gamers who stream their sessions online, and is popular with e-sports enthusiasts.
If exploited, the vulnerability would have given an attacker full access to a user’s account and their personal information as well as enabling them to purchase virtual in-game currency using the victim’s payment card details. The vulnerability would also have allowed for a massive invasion of privacy, as an attacker could listen to in-game chatter as well as surrounding sounds and conversations within the victim’s home or other location of play.
While Fortnite players had previously been targeted by scams that deceived them into logging into fake websites that promised to generate Fortnite’s ‘V-Buck’ in-game currency, these new vulnerabilities could have been exploited without the player handing over any login details
Click here to read how the Fortnite hack worked
To win a set of three Fortnite Funko Pop Figurines, click here.