Fintechs Accounted for Over 30% of Tracked Kenyan Tech Startups in 2022 — Examine

As of November 2022, Kenyan fintechs accounted for 30.2% or 93 out of the 308 tracked tech startups, a Disrupt Africa research lately discovered. As well as, the research findings present that the fintech sub-sector alone accounted for 3,100 or 27% of the 11,462 folks that had been employed by tech startups throughout the identical interval.

Fintechs Fixing Elementary Issues

In line with the findings of a research on Kenya’s startup area, fintech ventures alone accounted for simply over 30% or 93 out of the 308 tracked startups. This determine is sort of thrice greater than that of the closest challengers, specifically agri-tech and e-health, which each accounted for 10.1% of Kenya’s tech startups that had been tracked between January and November 2022.

Fintechs Accounted for Over 30% of Tracked Kenyan Tech Startups in 2022 — Study
Supply: Disrupt Africa

Nonetheless, as defined in Disrupt Africa’s research report on the Kenyan startup ecosystem, the dominance of fintechs isn’t uncommon.

“Fintech takes the highest spot in most African nations because it solves basic issues for the populace, is an space through which novel tech options are typically nicely acquired and rapidly adopted, in addition to providing engaging returns for traders,” the report stated.

Remittances and Lending Extra Widespread Classes

Moreover accounting for the most important share of tech startups, fintechs additionally employed extra staff (3,100) than different sub-sectors. Agritech and e-commerce are the one different tech sub-sectors that employed greater than a thousand staff.

Supply: Disrupt Africa

In the meantime, as proven by the research’s breakdown of the fintechs’ areas of focus, remittances (24%), in addition to the lending and financing (21%) area, seem like the extra widespread classes. In line with the report, a part of the explanation for that is that “these areas cowl lots of the most basic monetary providers which are nonetheless missing for a lot of the inhabitants.” The report added that such classes have been “the jumping-off level for fintech ecosystems continent-wide.”

Regarding the tech startups’ use of blockchain, the research discovered that 12 of the 30 blockchain-based ventures are fintechs. E-health (6) and agri-tech (5) are ranked second and third, respectively.

Register your e mail right here to get a weekly replace on African information despatched to your inbox:

Tags on this story

What are your ideas on this story? Tell us what you assume within the feedback part under.

Terence Zimwara

Terence Zimwara is a Zimbabwe award-winning journalist, creator and author. He has written extensively concerning the financial troubles of some African nations in addition to how digital currencies can present Africans with an escape route.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This text is for informational functions solely. It’s not a direct provide or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, providers, or corporations. doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, straight or not directly, for any injury or loss brought on or alleged to be attributable to or in reference to the usage of or reliance on any content material, items or providers talked about on this article.

Learn disclaimer


Leave a Reply

Your email address will not be published. Required fields are marked *