Africa’s most promising FinTech companies

The African continent has proven to be a fertile soil for the development of financial technology (FinTech) companies. 2019 may become a very important year for the development of a range of technologies, from mobile money transfer apps and online lending platforms to tech firms determined to help users save money.

Ventures Africa has compiled a list of the most promising FinTech on the continent. Many of them are Nigeria-based, such as Paystack, KiaKia, Paylater, Lidya and Paga. The list of companies to watch this year includes:

-          AppZone, a provider of banking and payment solutions. This company has registered about 2 million accounts and issues over 30,000 cards and processes 100,000 transactions daily.

- provides access to financial products through phone numbers. With a wallet account, users can make payments for utility bills, recharge, and send money.

-          ChatPay allows users to perform financial transactions directly from some social media channels.

-          VoguePay is an online payment processor that offers buyers and sellers a secure and easy-to-use means of transacting business online.

-          CowriePay is a payment gateway that allows customers to buy now and pay later.

-          RenMoney MFB Limited is a consumer finance organization with expertise in the provision of simple money solutions.

-          eTranzact is Nigeria’s multi-application and multi-channel electronic transaction switching and payment processing platform. eTranzact has operations in Nigeria, Ghana, Kenya, Zimbabwe, South Africa, Cote d’Ivoire, and UK.

-          Remita is an e-payments and e-collections solution on a single multi-bank platform.

-          Flutterwave provides the underlying technology platform that allows businesses to make and accept payments anywhere in Africa.

- is a platform that works directly with financial institutions with the aim of enabling users to save small amounts of money periodically (daily, weekly or monthly) without thinking about it.

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