Africa needs equity capital to drive its digital transformation

The Millionaires’ Factory
28 February, 2023

Euromoney, June 30 2023

What African fintechs need is supportive regulation, local capital and the development of talent. Singapore wants to show them the way

Two vastly different yet curiously similar worlds met at the Inclusive Fintech Forum in a conference centre in Kigali in June. Rwanda was the host of the event, through its Kigali International Financial Centre; but just as prominent – and very much an enabler of the event – was Singapore.

The differences between a spotless Asian nation state that is the gold standard for efficiency in financial services and an African country that many people internationally associate chiefly with the 1994 genocide appear stark.

But there is more in common than you might think. Both are dwarfed by their neighbours in size and population. Singapore’s five million inhabitants on a single small island sit next to the 270 million of Indonesia, the world’s 15th largest country by land mass. Read more here

Chris Wright
Chris Wright
Chris is a journalist specialising in business and financial journalism across Asia, Australia and the Middle East. He is Asia editor for Euromoney magazine and has written for publications including the Financial Times, Institutional Investor, Forbes, Asiamoney, the Australian Financial Review, Discovery Channel Magazine, Qantas: The Australian Way and BRW. He is the author of No More Worlds to Conquer, published by HarperCollins.

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