Africa’s Fintech Rise: 10 African Fintech Startups to Watch in 2026

“Fintech creates opportunities for people across income levels, from low-income earners to high-income individuals” – Tidiani Togola, President and Founder of Civic Tech firm, Tuwindi.

The Fintech industry has dominated the African market with major players transforming the industry and expanding Africa’s fintech dominace on the global stage. It has become more than just a fleeting trend but a revolution that is fundamental to restructuring and boosting the continent’s economic growth.

From mobile money, a domain where Africa has been a global pioneer, to the burgeoning realms of embedded finance, blockchain, and neo-banking, fintech is solving deep-seated challenges related to financial inclusion, cross-border trade, and access to capital. With Africa’s projected population growth of an additional 1.2 billion people by 2050, fintech’s rapid success is expected to rise, with key estimates pointing to significant growth – $30 billion in fintech revenues and a broader $230 billion in industry revenues by 2025 – as the sector grows at an annual rate of 10 percent, according to a new report by McKinsey & Co.

Undoubtedly, the sector is a beacon of innovation and economic promise. Countries like Nigeria, Kenya, South Africa, and Egypt – often referred to as the “Big Four” – continue to dominate funding rounds. Interestingly, a second wave of innovation is emerging from French-speaking African countries, particularly in West Africa, Southern Africa, and the Horn of Africa, creating a more diverse and resilient ecosystem.

In an interview with Kajarbi54, Tidiani Togola, President and Founder of Tuwindi, a thriving civic tech firm in Mali, said fintech represents the future of finance in Africa and is central to the continent’s development agenda.

According to Togola, there can be no true financial inclusion without fintech, which he described as the pathway through which Africa can extend access to financial services across both rural and urban communities. He noted that fintech creates opportunities for people across income levels, from low-income earners to high-income individuals, ensuring broader participation in the financial system.

Togola emphasized the need for an enabling environment that supports innovation, warning against excessive regulations or punitive taxation that could stifle creativity and discourage participation. “Fintech must remain inclusive,” he said, adding that policies should encourage growth rather than limit it.

He also highlighted the role of mobile money in Mali, noting that it has become essential in facilitating business transactions and everyday payments. Togola said African populations are increasingly receptive to fintech solutions because they simplify daily life.

“What people want is not the technology itself, but the convenience it provides,” he said. “Fintech offers that convenience and is clearly the path toward a better financial future for Africa.”

In 2026, the Africa’s fintech sector is driven by high-growth startups focusing on payments, digital banking, and embedded finance, with top players, recognized for innovation in cross-border payments, biometrics, and AI-driven credit.

In this article, Kajarbi54 profiles ten of the most compelling fintech startups across the continent that are not just riding this wave but are actively creating it. Based on 2025 projections, as the 2026 rankings have yet to be released, here are 10 of Africa’s top fintech startups to watch, according to CNBC/Statista (2025).

The African Fintech Landscape: More Than Just Mobile Money

The year was 2007 when Kenya shook the world with its very own fintech creation – M-Pesa. It is widely recognized as the world’s first successful large-scale mobile money transfer service. Over the years, other startups were inspired by it, drastically transforming the fintech ecosystem. Today, startups are building on this foundational infrastructure, layering advanced technologies to create solutions in:

• Payments and Remittances: Facilitating cheaper, faster domestic and cross-border transactions.
• Lending: Using alternative data for credit scoring to serve individuals and SMEs historically excluded from formal banking.
• WealthTech/Investment: Providing access to capital markets, cryptocurrencies, and other investment vehicles.
• InsurTech: Delivering micro-insurance products tailored to specific needs and income flows.
• Neobanking: Offering digital-first banking experiences without the legacy infrastructure.

Methodology: How We Selected the Startups to Watch

Our selection was based on the CNBC/Statista (2025) list of 10 of Africa’s top fintech startups to watch. Presented in no particular order, these organizations were selected based on multifaceted criteria, focusing on:

• Innovation: Unique technology or business model solving a critical problem.
• Scale and Traction: Demonstrable user growth, transaction volume, or geographical expansion.
• Impact: Contribution to financial inclusion and economic development.
• Funding and Investor Confidence: Recent capital raises from reputable investors.
• Resilience: Ability to navigate a challenging global funding climate in 2023-2024.
• Regional Diversity: Highlighting innovation across Anglophone and Francophone Africa.

Africa’s Top 10 Fintech Startups to Watch in 2025

1. Moniepoint (Nigeria/UK) – Unicorn SME Banking & Payments Platform

Moneypoint is a leading African digital financial services platform providing all-in-one banking, payment, credit, and business management tools for millions of businesses and individuals, particularly powering Nigeria’s offline economy with extensive Point of Sale (POS) terminals and microfinace bank services to help entrepreneurs grow.

• Why Watch in 2026: Moniepoint is one of Africa’s fastest-growing companies, driven by rapid expansion, an innovative approach to financial inclusion for small and medium-sized enterprises (MSMEs), strategic partnerships, and growing global recognition.
  

2. Opay (Nigeria) – Pioneering Asset Financing via Pay-As-You-Go

One of the leading fintech platform in Nigeria, Opay offers a mobile money app for instant transfers, bill payments, savings, loans, and merchant services, aiming to boost financial inclusion for unbanked populations through secure, fast digital financial solutions, with a strong focus on users and businesses and other emerging markets. It provides features like free bank transfers, POS services for merchants, and a debit card, all while being regulated by the Central Bank of Nigeria (CBN)

• Why Watch in 2026: Opay is redefining the way Nigerians transact. Its reach also extends to people in the grassroots. With fast and convenient payments, Opay offers an all-in-one app for payments, transfers, data, bills, savings, and loans, supported by a vast agent network for physical access. By mid-2024, Opay boasted nearly 10 million daily active users and over 50 million registered users, reflecting massive adoption and engagement.

3. myFawry (Egypt) – Leading e-payments giant in Egypt

Recognized as Egypt’s leading e-payment platform, myFawry is a consumer-facing app that is revolutionizing digital transactions, playing a pivotal role in digital transactions and financial inclusion for both banked and unbanked populations. It offers over 800 services like bill payments, mobile top-ups, donations, and fines through an extensive network of agents, ATMs, and online channels, connecting both banked and unbanked users for convenient, accessible financial management.

• Why Watch in 2026: It is a pioneer in Egypt’s fintech scene, transforming payment methods. myFawry is strategically partnering and innovating to broaden its financial services beyond simple payments and accelerating a shift from cash to digital payments. It is evolving from a bill payment app to a full financial ecosystem with its myFawry app, offering budgeting, savings, and prepaid cards (Yellow Card) for greater financial control.

4. Yoco (South Africa) – Empowering SMEs with Digital Tools

Yoco provides South African small businesses with card readers and a suite of software tools to manage sales, inventory, and customer engagement. It goes beyond payments to serve as an operating system for SMEs. With services ranging from online selling, Yoco Capital, tax-compliant invoicing, streamlining sales, and a host of other tools, Yoco positions itself as the number-one selling platform for small businesses in South Africa.

• Why Watch in 2024: Yoco provides an extensive platform for small businesses to grow. Its deep focus on a single, high-potential market – South Africa – combined with its expansion into software solutions and capital provision, offers a masterclass in serving the SME segment, which forms the backbone of most African economies..

5. Flutterwave (Nigeria) – The Pan-African Payments Giant

Flutterwave is a bedrock of the African digital economy, providing the payment infrastructure that allows businesses to accept local and international payments seamlessly across the continent. It is solving fragmented payment issues with a single API for various payment methods like cards, mobile money, and bank transfers, powering major companies and aiming to connect Africa to the global economy. It has weathered operational and PR challenges but remains a central player.

• Why Watch in 2026: IIts pursuit of payments licenses in key markets like Kenya and India signals an ambition to become a truly global payments bridge connecting Africa to the world. Additionally, its strategic focus on profitability and market dominance, combined with the expected rollout of stablecoins in 2026, aims to facilitate faster, lower-cost cross-border payments for businesses, particularly along the Africa-Asia trade corridor.

6. Paymob (Egypt) – Empowering merchants with omnichannel payment solutions.

Paymob is another leading Fintech firm out from Egypt that provides an omnichannel payment to help busineses in the Middle East, Africa and Pakistan accept digital payments. It bridges the gap between cash and digital economies by offering bank cards, mobile wallets, and BNPL options. While processing millions of transactions, Paymob empowers financial service providers with mobile wallet technology and offers a payment gateway for online/offline merchants.

Why Watch in 2026: It is playing a key role in Egypt’s financial digitalization efforts. With operations extending beyond Egypt, Paymob is estimated to serve over 100,000 merchants. As a core technology enabler, it partners with banks and provides APIs to support a wide range of digital financial services.

7. PalmPay (Nigeria with Pan-African reach) – The Neobank Challenger

With a massive user base acquired through aggressive marketing and cashback incentives, PalmPay has established itself as a major neobank in Nigeria, Ghana, and beyond. It offers a super-app experience with payments, savings, and merchant services.

• Why Watch in 2026: With an estimated 35 million+ users, PalmPay is driving financial inclusion across Africa. Recognized as a top fintech by CNBC and Statista, and as Africa’s fastest-growing by the Financial Times, it operates as a full-service neobank. PalmPay is building digital financial infrastructure for emerging markets, offering inclusive financial tools, and powering the growth of Africa’s digital economy.
  

8. M-KOPA (Kenya) – Offers pay-as-you-go financing for smartphones and e-bikes

Using a pay-as-you-go model with small daily payments that align with everyday cash flow, M-KOPA is unlocking financial inclusion and digital access for millions. It is one of Africa’s leading fintech platforms, providing affordable smartphones, digital financial services (including loans and insurance), and e-motorbikes to underserved “Every Day Earners.” Operating in Kenya, Nigeria, Ghana, and Uganda, M-KOPA integrates Internet of Things (IoT) and mobile technology to offer essentials such as credit, health cover, and data.

Why Watch in 2026: M-KOPA’s impact begins with unlocking financial inclusion to accelerate customers’ access to opportunities and economic growth. With over 7 million customers, $2 billion in credit unlocked, 1.7 million first-time mobile internet users, and 35,000 sales agents, M-KOPA is driving progress for everyday earners through easy ownership. By making financing for everyday essentials accessible, it empowers self-employed individuals who are often excluded from traditional financial services.

9. PiggyVest (Nigeria) – Tech firm focused on savings and investments. 

PiggyVest is Nigeria’s leading digital savings and investment platform, launched in 2016. It encourages savings through its app by allowing users to strategize toward financial goals and growth. Users can access vetted investment opportunities with low entry points and take advantage of features like automated savings plans, locked savings (Safelock), target savings, and dollar savings – all while benefiting from bank-level security and regulatory compliance. PiggyVest helps millions of users manage money, build wealth, and develop disciplined financial habits through simple, accessible tools.ccessible tools.

• Why Watch in 2026: PiggyVest helps over 6 million customers achieve their financial goals by making saving and investing simple. It offers a variety of savings plans, including automated savings, fixed savings, goal-oriented savings, emergency savings, dollar savings, and house money, enabling individuals to grow and plan for their future with confidence. With low minimum investment amounts, PiggyVest makes financial growth accessible to more people.
  

10. Tala (Kenya) -Offers Microloans to the underbanked. 

Tala is a mobile-first financial platform in Kenya that offers fast, accessible loans to Kenyans excluded from traditional banking, using data science to underwrite loans via an app for small businesses and daily needs, operating under Central Bank of Kenya regulation, and focused on financial empowerment with transparent, growing credit limits. Users apply through their smartphone, receive instant decisions, and can build formal credit history with timely repayments, with support available through various channels like app, SMS, and social media.

• Why Watch in 2026: Tala has conveniently gained the trust of million of Kenyans. It provides Instant loans from KSh 2,000 to KSh 50,000 via an Android app with low interest rate starting at KSh 0. 3% per day. . Users apply through their smartphone, receive instant decisions, and can build formal credit history with timely repayments, with support available through various channels like app, SMS, and social media.

Other Notable Mentions:

The companies listed in this section were not included in the CNBC/Statista (2025) dataset used for this analysis. However, they are gaining traction across key African markets and are increasingly recognized for their growing presence, expanding user bases, and relevance within the continent’s evolving fintech ecosystem.

11. Kuntana Pay (Ghana) – Enabling Trade for Businesses in Africa

Kuntana Pay provides a platform for cross-border B2B payments, primarily focused on enabling trade for businesses in Africa. It is a company operating in and built for emerging markets, including Ghana. Its sole vision is to build a world where financial borders no longer hold businesses and people back. A world where economic prosperity is shared by all.

Why Watch in 2026: Kuntana Pay positions itself as a platform aimed at reducing financial barriers by providing African small and medium enterprises (SMEs) and global businesses with access to global currencies. The company offers services such as multi-currency wallets, cross-border payments, and trade-related transaction tools, with a focus on settlement efficiency and cost management.

11. Wave (Senegal) – Dominant Mobile Money Provider

Wave is fast becoming  the largest financial player in Senegal with rapid expansion and its low-cost mobile money services (deposits/withdrawals free, app transfers flat 1%) that challenge traditional telco models by focusing on accessibility. It is driven by digital inclusion with plans for savings and credit products.

Why Watch in 2026:  Launched in Senegal in 2018 and in Côte d’Ivoire in April 2021, Wave has grown to become the leading mobile money provider in both countries, overtaking established telecom-led services. The company focuses on expanding access to digital financial services for unbanked populations, operating largely within the informal economy while complementing traditional banking systems.

Regional Analysis: Key Fintech Hubs and Their Specializations

Region	Key Hubs	Primary Specializations	Notable Trends
West Africa (English Speaking Countries)	Nigeria, Ghana	Payments, Lending, Neobanking	Market size dominance, intense competition, regulatory evolution.
East Africa	Kenya, Uganda	Mobile Money, Lending, InsurTech	M-Pesa ecosystem, Pay-As-You-Go models, strong agent networks.
Southern Africa	South Africa, Zambia	InsurTech, WealthTech, B2B Fintech	Advanced financial markets, focus on formal SMEs and insurance.
North Africa	Egypt, Tunisia	BNPL, Lending, Digital Banking	Large unbanked populations, growing smartphone penetration.
West Africa (French Speaking Contries)	Senegal, Côte d’Ivoire	B2B E-commerce, Mobile Money Interoperability	Rapid growth from a lower base, solving unique regional challenges.

Challenges and the Road Ahead for African Fintech

The path forward is not without obstacles. Key challenges include:

• Regulatory Fragmentation: Varying regulations across 54 countries complicate pan-African expansion.
• Funding Winter: Global venture capital contraction has forced startups to focus on unit economics and profitability.
• Infrastructure Gaps: Unreliable internet and electricity in some regions can hinder adoption.
• Digital Literacy: Ensuring users can safely and effectively use digital financial tools remains a hurdle.

The response to these challenges will define the next decade. We expect increased consolidation, tighter regulator-startup collaboration, and a stronger focus on building sustainable businesses rather than merely chasing user growth.

The Future is Inclusive, Integrated, and Intelligent

The ten companies profiled here are a reminder of Africa’s brilliance and resilience in entrepreneurship. They are rewriting the narrative about the continent, pushing Africa beyond imitation to create truly context-aware solutions for local markets. The future of African fintech lies in deeper integration – where financial services become invisible, embedded into the apps and platforms used for everyday commerce and life.

The continent’s journey from mobile money pioneer to full-spectrum fintech innovator is well underway. As these startups show, the focus is squarely on building a financial system that is more inclusive, efficient, and capable of unlocking the immense economic potential of Africa’s people and businesses. For the global diaspora, engaging with and investing in this ecosystem represents not just an economic opportunity, but a chance to participate in shaping Africa’s digital destiny.

Fatimah Ibrahim

Correspondent, Kajarbi54 – f.ibrahim@kajarbi54.com