Nigeria FinTech Landscape - Impact Assessment
Nigeria FinTech Landscape - Impact Assessment
Female participation in FinTech remains low in Nigeria and adoption in
concentrated in payments and wallet offerings
Despite a low number of female-founded companies in
Nigeria, 48% of FinTech have women in senior
management positions
Female
founders
22% of top 50 FinTech2 have
female co-founders
મી
FinTech adoption is lower for women 5 in Nigeria relative
to men and concentrated in low sophisticated products
Female adoption of FinTech for
Rationale for low adoption
mass and youth, %
Accounts/
wallets
35%
Women in senior
management³
48% out of top 50 FinTech have
women in senior management
position
Payments
Savings
4 (4%)
FinTech funding
>$1mn
Only 2 companies with
female co-founders have raised
$1mn+ in 2018-2019
Lending
2%
$
59%
2. Determined based on Weetracker and Britter Bridges reported FinTech, team analysis
1.
Based on interviews with various stakeholder and team analysis on top 50 FinTech
3.
Senior management includes partners and executive positions
4. Publicly announced funding of FinTech in Nigeria
5. Based on 215 customer interviews across Nigeria
6. Use at least one FinTech product 7. Carbon
SOURCE: Customer survey, company websites
Only 17 out of the top
30 FinTech in Nigeria
has designed a product
specifically for women
Companies do not
create products to solve
specific women's needs
EFINA
23View entire presentation