Nigeria FinTech Landscape - Impact Assessment

Nigeria FinTech Landscape FinTech activity has initially been focused on the youth and middle segments; although there has been some efforts in the informal (excluded and included) segments Accounts BOP paga your cash, anywhere, anytime Concentration of activities Informal Mass Young Formal Mass Formal youth Core Middle Affluent SME owner paga paga paga K kuda. K kuda. prospa your cash, anywhere, anytime your cash, anywhere, anytime your cash, anywhere, anytime paga Quickteller barter Paystack africa barter POPay Payments P Lending cellulant ife i nebil your cash, anywhere, anytime paga your cash, anywhere, anytime POPay palmpay MINES.IO Quickteller POPay palmpay QuickCheck KwikCash carbon renmoney POPay palmpay Quickteller KC KwikCash renmoney QuickCheck wallets Savings & investments Social Lender Social Lender Bankly CowryWise CowryWise Smart Teller piggyvest piggyvest Social Lender RIBY RIBY FlutterwaveⓇ carbon QuickCheck carbon branch MINES.IO carbon Lidya renmoney schoolable KC KwikCash CowryWise chaka piggyvest RISE Wealth.ng chaka RISE Wealth.ng The youth and middle segment have seen early activity due to the low hanging opportunity arising from many unmet needs (e.g. credit) and the higher propensity to switch to digital alternatives There has been increasing focus on the mass segments particularly in lending & payments as players have been attracted by the size of the segment and regulatory focus on financial inclusion Gaps still remain at bottom of pyramid as very few commercially viable use cases have been developed to serve this segment The MSME segment beyond payment has also seen limited activity Insurance Д angel MC AutoGenius AutoGenius MARI EFINA 39

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