Nigeria FinTech Landscape - Impact Assessment

The Nigeria FinTech Landscape - Adoption FinTech adoption is highest in Lagos and growing in the South, however, it remains nascent in the North Adoption across Nigeria Lagos Adoption Lack of adoption Adoption across segments Factors driving adoption Index relative to middle/affluent segment BOP 3 Adoption driven by close proximity to technologies, higher educational levels, better infrastructure and stronger economic power Mass 70 South High digital adoption across customer segments with individuals using USSD, agents and cards at entry level Youth 87 Middle 100 North 38% of mass and youth FinTech users use savings products, 62% of whom are females Adoption remains low due to lower education levels, income and limited access to financial services Across segments, lending products more commonly used by males but females focus on money transfer and wallet services Source: Customer interview and survey (n=215), Nigeria - 49% females and 51% males South Abia, North Abuja, Kano, Jos, Kaduna, Maiduguri Affluent SME Senior O 60 100 A Implementation of relevant use cases B Growing trust in FinTechs CIncreased referral programs EFINA 12

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