Nigeria FinTech Landscape - Impact Assessment
FinTech landscape in Nigeria
Relative FinTech adoption scale
No of FinTechs
H
200+
No of FinTechs in Nigeria
Funding
LO
$560mn
FinTech funding in last 3
years
Women in FinTech
Long-term Economic impact¹
Top sectors by number of
players
O
$3bn
potential
$1bn retail
banking
revenue increase
39%
Payments
邊
investment
11%
Savings
28%
Lending
22%
48%
Low
High
Of top 50 FinTechs have
a female co-founder
Of top 50 FinTechs have
women in senior management
+
Development goal contributions
Gender
inclusion
$50bn
DFS GDP
potential
$ Financial
inclusion
Extending access to Education,
Healthcare, Agriculture and Energy
5 imperatives for stakeholders
Multiplier effect
Unlock new business models
Build a regulatory
framework to spur
innovation in the
Create pull for digital
identity
Develop central credit
infrastructure
Accelerate digital
infrastructure
Grow the talent
pipeline
Fuel business digitization
financial landscape
Drive job creation
SOURCE: MGI Digital Finance for all 2016, Literature review, customer survey n=215
2. Long-term defined as 5-10 years
EFINA
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