Nigeria FinTech Landscape - Impact Assessment
Nigeria FinTech Landscape - Impact Assessment
Fintech solutions could create a multiplier effect on the economy across
several sectors
NOT EXHAUSTIVE
Areas that could be impacted by increased DFS
Twelve distinct ecosystems have been identified
Housing
Digital
content
Mobility
Education
Healthcare
Travel &
Hospitality
B2C
Marketplace (e-
commerce)
B2B
Marketplace
economy
Sharing &
Social networ
B2B services
Public services
Wealth and
Protection
Global Corporate
Services
In Nigeria, FinTech impact is already observed on a few
Travel & Hospitality
New online business models leveraging digital payment
solutions (e.g. WAKAnow, Hotels.ng)
Healthcare
Offer businesses and individuals to spread costs of insurance
premiums over regular installments (e.g. Reliance HMO)
Housing
Provide financing for annual fees for e.g. school, memberships
or commercial services (e.g. Fibre)
Education
Create environment that generates more interest in STEM, thus
increasing talent pool of computer scientists, developers etc.
SOURCE: McKinsey analysis, IHS World Industry Service, McKinsey Digital Finance for All report
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