The Mauritius Africa Fintech Hub (MAFH) is a fast-growing ecosystem where its members collaborate and work together to build cutting-edge solutions for the emerging African market. Its members consist of all representatives on the value chain. They range from entrepreneurs, corporations, governments, tech experts, investors, financial service providers, universities and research institutions. The main aim of MAFT is to pave the way for international FinTech companies and financial service providers to access the African market which is increasingly growing. Moreover, its efforts aim to facilitate African fintech ventures to do business across borders.
Why invest into fintech?
Why choose this particular industry to invest in? How is it going to grow and help you and the general population of several African countries? Fintech is an opportunity that uplifts. It provides new ways for people to have access to life changing services, such as banking and insurance, which several developed markets take for granted. Besides from helping others, how will this sector help a business? The following positive predictions for Africa’s spending capacity and social improvement over the next decade will shed light on this matter.
- The fintech sector is expected to reach $3bn in 2020 in Sub-Saharan Africa alone,
- 52% of mobile transactions processed across the world will take place to and from Africa,
- 90% of farmers earn less than $0.75 per day. This means that they cannot afford having a bank account. As such, fintech will offer a new way to access helpful services in low-income communities,
- 80% of people living in Africa do not have bank accounts,
- 40% of people having the opportunity to access insurance for the first time are women,
- 57.6% of the world’s mobile money accounts are registered in Sub-Saharan Africa,
- Africa’s working population is expected to exceed that of China’s by 2025,
- Consumer spending in Africa’s 18 megacities is expected to reach $1.3trn by 2030 and
- Only 0.4% of fintech investment is directed at Africa.
As such, fintech offers several avenues that will help a business grow.
Why choose Mauritius?
Why choose Mauritius to be part of a fintech hub? The island offers several advantages. Thanks to its healthy and well-established legal system, favourable tax rate, fast internet connection and respected financial regulatory authorities, Mauritius is the perfect location with the right mix to power fintech growth in Africa. It functions as the fintech gateway to and from Africa while assisting the creation of collaborative partnerships. Moreover, even those who are not residents of the country can be part of MAFH and benefit from it.
Who should join the Mauritius Africa FinTech Hub?
This fintech hub is ideal for:
- Entrepreneurs: reach the next stop of your growth phase!
- Investors: be exposed to vetted Fintech start-ups and get access to its exclusive upcoming Investor Circle events.
- FSPs & Corporate: stay on-top of the latest tech trends by taking advantage of brand-new developments in the fintech space in both Africa and Mauritius before anybody else has a chance!