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The Central Bank of Kenya (CBK) released digital transaction data for both banks and telcos in 2020, showing strong growth in digital payments and a decline in card transactions. Compared to July 2019-March 2020 (pre-pandemic), total card transaction...

This report, part of our series on the risks and opportunities in the emerging markets fintech space, focuses on key differentiating factors between fintechs and incumbents. However, we think it is only a matter of time before they do. According to c...

Most (62%) incumbents think that their industries will be bigger in three years’ time; just 2% foresee shrinkage. Only 8% expect more fragmentation. Executives in the technology sector are most pessimistic about the prospects of tighter regulation. L...

While FX reserves are over six months of imports and short-term external debt to GDP is below 3%, suggesting little risk of near-term stress on the external side, the current account deficit is over 5% of GDP and Kenya is facing its largest fiscal de...

Consumer/data protection is the top regulatory challenge cited by fintechs. By product, consumer/data protection regulations are a key hurdle for fintechs operating in the payments, lending and investech segments. By country, incumbents in India, Chi...

The size and growth dynamic of the overall market is the top constraint faced by emerging market fintech firms. By product, overall market dynamics are important for almost all segments, but lending fintechs also regard funding access as a key challe...