Global Innovations

Dave Van Niekerk Business Insider
20 July 2016

MyBucks last week launched our Initial Public Offering (IPO) on the Frankfurt Stock Exchange (FWB), pleasingly fully subscribed and in- deed at a particularly intriguing moment in European and no doubt world history.

Germany, long the financial stew- ard of the European Union, faces a challenge in assisting in the transi- tion process for Great Britain’s de- parture from the EU, while holding the tiller from any socioeconomic squall that may rear from ‘Brexit’.

Yet while confidence behind Euro- pean ‘interconnectedness’ may at times such as these damper and no doubt only briefly, globalisation in practice has never been more effervescent. And while we may have become the first African-fo- cused financial technology com- pany to list on the Frankfurt Stock Exchange to exemplify this, it is African ‘fintech’, now reaching Ger- many and the world, which truly symbolizes globalisation at its core; for the dynamic, malleable and im- portantly, sustainable development boons driven by FinTech in Africa will be connecting our citizenries, creating jobs, empowering the next generation to achieve a confidence and independence they have nev- er experienced before and will be ushering in a new era of opportuni- ty on the continent and throughout a shifting marketplace in the world to come. As investors now pivot toward emerging market opportunities, fintech is booming - Global invest- ment in the industry has tripled over the last half decade and will double again, to an estimated $6 Billion by 2018 - this, according to a recent report by Accenture and the Partnership Fund of New York City.

And Africa is a greenfield pros- pect and proven hub for fintech; a bountiful market for the industry to flourish. This remains fact in-part due to the continent’s long-regaled and endowed resources but also, for new offerings that leverage the power of digital network to make financial services available for Africa.

Perhaps contrary to popular belief, although 88% of Africans didn’t have a bank account according to 2015 research statistics, let alone a credit card -they did have a mo- bile phone. And this makes Afri- can fintech not only relevant, but also essential.

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