The Digital Footprint: Credit scoring and personal lending start-ups in Africa

Investment into Africa credit-scoring and personal finance start-ups increased by 52% CAGR to $207m USD in 2019. Services have begun to switch focus from a traditional lending model to also cover credit scoring services and sophisticated loans management systems. We take a look at the lending market to understand more.

Research suggests smartphone adoption facilitating growth

Smartphone ownership is predicted to grow from 38% in 2018 to 66% in 2025 and could be a key driver for growth.

Investment into start-ups increases

Investment into Africa credit-scoring and personal finance start-ups increased by 52% CAGR to $207m USD in 2019.

Services become more fragmented as the market matures

Services have begun to switch focus from a traditional lending model to also cover credit scoring services and sophisticated loans management systems

This report was first published in August 2019.

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