Study on Fintech in Eastern Africa

Abstract

The present report includes the Fintech sector which is largely made of mobile payment. It has increased access to financial services for a large part of the population that did not have access to traditional financial services and has enhanced resource mobilization. This report presents the results as well as the recommendations of the study. After the introduction, the first part will focus on some definitions and generalities of Fintech. The second part will review and analyse the current state of Fintech in Eastern Africa whereas the third part of the report will analyse the link between Fintech and SME development in the sub-region. The fourth part of the report will discuss, in addition to the sector regulatory requirements, the skills, competencies, gaps, and other constraints in the sector in the context of Eastern African economies. The last part will conclude the report by providing policy recommendations. Fintech covers various aspects of financial services. The more recent and modern forms of Fintech are linked to the use of machine learning, artificial intelligence (AI), and big data to manage investment and to provide personalized financial services to a client which are a function of his behavior and his need or digital marketplaces that link lenders to borrowers.