|Despite glimmers of profit, most African neobanks remain in the red
|Posted by: TechCrunch on Jan 31st, 2024 12:55 PM
It was only just over a year ago that McKinsey described Africa’s financial technology landscape as a “hotbed for investment.” Fast forward to today, and startups on the continent are facing many of the same problems plaguing fintechs in more mature markets like the U.K. and the U.S.: valuations are tanking, growth is flagging, revenue targets […]
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