SA should focus on sustainable criteria to grow fintech
Digital and financial technologies have the ability to leapfrog historical barriers
The profile of the startup Jonga (“to watch”) in Business Day signalled the promise the digital revolution holds in the remake of SA as a sustainable economy (Criminals, watch out: here comes Jonga, January 14). It illustrates the ability of digital and financial technologies to leapfrog historical barriers and provide solutions to daily challenges foremost on the minds of South Africans, including crime, corruption, healthcare, education and environmentally sound use of scarce resources. Interest in fintech is growing fast worldwide, and SA entrepreneurs and investors are well advised to watch closely and engage. Accenture has reported that global investment in fintech increased from $930m in 2008 to more than $22bn in 2015. KPMG’s Pulse of Fintech reports that by the end of 2017, annual global fintech funding reached over $31bn and hit $57.9bn six months later. Following the third quarter of 2018, CB Insights reported that Asia surpassed the US in early-stage fintech deals, with 6...
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