Nigeria on path to financial inclusion as fintech companies raise US$600m in five years

NIGERIA – Nigeria, Africa’s most populous nation with more than 200 million people, is on the path to achieving financial inclusion as fintech companies raise more than US$600 million in a space of five years. The colossal amount of money raised by fintechs reveal a confidence by investors in Nigeria’s financial sector and its capacity to grow beyond its current stature. Nigeria launched a Financial Inclusion Strategy in 2012, with an ambitious target of including 70% of the population in formal financial services by 2020. The financial inclusion strategy catalysed…

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