Date:30th July 2024

Source: TechinAfrica

Statista, a globally recognized provider of market data, and CNBC, a leading American media outlet, have included seven African fintech firms—Flutterwave, Piggyvest, Kuda, MTN, Bank Zero, Palmpay, and Yoco—in their 2024 compilation of the top 250 fintech companies. These startups were selected from a competitive pool of 2,000 companies worldwide. The list, which also includes major international brands like Mastercard, Klarna, Flywire, and Robinhood, represents the second edition produced by the Statista-CNBC collaboration, following the first list released in 2023. The selection process involved extensive desk research by the Statista team, complemented by data provided by the companies themselves. Key metrics evaluated included 2023 revenues, year-on-year sales growth, and total workforce numbers. It is essential to note that the list is presented in an unranked format. Among the recognized companies, Nigerian fintech Kuda and South African Bank Zero emerged as prominent neobanks. In the payments sector, Nigerian unicorn Flutterwave, Chinese-owned Palmpay, South African fintech Yoco backed by Partech, and MTN for its mobile money platform MTN MoMo were highlighted. Meanwhile, Piggyvest distinguished itself as the only African startup featured in the financial planning category.