{"id":16209,"date":"2023-01-07T11:19:32","date_gmt":"2023-01-07T11:19:32","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/fintechs-accounted-for-over-30-of-tracked-kenyan-tech-startups-in-2022-study-fintech-bitcoin-news\/"},"modified":"2023-01-07T11:19:32","modified_gmt":"2023-01-07T11:19:32","slug":"fintechs-accounted-for-over-30-of-tracked-kenyan-tech-startups-in-2022-study-fintech-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/fintechs-accounted-for-over-30-of-tracked-kenyan-tech-startups-in-2022-study-fintech-bitcoin-news\/","title":{"rendered":"Fintechs Accounted for Over 30% of Tracked Kenyan Tech Startups in 2022 \u2014 Study \u2013 Fintech Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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As of November 2022, Kenyan fintechs accounted for 30.2% or 93 out of the 308 tracked tech startups, a Disrupt Africa study recently found. In addition, the study findings show that the fintech sub-sector alone accounted for 3,100 or 27% of the 11,462 people that were employed by tech startups during the same period. <\/strong><\/p>\n

Fintechs Solving Fundamental Problems<\/h2>\n

According to the findings<\/a> of a study on Kenya\u2019s startup space, fintech ventures alone accounted for just over 30% or 93 out of the 308 tracked startups. This figure is almost three times more than that of the nearest challengers, namely agri-tech and e-health, which both accounted for 10.1% of Kenya\u2019s tech startups that were tracked between January and November 2022.<\/p>\n

\"Fintechs
Source: Disrupt Africa<\/figcaption><\/figure>\n

However, as explained in Disrupt Africa\u2019s study report on the Kenyan startup ecosystem, the dominance of fintechs is not unusual.<\/p>\n

\u201cFintech takes the top spot in most African countries as it solves fundamental problems for the populace, is an area in which novel tech solutions tend to be well received and quickly adopted, as well as offering attractive returns for investors,\u201d the report said.<\/p>\n

Remittances and Lending More Popular Categories<\/h2>\n

Besides accounting for the largest share of tech startups, fintechs also employed more workers (3,100) than other sub-sectors. Agritech and e-commerce are the only other tech sub-sectors that employed more than a thousand workers.<\/p>\n

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Source: Disrupt Africa<\/figcaption><\/figure>\n

Meanwhile, as shown by the study\u2019s breakdown of the fintechs\u2019 areas of focus, remittances (24%), as well as the lending and financing (21%) space, appear to be the more popular categories. According to the report, part of the reason for this is that \u201cthese areas cover many of the most fundamental financial services that are still lacking for much of the population.\u201d The report added that such categories have been \u201cthe jumping-off point for fintech ecosystems continent-wide.\u201d<\/p>\n

Concerning the tech startups\u2019 use of blockchain, the study found that 12 of the 30 blockchain-based ventures are fintechs. E-health (6) and agri-tech (5) are ranked second and third, respectively.<\/p>\n

Register your email here to get a weekly update on African news sent to your inbox:<\/em><\/p>\n

What are your thoughts on this story? Let us know what you think in the comments section below. <\/strong><\/em><\/p>\n

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\nTerence Zimwara <\/h6>\n

\nTerence Zimwara is a Zimbabwe award-winning journalist, author and writer. He has written extensively about the economic troubles of some African countries as well as how digital currencies can provide Africans with an escape route.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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