Banking on Innovation: Exploring the interplay between fintech startups, banks, and telcos to shape Africa’s financial landscape

Mapping Innovation Ecosystems in Emerging Markets

This report examines how innovation ecosystems in Africa are evolving, with a focus on the networks, organisations, and funders shaping growth. Specifically, it explores the interplay between fintech startups, commercial banks, and telcos across Africa’s financial systems, with focused deep dives on Egypt, Kenya, and Nigeria. The report traces each market’s evolution (bank-led in Egypt, telco-led in Kenya, and a blended model in Nigeria), maps regulators and other key stakeholders, unpacks the regulatory environment, and features case studies of successful bank–fintech–telco partnerships, plus actionable recommendations for founders.

A valuable resource for investors, policymakers, and ecosystem builders, the report offers both high-level insights and practical takeaways for those seeking to understand and engage with emerging market innovation.

This report was published in partnership with Lateral Frontiers.

For those interested in a more comprehensive analysis of investment trends, opportunities, and challenges across Africa's investment landscape, we recommend reading our Africa Investment Report 2024.