Digital Financial Services Inclusion Challenges and Opportunities in Africa

Vital Wave was engaged to assess the marketplace of digital financial services (DFS) across Africa and to identify potential opportunities for ecosystem strengthening and interventions to drive adoption. The market assessment informed the process of designing and establishing a new investment fund. As part of the three phases of the project, Vital Wave conducted primary research in Ethiopia, Egypt, Cote d’Ivoire, and South Africa, meeting with regulators and service providers to explore opportunities for DFS ecosystem strengthening related to regional interoperability, policy requirements, and infrastructure improvements. The firm also collected continent-wide data on the current state of digital financial services, characterized and segmented country markets, and identified opportunities for targeted investments in the East African, WAEMU, and Southern African regions to catalyze the growth of DFS.

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