Fintech Snacks 🍿 | August 13 2023
My job is to make sure your reading list on African fintech is lit 🌍
Hey peeps,
It’s been one of those weeks where I’ve been exhausted to the point I considered going to sleep at the bottom of an unknown volcano for 1,000 years. My tired is TIRED. Hats off to project managers; what y’all do ain’t easy.
But nonetheless, we fintech on,
A warm welcome to all new and old subscribers to Fintech Snacks 🍿,
In this 4-minute read, I recommend three of my top reads from the week (articles, reports, podcasts, webinars, etc.) that explore a particular company, product, business model, or emerging issue within Africa’s fintech ecosystem. I’m here to help you separate insight from pure hype.
So what did I get up to this week?
#1: 💵 Financial Times on How bonds ate the entire financial system
This is one of those pieces that you look at on the surface, and it seems to have absolutely nothing to do with fintech, but then you peer closer and realize it has everything to do with African fintech.
The author dives into the history of bonds as a financial instrument and a tool for funding everything from wars, failing companies, and national governments.
It made me consider how Africa’s fintech ecosystem is currently funded, much of it is US venture capital. That’s fine for now because beggars can’t be choosers, but if we want to build a more sustainable, African-centric tech ecosystem, we’d need a homegrown well-oiled capital market to do that.
#2: 🇹🇿 Tech Safari looks into Tanzania’s tech ecosystem
Tanzania has been a low-flier in African tech, it doesn’t pop up much in tech media. In this piece, Caleb points to some of the flashpoints in Tanzania’s tech sector
Tanzania - mobile penetration: 86%, internet penetration: 50% (For context, Kenya - mobile penetration: 119%, internet penetration: 40% )
The government wants to put Tanzania on the tech map by transforming Zanzibar into a mini-silicon valley, with tax incentives, a tech university, and beachfront residential apartments. Let’s see where all this leads.
#3: 🇬🇭 WeeTracker’s reports on Dash, the scandal-ridden Ghanian fintech
Trouble has been hovering around Dash ever since the CEO was suspended in January 2023 for falsely inflating financial figures.
Now Dash’s investors want to let go of the company’s assets
While this is undoubtedly disappointing news, it also helps you appreciate the necessity of corporate safeguards like the board who stepped in to pick up the pieces in the CEO’s absence.
😅 When I’m not thinking about Fintech
I came across this book called “Formation: the Making of Nigeria from Jihad to Amalgamation.”
It chronicles the genesis of Nigeria, going back to 1804, an entire century before the entity, Nigeria, came to be in 1914
I think my fascination with the book comes from the fact that history classes in my secondary school were a real rip-off. The stories were watered down, uninspiring, and bland. I hope this book can help tease out more nuances in Nigeria’s fractured and complicated history.
Would you be interested if I did a book review? Let me know!
And that’s about it. Catch ya next week!
Nchy 😊
Disclaimer: All content in this newsletter solely reflects my views and opinions. They are not associated with my current employer.