Several challenges have confronted Africa's financial services sector over the last decade. Currency depreciation, market volatility, inflation, and investor exodus are just a few of them.However, the last five years have seen digital banking shockwaves breathe new life into the financial sector. The continent's financial services sector is gradually finding its feet, with telcos and fintech startups leading the cost-effective digital banking economy and commercial banks succumbing to adoption rather than competition.In addition, given the increasing exodus of multinational banks from the continent, could the adoption of digital banking prevent even more of them from leaving?🤷♀️Have a great read!😉Ishioma EmiStaff Writer, Ventures Africa.
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Digital banking to the rescue🚑
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Several challenges have confronted Africa's financial services sector over the last decade. Currency depreciation, market volatility, inflation, and investor exodus are just a few of them.However, the last five years have seen digital banking shockwaves breathe new life into the financial sector. The continent's financial services sector is gradually finding its feet, with telcos and fintech startups leading the cost-effective digital banking economy and commercial banks succumbing to adoption rather than competition.In addition, given the increasing exodus of multinational banks from the continent, could the adoption of digital banking prevent even more of them from leaving?🤷♀️Have a great read!😉Ishioma EmiStaff Writer, Ventures Africa.