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# [AFRICA] African Fintech Enters Its "Second Wave": Targeting $65 Billion by 2030
- URL: https://businessoi.media/en/afrique-la-fintech-africaine-entre-dans-sa-deuxieme-vague-cap-sur-les-65-milliards-dici-2030-en/
- Published: 2026-07-18T02:46:01.000Z
- Updated: 2026-07-18T02:46:01.000Z
- Description: African fintech is set to grow from $10bn to $65bn by 2030, per BCG. The second wave goes beyond payments into credit and B2B finance. Mauritius can play a pivot role.
- Author: Emmanuel TAOCHY
- Tags: Afrique, Tech, Startup, finance, Revue matinale, #en

Long confined to mobile payments, African fintech is entering a new phase of maturity. According to a Boston Consulting Group (BCG) analysis published in 2026, the sector could see revenues surge from **current $10 billion to $65 billion by 2030** — a 6.5x increase in under five years. The engine of this «second wave»: credit, insurance, and B2B financial services.

## A Mobile Money Base Without Equal

Sub-Saharan Africa already controls **nearly 70% of global mobile money accounts**, with annual transaction volumes exceeding **$800 billion**. In Kenya, mobile money transactions exceed **50% of GDP** — a level few developed countries have reached within their own digital ecosystems.

Yet this payments success masks a paradox: **more than 50% of Africans** still lack access to formal credit, and the SME financing gap on the continent exceeds **$330 billion**. It is precisely this chasm that second-wave players intend to bridge.

## From Payment to Integrated Financial Platform

Currently, payments account for between **70% and 80% of revenues** in African fintech. The 2030 projection anticipates a rebalancing: digital lending, embedded finance, and B2B services could capture up to **50% of sector revenues**.

Challenges are real: fewer than 10% of African fintechs have comprehensive, interoperable data systems, and digital identity infrastructure remains patchy in many countries. Intra-African transfer fees still range from **6% to 10%** — among the world's highest — compared to near-zero marginal cost within Europe. Intra-African trade represents only **less than 20% of total continental trade**, versus 60% in Europe.

## Why It Matters

For Indian Ocean decision-makers, these figures map an opportunity: Mauritius, already positioned as an African fintech hub in its 2026-2030 roadmap, is ideally placed to serve as a deployment platform for digital credit and insurance solutions targeting continental African markets. The fintech second wave will not play out only in Nairobi or Lagos — it will also run through Port-Louis.