This archive report was first published on 19 December 2019.
Published on December 19, 2019, Nairobi has risen in the global fintech hub ranking, climbing 42 positions to emerge as a thriving tech ecosystem in the region.
Nairobi is now ranked 63 in the overall top 100 ranking in the Findexable Global Fintech Rankings 2020, a report published by research firm Findexable Limited.
The city is strong in payments, remittances, banking, and lending technologies, with an estimated 20 percent of African fintechs and an emerging ecosystem of local investors and venture capital firms.
Kenya's Cellulant, Musoni, Kopo Kopo, Alternative Circle, Lendable, and Bitpesa were named the technology platforms to watch locally.
Global investors and venture capital firms are pitching tent in Nairobi to scout for early-stage start-ups, with founders raising billions of shillings from investors including the International Finance Corporation (IFC) and private equity firms.
