Johannesburg has been ranked the top fintech destination in Africa in the latest Global Fintech City Index 2020 by Findexable.
The new index looks at, not just the startup entrepreneurs, but also the fintech ecosystem in order to generate a more accurate approach to fintech growth.
The Fintech ranking looks at various regions with the top African fintech destinations ranked as below:
- Johannesburg – South Africa
- Nairobi – Kenya
- Lagos – Nigeria
- Cape Town – South Africa
- Accra – Ghana
- Kigali – Rwanda
- Kampala – Uganda
- Lekki – Nigeria
- Dakar – Senegal
- Pretoria – South Africa
- Gauteng – South Africa
- Stellenbosch – South Africa
On the global scale, the top 10 global fintech destinations are as follows:
- San Franscisco
- London
- New York
- Singapore City
- Sao Paulo
- Los Angeles
- Bangalore
- Boston
- Berlin
- Mumbai
- Hong Kong
- Toronto
- Sydney
- Chicago
- Paris
- New Delhi
- Tokyo
- Tel Aviv
- Atlanta
- Miami
The report findings also reveal the impact of fintech on the global scene as shown below:
- By 2022, 60% of global GDP will be digitized
- By 2030 86% of the worldwide GDP growth will be generated from large cities
- Of the world’s top 100 leading fintech cities, almost half are in emerging markets
- South Africa among the top 10 progressive fintech destinations in regulation, innovation, and ecosystem efforts
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The index also listed 4 African countries among the top 10 to watch out on the global scale when it comes to local entrepreneurial success, regulatory foresight, and showing signs of a growing local fintech ecosystem, as shown below:
- Kenya
- Phillipines
- Cyprus
- Vietnam
- Nigeria
- Peru
- Ghana
- Bangladesh
- Uganda
- Lebanon
The index also looked at various industries defining and leading the fintech revolution in these regions. Blockchain and crypto startups predominantly featured in the fintech’s top 10 strength areas as shown below:
The index is expecting to help track the performance of leading, and emerging, fintech hubs to provide a useful benchmark by which to gauge success – both to explain the differences between old school and next generation finance, and to help define components that are essential to building a thriving fintech hub.
About the Global Fintech Index
The Global Fintech Index 2020 is the first ranking of its kind that scores locations across several thousand data points on fintech companies with metrics on local business infrastructure and fintech ecosystem quality, and data fro global leaders that include Crunchbase, StartupBlink, and SEMrush.
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