China’s fintech footprint in Africa

From Aaron McNicholas

— May 12, 2024

Speakers discuss how fintech applications across Africa are playing a leading role in e-commerce and cross-border trade, during the Africa Fintech Summit held in Lusaka, Zambia, November 2023. Credit: Africa Fintech Summit Instead of visiting a bank, Nigerians who need to move money are now just as likely to visit a street market and speak to an agent working for OPay, a Chinese-backed fintech company. These agents are part of a vast network that has propelled OPay to market leadership in Africa’s largest economy. It is an example of an emerging fintech scene in Africa that has benefited from Chinese expertise and investment to keep pace with the rest of the world. This week, The Wire explores the OPay journey

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