African banking markets have been described as some of the most exciting in the world: they are fast-growing, nearly twice as profitable as the global average, and a hotbed of innovation. Leading actors in the sector have been proactive and innovative in developing new business models in response to the specific challenges of the region including low levels of banking penetration, heavy use of cash, sparse credit bureau coverage, and limited branch and ATM networks. Here’s what Fiona Makaka, Associate and TMT specialist at TripleOkLaw, has to say.
Fiona Makaka is a member of the Microsoft Outside Council Network, a network of legal professionals and technology policy experts in the Middle East and Africa.
