Statista, a globally acclaimed provider of market data, in collaboration with CNBC, a prominent American media entity, has recognized seven African fintech enterprises in their 2024 compilation of the leading 250 fintech organizations. These African companies—Flutterwave, Piggyvest, Kuda, MTN, Bank Zero, Palmpay, and Yoco—stood out among a pool of 2,000 contenders from around the world.
This compilation, which also includes illustrious international firms such as Mastercard, Klarna, Flywire, and Robinhood, marks the second occasion that Statista and CNBC have partnered to create such a list, with the inaugural edition having been released in 2023.
The selection process for the list involved meticulous desk research conducted by Statista’s team, alongside the evaluation of data submitted by the companies themselves. This data encompassed their revenue figures for the year 2023, the rate of growth in sales compared to the previous year, and the total number of employees. It should be noted that the list does not assign rankings to the companies featured.
Within the 2024 list of the top 250 fintech firms, two companies from the African continent, namely the Nigerian-based Kuda and South Africa’s Bank Zero, were distinguished as some of the finest examples of neobanks.
In the payments segment of the list, several African companies were highlighted: Flutterwave, which hails from Nigeria and has achieved unicorn status; Palmpay, which operates under Chinese ownership; Yoco, a South African fintech firm supported by Partech; and MTN, recognized for its mobile money service known as MTN MoMo.
Piggyvest, another Nigerian enterprise, had the unique distinction of being the sole African startup to be featured in the financial planning section of the list.
