Nigeria below South Africa, Kenya on Global Fintech ranking

Africa’s largest economy, Nigeria, has been ranked 52, behind 2 other African countries –South Africa and Kenya in the recent Global Fintech Index.

The ranking, as contained in the Global Fintech Index City Rankings 2020 Report by Findexable, sampled 230 cities across 65 countries.

Findexable ranked these countries based on the quantity of operational startups, measuring the quality of environmental factors influencing the growth of these firms.

According to the Findexable ranking, Nigeria is placed 52, only 13 place to the least on the list, Lebanon.

As Fintech gradually takes over the financial space, there is more demand on infrastructure to see it flourish in Nigeria like other countries leading on the ranking.