The Unsaid Bits Behind The Lofty Transaction Volumes Of Nigerian Fintechs

It’s been out there for a while that there’s plenty happening with African fintech - huge funding deals, big-name recruits, high-profile partnerships, ground-breaking acquisitions, impressive metrics, important milestones, unicorns, and even a few scandals. And the Nigerian fintech scene, in particular, has been one of the brighter spots in African tech lately.

Obviously, some recent feats recorded by Nigerian fintechs - such as the USD 200 Mn acquisition of Paystack and the latest big deal that saw Flutterwave reach a valuation of USD 1 Bn - are testament to the immense value being unlocked.

However, behind those big deals and landmarks in Nigerian fintech, there are certain head-turning numbers that are typically sung about by the companies in question, even though those numbers mostly elicit either a “hmm of doubt” or a “wow of total awe” from the average observer.