As it already seems, there’s a new tech sector in Africa's tech ecosystem, and unlike many existing others, it's a hybrid of sorts.
Though this one shares the makings of a marketplace that was cooked overnight, it is unarguably an effort long in the making. As the continent’s tech enabled sectors grow in ways one too many, they are apparently beginning to intersect.
With incorporation all the way from the Netherlands, an incredibly young yet significantly grown and massively funded startup wants to ride on Africa’s fintech drive to pull over a longstanding challenge. Cruising its operations through Lagos, Accra and Johannesburg, the firm doesn’t just want more cars plying roads but also more people who fully own them.
In Africa, owning a car is no sport for the young, upcoming, and the fainthearted. However, it all boils down to vehicle financing—a prevalent drawback in a continent with a populace of more than 1 billion.
By 2050, there will be nearly 2.5 billion people in Africa, more than 75 percent of which will be young (and upcoming) folks. Despite such figures, the continent is home to the least amount of car owners in the world.