Browsing: Brazil companies in Africa

Brazil's Ebanx expands into Africa with an eye on mobile money. www.theexchange.africa

Africa is still cash-based. There is a great opportunity to build new solutions that will take Africa’s payment space to new frontiers. International companies are now flying into the continent to capitalize on the continent’s growing digital economy.

In June 2022, Endeavor reported that Africa’s digital economy is estimated to be worth US$115 billion due to COVID-19 coupled with a young population and steadily rising rates of digital penetration.

  • Ebanx, a Brazilian fintech startup, announced its expansion into Africa. By putting more of an emphasis on its digital payments side of the business, it expects to emulate its rapid growth in Latin America.
  • The 10-year-old unicorn operates in 15 Latin American nations and has processed over US$1 billion in payments.
  • One of the possible reasons behind this move could be that Africa is showing great signs of rapid digital transformation.

An international fintech startup called EBANX has declared aspirations to …