Africa's SME Banking Expansion
A report by Backbase and African Banker magazine, titled "Small Business Banking: Africa’s Next Growth Segment", explores the use of digital tools by banks to support small and medium-sized enterprises (SMEs) in Africa.
The study, based on a survey of 203 senior banking executives across 40 African countries, highlights a shift towards mobile-first platforms, AI-driven lending, and customized financial services to improve SME access and engagement.
Key findings include:
- 83 percent of African banks view SME banking as a strategic priority.
- Many banks plan significant investments in this segment.
The report reveals a strong shift toward mobile-first platforms, AI-driven lending, and customized financial services.
Author's summary: AI and mobile tech drive SME banking growth in Africa.
More News
- Wife charged with attempted murder after allegedly lacing husband's drink with poison: police
- Military archbishop: Army’s cancellation of religious support contracts unfairly harms Catholics - OSV News
- Tim Robinson's ‘The Chair Company’ Takes a Corporate Normie Down a Paranoid Rabbit-Hole
- When hate masquerades as love – Baptist News Global
- Chiefs Chapel is changing what Sunday means for fans at Arrowhead
- Report: Ireland Stalwart Considering Shock Move To Breakway League | Balls.ie
- Get The Book The Oligarchs Don’t Want You To Read
- ‘The law supports our case at every turn,' High Court hears as dieselgate case opens
- Dan's Daily: Jagr Back; Team USA Makes Demands; Penguins Changes
- Platforms of Extremism: Why Australia Must Confront Digital Misogyny as a Security Threat - Australian Institute of International Affairs