The ranking, which is in its second year, highlights different fintechs and underscores the resilience and innovation of the Kenyan fintech industry.

The Financial Times/Statista 2023 annual ranking of Africa’s fastest-growing companies analyzes businesses across various sectors, including fintech, renewable energy, healthcare, commodities, and agriculture.

Despite the global economic challenges posed by the Covid-19 pandemic, Lipa Later has demonstrated tremendous growth and adaptation, showcasing its ability to thrive even in uncertain times.

“We are thrilled to be recognized as one of Africa’s fastest growing fintech companies by the Financial Times,” Lipa Later’s Founder and Group CEO Eric Muli said.

“We will continue to leverage technology and our deep understanding of customer needs to drive financial inclusion and contribute to the growth of the fintech ecosystem in Kenya and beyond,” Muli added.

Kenya, a vibrant hub for fintech innovation, boasted an impressive presence in the ranking, with eight fintech companies featured in the top 50.

This not only solidifies Kenya’s position as a leader in the African fintech landscape but also highlights the immense potential of the country’s entrepreneurial ecosystem.

Lipa Later has successfully capitalized on the accelerated digital transformation witnessed during the pandemic.

With the purpose of providing financial solutions to consumers by increasing their purchasing power and being an alternative payment option, Lipa Later has not only met the evolving needs of its customers but also expanded its reach and impact.