Lipa Later Group Named Fastest Growing Fintech in Africa

According to the Financial Times, a British business daily newspaper, the buy now, pay later (BNPL) business Lipa Later Group is one of the fastest-growing financial technology (fintech) firms on the African continent.

The ranking, which is now in its second year, showcases various fintechs and emphasizes the adaptability and creativity of the Kenyan fintech sector.

Fintech, renewable energy, healthcare, commodities, and agriculture are just a few of the industries that are analyzed in the Financial Times/Statista 2023 annual ranking of Africa’s fastest-growing companies.

Despite the Covid-19 pandemic’s effects on the world economy, Lipa Later has shown remarkable development and adaptation, displaying its capacity to flourish even in unstable 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.

With eight fintech companies listed in the top 50, Kenya, a thriving center of fintech innovation, made a strong showing in the ranking.

This underlines the enormous potential of Kenya’s entrepreneurial environment as well as reaffirms Kenya’s status as a leader in the African fintech sector.

Lipa Later has been able to take advantage of the pandemic’s accelerated digital transformation.

Lipa Later was founded with the intention of giving consumers financial solutions by boosting their spending power and serving as an alternative payment method. Lipa Later has not only adapted to its customers’ changing needs but also increased its influence and reach.