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Chinese investors are again pouring millions into Africa’s fintech start-ups

Source: scmp.com scmp.com
News Snapshot:

An investment drought in Africa brought on by the coronavirus pandemic could be coming to an end, as venture capitalists return to the continent, especially from China. After more than a year of staying away, funds are again looking at start-ups – particularly in fintech . They include OPay, a mobile-payments platform based in Nigeria which last week said it had raised US$400 million in a funding round led by Softbank Vision Fund 2, the investment vehicle of the Japanese conglomerate. It was also backed by a list of Chinese investors: DragonBall Capital, Sequoia Capital China, Source Code Capital, Redpoint…

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