Tiger Global-backed Minka is the latest LATAM fintech to set up shop in Africa
- Minka, a Colombian fintech backed by Tiger Global, has launched in East Africa, targeting Kenya, Tanzania, Uganda, and Ethiopia.
- Latin American fintech companies like EBANX and dLocal have also expanded into Africa, addressing similar challenges of financial exclusion and cash reliance.
- Minka aims to leverage its experience in Latin America to help address the financial inclusion gap in East Africa.
The expansion of Latin American fintech companies into Africa, such as Minka, presents an opportunity for both regions to address the challenges of financial exclusion and cash reliance. With their experience in digital payments and relationships with global merchants, these fintechs can contribute to enhancing financial inclusion in Africa. However, it is important to ensure that the solutions provided are tailored to the specific needs and contexts of the African market.
