EMURGO Africa 2023 Q2 Report: Effect and Effort of Financial Inclusion

EMURGO Africa 2023 Q2 Report: Effect and Effort of Financial Inclusion

EMURGO Africa 2023 Q2 report is now out!

You can download the full report from here⤵️


Table of Contents of Report:

  • Chapter 1: Executive Summary
  • Chapter 2: Effect of Financial Inclusion
    - Effect of Financial Inclusion
    - Potential Role of Blockchain
  • Chapter 3: Digital Finance in Africa
    - DigiFi Business in Africa
    - DigiFi Lending in Africa
    - Outcome of DigiFi Expansion
  • Chapter 4: Blockchain Finance in Africa
    - On-chain Finance in Africa
    - On-chain Lending in Africa
    - DigiFi and DeFi Comparison
  • Chapter 5: EMURGO Africa Updates
    - About EMURGO Africa
    - EMURGO Africa Portfolio
    - Our New Investment
    - EMURGO Africa Reports
    - EMURGO Africa News

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Here is the summary of the report.

Chapter 2 overviews what has been proven academically regarding the effect of financial inclusion on development measures.

It is proven that the biggest positive development impact comes from having a savings account and making digital payment instead of cash. The effect of access to microcredit is, on the other hand, mixed at best.

Chapter 3 explains the digital finance (DigiFi) business in Africa and the outcome of its expansion. Among DigiFi services, lending shows the highest revenue share and significant opportunities. The expansion of DigiFi in Africa resulted in the increase in owning, saving in, and borrowing through mobile money accounts in the last 5 years.

Chapter 4 examines the blockchain finance business in Africa and the difference between DeFi and DigiFi.

Among 46 identified on-chain finance businesses in Africa, payment is the most common on-chain finance business followed by trading platform, wealth management, and account management.

Comparing DigiFi with DeFi, in most cases, DeFi has much lower interest rates than DigiFi. However, global DeFi platforms require not a small amount of crypto collaterals, gas fees, transaction fees, and on and off-ramp trading costs due to limited availability of local currencies. African startup projects are expected to develop more convenient on-chain lending options.

Chapter 5, EMURGO Africa Updates, updates you with our new investments, reports, and recent activities such as EMURGO Africa and PwC "The State of Web3 in Africa" report launch event in Nairobi.

🎯 For more detail, you can download the full report from here 👇😌 The report is all visualized!

We hope you enjoy the report. Thank you!


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EMURGO Africa invests and supports local Web3 projects in the region to adopt Cardano’s decentralized blockchain technology to build socially impactful solutions.

As a regional entity of EMURGO, the official commercial arm of Cardano, EMURGO Africa also runs a local Cardano accelerator in Africa, Adaverse, which accepts applications year-round.

For more up-to-date information on EMURGO Africa, follow the official channels listed below.

About EMURGO Africa