First published on 22 Dec
This edition concludes the Next Wave for 2024, reflecting on a year filled with significant events. It has been a rewarding experience to engage with our readers worldwide, providing insights into Africa’s tech startup ecosystem. The rapid pace of innovation in the industry has brought about both advancements and challenges.
Throughout 2024, we delved into various topics such as fintech breakthroughs, climate tech advancements, and the increasing cybersecurity threats faced by African banks. Our weekly newsletters aimed to explore these issues comprehensively.
In this final edition, we highlight the top five most popular and thought-provoking Next Wave newsletters of 2024.
The future of fintech regulations
Understanding the unique aspects of fintech is crucial before implementing effective regulations. Regulators need to grasp the operational infrastructure of fintech companies.
Given the rapid pace of innovation in fintech, regulations must be adaptable to anticipate and accommodate these changes.
Adopting a balanced regulatory approach rather than strict bans or limitations is essential to support the growth of the fintech sector.
What’s the future of Kenyan fintechs?
Successful fintech founders must present viable business models demonstrating profitability and customer acquisition to attract investor support. Merely having smartphone-friendly technology is insufficient to compete with established Kenyan traditional banks and telcos that can incorporate neobank features.
Similar to fintech innovation, regulations must evolve to keep pace with the industry. Traditional financial institutions have also demonstrated their ability to adapt and compete effectively.
Showmax is promising, but it needs to fix a few technical basics
The year 2024 posed challenges for streaming platforms in Africa, notably with Showmax’s transformation to Showmax 2.0. While the platform enhanced its streaming technology and set ambitious subscriber targets, questions arise regarding the prioritization of fundamental aspects.
Housing startups need to evolve
Despite challenges like inflation and high interest rates impacting real estate growth, proptech has lagged in significant advancements. Many Nigerian proptech firms founded years ago have yet to revolutionize real estate through technology.
The future of housing could benefit from crowdsourcing real estate projects, leveraging tech-driven construction advancements, and introducing rent-to-own schemes appealing to younger demographics.
What is Africa’s place in the EU AI treaty?
With the absence of significant progress in passing AI regulations in 2024, questions arise regarding Africa’s role in AI technology. The exclusion of African voices in crafting the EU AI Treaty poses challenges for the continent’s innovative landscape.
Without African involvement, the treaty may exacerbate data dependency issues hindering technological development across the continent.
We are excited to continue providing insightful perspectives on Africa’s tech and business landscape in the upcoming editions of NextWave, returning to your inboxes on January 12.
Wishing you a Merry Christmas and a Happy 2025!
Adonijah Ndege – Senior Reporter