Burkina Faso Builds Fintech Base Around Mobile Money

Pakistan is emerging as a South Asian fintech hub as it shifts from a cash-dominated economy toward a digital financial system. The country is promoting financial inclusion through Raast, the State Bank of Pakistan’s instant payment system, with a target of raising financial inclusion among adults to 75% by 2028. Its fintech ecosystem now comprises about 450 companies and has attracted $391 million in cumulative venture capital funding. The market is projected to exceed $7 billion in value by the end of fiscal 2026.

Pakistan passed the Virtual Assets Act in 2026, formally establishing the Pakistan Virtual Assets Regulatory Authority (PVARA) to regulate digital assets. Retail payments reached 9.1 billion transactions worth 612 trillion Pakistani rupees in fiscal 2025. The Dubai FinTech Summit is also scheduled to hold an event in Pakistan in August 2026 in partnership with the Pakistan Digital Authority, accelerating the country’s integration with the international financial system.

Laos has an economy of about $17 billion and GDP per capita of roughly $2,700, and has long relied on hydropower, mining, agriculture and tourism. Limited banking coverage in rural areas has made digital finance critical to closing service gaps. The government is advancing the transition through its National Digital Economy Strategy 2021–2030, while BCEL One from Banque pour le Commerce Extérieur Lao (BCEL) is a major mobile banking service.

A May 23, 2026, review by The Fintech Times found that Laos had about 25 active fintech companies, concentrated in mobile payments, remittances and digital wallets. World Bank data showed that only about 45% of adults had access to formal financial services in 2025, while mobile penetration had already exceeded 70%. The Bank of the Lao P.D.R. has also expanded cross-border interoperability between Lao QR and Thailand's PromptPay and continues to pursue payment integration with Vietnam.

Liberia has long relied heavily on cash, with limited access to bank branches outside the capital, Monrovia, and financial exclusion remaining widespread. The country has GDP of about $4.8 billion and per-capita GDP of only around $800, but mobile penetration has reached 70%–80%, providing an entry point for digital finance. About 35%–40% of adults currently have a formal financial account, making fintech crucial to expanding access to payments and financial services for rural communities and small and medium-sized businesses.

An April 20, 2026 report showed that Liberia had only about 20–30 relevant providers, led by Orange Money Liberia and homegrown wallet TipMe. In 2025, the Central Bank of Liberia (CBL) partnered with the Mojaloop Foundation to launch the Instant and Inclusive Payment System (IIPS), an interoperable real-time payment platform. In 2026, the government also announced the Ministry of Posts and Telecommunications’ 2025–2029 “Digital Liberia” plan.

Ghana, with about 34 million people and gross domestic product estimated at $76 billion, has emerged as one of West Africa’s leading fintech markets and a contender beyond Africa’s established “Big Four” hubs. The Digital Ghana Agenda, Ghana Card identity system and expanding mobile broadband have built infrastructure for digital onboarding and financial inclusion. Bank of Ghana’s National Payment Systems Strategy for 2025–2029 adds a policy roadmap for interoperability, open banking and payments innovation.

An April 6, 2026 assessment by The Fintech Times estimates that Ghana hosts about 200 fintech companies spanning payments, lending, insurtech and regtech. Mobile-money transactions reached roughly $300 billion in 2025, with 26.7 million active accounts and more than 80 million registered accounts, while over 80% of adults used mobile-money services. Cryptocurrency transactions topped $10 billion. The market is now expanding into lending, insurance, wealth management, embedded finance and digital currencies as regulators increase their focus on cybersecurity, data protection and responsible lending.

Ethiopia has a population of about 130 million, but its financial system has long been dominated by state-owned institutions, with limited private-sector participation and adoption of digital finance. Through Digital Ethiopia 2030, the government is promoting nationwide connectivity, digital identity and mobile financial services. The digital economy currently accounts for only 3.9% of GDP, making fintech’s ability to reach rural and unbanked communities critical to economic inclusion and the success of market reforms.

The Fintech Times reported on April 1, 2026, that Ethiopia had about 49 fintech startups and that more than 9 million people had enrolled in the national digital identity program. The National Bank of Ethiopia launched the second phase of its National Digital Payments Strategy for 2025–2029 in March 2025. SanuPay and OpenWay also plan to issue 4 million debit and prepaid cards and 5,000 credit cards. The amount invested was not disclosed.

Equatorial Guinea has long depended on oil and gas revenue, but access to financial services has not kept pace with income per capita. Financial inclusion across the Central African Economic and Monetary Community (CEMAC), to which the country belongs, stands at only about 32%. Through its National Development Plan 2035 and the World Bank-backed ADIGE digital agenda, the government is promoting telecommunications infrastructure, digital government services and skills training to lay the groundwork for payments, remittances and SME financing.

A March 29, 2026, review by The Fintech Times estimated that the country had fewer than five to 10 fintech and digital financial services providers, with traditional banks and telecommunications companies still dominating the market. Services such as Orange Money focus on transfers, bill payments and stored value. The government has also made data governance, cybersecurity and digital infrastructure central to its reforms, but the report disclosed no new investment amount, underscoring that the ecosystem remains at an early stage.

Chad’s financial system has long been constrained by low banking penetration, scarce rural branches and heavy reliance on cash. Just 9% of adults had a bank account in 2017, underscoring why mobile finance matters. The World Bank’s Digital Economy Diagnostic for Chad identifies better connectivity and digital financial services as key to wider economic participation, while membership in the Central African Economic and Monetary Community (CEMAC) could give providers access to shared regional regulation and payment rails.

The Fintech Times reported on March 25, 2026, that Chad had more than 14 million mobile subscriptions by 2024, putting penetration near 80%. Authorities licensed Konoom in 2025 as the country’s first fully local mobile-money company, offering transfers, tax and public-service payments, airtime purchases and merchant payments. Chad Innovation Hub in N’Djamena is also providing mentoring, training and incubation for startups. Even so, the report disclosed no fintech investment amount and described the market as early-stage, with infrastructure constraints and a small startup base still limiting growth.

Azerbaijan’s fintech and digital ecosystem is drawing attention as financial services move online and the country develops the infrastructure needed to support digital commerce. The issue matters because progress in payments, banking technology and broader digital services could shape financial access, competition and new business models. The available description frames the subject as a broad assessment of the market rather than an account of a single company, investment or government initiative.

The latest report, titled “The Caucasus: Azerbaijan’s Fintech and Digital Ecosystem in 2026,” focuses on the country’s sector outlook and digital-market trends in 2026. However, the material provided does not identify a publication date, named institution, funding amount, transaction value or operating metric. It also gives no user totals or growth rates. As a result, no specific policy launch, financing round or infrastructure milestone can yet be confirmed from the available information.

Algeria’s fintech market remains at an early stage and is smaller than regional leaders Egypt and the United Arab Emirates, but the economy’s continued reliance on cash leaves substantial room for digital payments and broader financial access. The government’s Fintech Strategy 2024-2030 is intended to foster payments innovation and technology entrepreneurship. Early players including Banxy, Digital Finance Algeria (DFA), ESREF Pay, UbexPay and regional super-app Yassir are building services across mobile banking, merchant payments and embedded finance.

The Fintech Times said on March 16, 2026, that Algeria had an estimated 30 to 35 fintech startups spanning digital payments, mobile banking, financial infrastructure and crypto-enabled services. The Bank of Algeria joined the Pan-African Payment and Settlement System, or PAPSS, in 2025, seeking to simplify cross-border transactions and deepen African financial integration. The report described momentum as institutional rather than explosive: digital-payment adoption remains limited, venture-capital funding is modest and no aggregate investment amount was disclosed, while regulators continue refining rules that balance innovation with financial stability.