PayU: 10 trends for fintech in Africa 2021

Karen Nadasen, Country Manager, South Africa, PayU, Africa
|Mar 4|magazine1 min read

9. A greater focus on data privacy and security as big tech moves into the region

With more technology comes more regulation. The likes of Facebook, Google and Microsoft are increasing their attention on the continent, and data privacy and security is likely to be given much greater emphasis. At present, only 24 countries across Africa have adopted laws and regulations to protect personal data, with the EU’s GDPR standing as the model of excellence for many. A number of nations have developed a framework that will essentially harmonise laws on data protection and digital economy across the continent, and it’ll be interesting to watch the impact that this has on investor confidence in the country, as well as on the fintech industry.