As sub-Saharan Africa continues to develop, Fintech investment companies begin refocusing their services in order to approach this rapidly-growing market.
Einvestment platforms use surge as the Covid-19 pandemic continues to isolate people and cut off many income sources that individuals have traditionally relied on. One of the biggest financial consequences of the pandemic that is currently sweeping the globe is the fact that a large number of manpower-based industries have had to either close or reduce the number of active employees. For many, this has meant a considerable reduction in income, driving them to look for new ways to make money. Of these, Fintech investments are becoming exceedingly popular.
What is Fintech investment?
Fintech is an all-digital investment solution designed to compete with traditional financial methods. As an industry, Fintech uses cutting-edge technologies such as artificial intelligence predictions and advanced analysis algorithms to determine the best investment options at any given time. When it comes to Fintech, it is important to keep in mind that the industry constantly pioneers the newest technologies and equipment giving it a permanent advantage over traditional financial services.
New reach for Fintech services
Fintech investment companies have traditionally focused on financial hotspots around the globe, such as China, the US, and Western Europe, however, they are currently seeing increased activity coming from various parts of Africa. Experts say that this is a natural development caused by the increased financial activity on the continent, along with the fact that Africa has seen a lower number of Coronavirus infections than other areas of the world. This has allowed companies to maintain production lines and to keep their profits from going down.
Established companies competing with new ones
Many platforms are currently offering High interest investments that can help both individuals, as well as companies, regain much of their lost income. These new investment solutions are a result of new markets evolving or emerging due to the new global restrictions that have been in effect since the beginning of 2020.
Fintech investment websites have been around for a while, with highly successful platforms such as eInvestment offering top-performing investment products based in the Cayman Islands since 2018.
As the company’s Senior Investment Analyst, Logan Mitchel, states, “the operating principles of the platform are simple. The fund is transformed into a simple and accessible eInvestment platform that offers top-performing licensed and regulated investment products for individual investors. The platforms have proven their efficiency time and time again, having a great track record over more than 2 years.”
This, however, is only one of the many platforms that have started to widen their Fintech investment solutions.
A solution created through adaptation
The financial prospects of companies and individuals alike, across the globe, are uncertain. As the pandemic continues, an increasing number of manufacturing businesses and tourism companies are forced to reorganise their services and/or seek new sources of income. This affects both entrepreneurs, as well as employees, reducing their ability to earn money.
While many companies have taken measures designed to scale back production, either by cutting back on personnel or by implementing slower but safer work protocols.