The experience of participants in the South African fintech ecosystem

Mncube, Lemuel Brandon
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The overall aim of the study was to determine the experiences of participants in the South African fintech ecosystem. The key participants in the fintech ecosystem were start-ups, government, financial institutions, customers and technology developers. Theories relating to the study were discussed in this research. The dissertation was based on qualitative research techniques, and the phenomenological methodology was used in the study. The target population was the players in the South African fintech ecosystem. A sample size of fourteen participants was drawn from the target population using purposive non-probability sampling. Interviews were used for data collection. Data were analysed using thematic data analysis. The research findings showed that poor governmental support, innovation, restrictive regulations weakening the ecosystem cohesion, poor coordination among stakeholders, the ability to scale the business, local culture, market competition and internal conflicts or disagreements between business partners were the key factors that affected the success of financial technologies in the South African ecosystem. In terms of policy recommendations, it was suggested that there was a need for increased collaboration between players in the fintech ecosystem, workshops and training programmes as well as improved financial inclusion
A research report submitted to the Faculty of Commerce, Law and Management at the University of the Witwatersrand, in partial fulfilment of the requirements for the degree Master of Management in Digital Business, 2021
Unbanked, Access to Financial Products, Affordable Transactions, Digital Insurance Products, Digital Credit, Digital Payments, Wallets, Mobile Money, Mobile Platforms