What started in garages across Cape Town and Johannesburg has grown into a sector that processes billions in transactions, demonstrating South Africa’s potential to shape fintech innovation across the continent.

As we approach the 2025 SA Fintech Awards, with nominations open for “Best Fintech Startup,” we’re spotlighting the key traits predicting which fintechs will lead tomorrow. Here’s what to look for in South Africa’s next fintech star.

1. Solution to African-Specific Problems, Not the Imitation of Global Models

South Africa’s leading fintechs tackle uniquely African challenges rather than replicating Western models. According to Paul Kent, CEO of Adumo, their team tailors solutions specifically for the continent’s needs, addressing challenges like high interchange fees and load-shedding costs, which he says impact “South African merchants in significant ways.” Adumo has invested in solutions to empower small merchants, enabling them to compete despite these operational disruptions.

Key Areas:

• Market Understanding: Bridging the cash-digital gap is a game-changer in a country where over half the population still relies on cash transactions.
• Adaptability: Infrastructure limitations across Africa operate effectively even under constrained conditions.

2. Sustainable Growth Over Hypergrowth

Sustainable growth, rather than rapid scale-up, defines fintech longevity. Jumo, a South African fintech, exemplifies this approach, building steadily while expanding across multiple African markets. Jumo’s CEO, has emphasised that success for African fintechs lies in “creating sustainable impact and adapting to local conditions” rather than pursuing explosive growth that may not endure. Jumo has won numerous awards as the Best Financial Technology Startups in Africa.

Key markers of sustainability include:

• Positive Unit Economics: Generation ensures a profitable model.
• Customer Retention: Fintechs that retain over 80% of customers after six months often indicate high satisfaction and loyalty.

More insights on sustainable fintech growth can be found on RMB’s SA Fintech Report.

3. Favourable Technology

Leading fintechs leverage adaptable and scalable technology tailored to local challenges – TymeBank, which deploys accessible digital banking solutions across diverse demographics. TymeBank’s use of “infrastructure-light” technology enables expansion into regions where traditional banking can’t reach, thus enhancing financial inclusion among underbanked communi

Key technologies include:

• Custom Tech Stack: Reducing dependency on imported solutions enhances operational control.
• API-First Design: This facilitates integration with existing financial institutions.

4. Strong and Balanced Leadership in Finance and Technology

Balanced leadership in both finance and technology is vital. Leaders like Michael Jordaan, co-founder of Bank Zero, blend financial acumen with tech within regulatory boundaries. Jordaan has long highlighted the importance of “using digital platforms to enhance cost-efficiency and provide real value to South African consumers” (RMB).

Traits of effective leadership include:

• Financial Insight: Familiarity with regulatory frameworks anticipate and meet market needs.
• Tech Competency: Skilled tech leaders ensure products are innovative, robust, and scalable.

5. Establishment of Trust from Day One

Trust is non-negotiable in fintech. As Rob Shuter, CEO of MTN Group, once remarked, “Trust in mobile money will create the foundation for a pan-African ecosystem.” Building trust through transparency, regulatory compliance, and partnerships with established banks ensures customer loyalty and longevity (The Fintech Times).

Indicators of trust include:

• Regulatory Compliance: Compliance signals a fintech’s commitment to transparency and security.
• Community Engagement: Engaging with local communities fosters loyalty and brand connection.

The Impact of Recognition and Rewards

Recognition boosts visibility, draws investment, and creates partnership opportunities. The “Best Fintech Startup” award at the SA Fintech Awards honours these innovators and offers them a platform for further growth.

Know a Rising Fintech Star? Nominate Them!

Supporting startups can help elevate them to industry leaders. Nominations are now open for the 2025 SA Fintech Awards “Best Fintech Startup.” Submit your nomination today and be part of Africa’s fintech evolution and recognize the incredible work our FinTechs are doing.