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The Role of Banks in the Growth of African Startups

Africa’s startup scene has been constantly growing over the last few years. In 2021, African startups received over which broke the investment record for the continent. Projections for 2022 show that the record is likely to be broken again as more VCs find interest in African startups. 

Know Your Customer (KYC) protocols play a vital part in the growth of any industry. Where the flow of money is concerned, strong KYC measures are needed to confirm the identities of people that are involved in the transaction. The banking sector is one of the critical industries where KYC is of utmost importance.