 |
|
|
|||||
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. For anyone following the headlines about African fintechs over the last few years, it must have felt like a wild ridefrom buzzing highs to plunging lows, and everything in between. But beneath these surface narratives, a more interesting story is emerging. This will be the year the focus on African fintech shifts from valuations to delivering value, and the process is already underway. Sustainable practices take center stage Fintech funding in Africa dropped by 37% from 2022 to 2023. The downward trend persisted in 2024, with funding in the first half of 2024 falling from $864 million to $419 million, a 51% decrease versus the same period in 2023. This funding downturn has forced fintechs to reassess their models, moving away from growth-at-all-costs towards sustainable business practices that emphasize real-world solutions and long-term viability. Now, fintech companies must focus on building resilient, profitable businesses that can thrive without relying on constant infusions of venture funding. Take Nigeria’s emerging direct debit solutions worth over $13 billion in 2023, according to the Central Bank of Nigeria. This isn’t a speculative bet on one of the many technology trends. Instead, these are practical innovations that help businesses in the country stabilize cash flow and simplify recurring payments for consumers. The focus on solving real problems rather than securing the next investment round signals a maturing ecosystemone that prioritizes longevity over hype. Technology that matters The shift isnt happening in a vacuum. African consumers are more selective than evertheyre not just mobile-first but mobile-native. They expect frictionless digital experiences comparable to global platforms, but with local relevance. This is forcing fintechs to focus on what truly works. Artificial intelligence plays a role in this transformation, but not in the way many predicted. Fintechs are using AI to enhance fraud detection, automate compliance, and personalize financial servicespractical applications that build trust and drive adoption. Similarly, blockchain is proving valuable beyond speculation. Instead of chasing volatile cryptocurrencies, fintechs are leveraging blockchain to improve cross-border payments, cutting costs, and speeding up remittances. With Africa receiving over $100 billion in annual remittances, these innovations have a direct, meaningful impact. When traditional transfer fees eat into crucial remittances, blockchain’s ability to reduce costs and increase speed isn’t just a technical achievement, it’s a tangible improvement in people’s lives. The new success metrics The combination of consumer-driven demand and practical innovation is reshaping how success is measured in African fintech. The next wave of investment won’t be driven by hype or viral success stories. Instead, investors are looking for sustainable growth and profitability over inflated valuations. They are looking for products that address fundamental pain points rather than trend-driven solutions as well as operational efficiency and strong regulatory compliance. As we enter a new cycle where reality replaces hype, 2025 will mark a turning point for African fintech. The most successful companies wont be those chasing the biggest headlines but those solving simple, essential problems exceptionally well. This isnt the end but merely the beginning of a more mature, impactful, and enduring era. The revolution may be quieter than expected, but its impact will be deeper than ever imagined. Olugbenga GB Agboola is founder and CEO of Flutterwave.
Category:
E-Commerce
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. Im not one to jump on every shiny new tool just because its trending. Some tech tools, gadgets, and software have transformed my life for the better (like the Meta Quest), and some ventures did not fare so well (I will ignore Apple Watchs reminders to stand until the end of time). But AI? Its different. AI isnt in the same league as the other tech you know and love. This is not just another tool, its a shift in how we think, create, and operate. At Quantious, weve dedicated the past few years to learning everything there is to know about AI, and weve embraced it not as a crutch, but as a catalyst. As a longtime agency owner, I know the importance of finding ways for my team to work smarter, faster, and more creatively. So, heres why I encourage my employees to use AI every day. 1. AI allows us to be better creatives We keep up with the newswe know some are saying that AI will kill creativity and make us dumber. At Quantious, we prefer to give our employees ownership to explore firsthand how AI tools can fuel fresh ways of thinking and offer new angles. Our designers leverage AI while prototyping, our copywriters lean on it to work through creative blocks, and our strategists use it to analyze massive amounts of data effortlessly. Through experimentation and education on responsible AI practices, were seeing that AI isnt replacing our creative instincts, its sharpening them. Were breaking through limits, unlocking ideas we never considered, and pushing creative boundaries in our work like never before. 2. AI keeps us at the top of our game AI is only going to get more advanced, more complex, and more intelligent. By weaving AI into our daily processes now in ethical and responsible ways, were future-proofing our team and staying ahead of the curve. AI literacy will soon be table stakes for business leaders and employees looking to stay at the top of their game. Were already bridging the gap between awareness and applied proficiency, a goal organizations must embrace to remain competitive. Most importantly, were cultivating a workplace culture that thrives on change instead of fearing change. We prioritize ongoing training, fostering a culture where our teams feel empowered to experiment with AI, and excited to discuss tips, tricks, and findings. This isnt just a valuable mindset to haveits our edge. That said, our team knows better than to fully rely on AI tools. Weve asked ChatGPT to pull trending news articles, to which it created fake URLs to nonexistent stories. Were not just using AI, were understanding its quirks, its limitations, and how its evolved over time. 3. AI supports remote (and hybrid) work Quantious is fully remote, with employees worldwide, so staying aligned and organized is crucial to our success. We now generate advanced spreadsheet formulas in minutes to streamline our workflows, saving our teams countless hours. We get AI-generated meeting note summaries after internal meetings, a simple yet effective way to document our company procedures and keep everyone in the loop. AI has made our remote work more productive, seamless, well-documented, and so much more. Weve crossed a thresholdAI has redefined teamwork, and theres no going back There are endless AI tools that can help you do everything from managing tasks to improving your public speaking skills. Without taking the time to learn about these tools, youll never know what youre missing out on. At the end of the day, AI is just another tool. How we use it is what counts most. Encouraging my team to explore AI is not about replacing talent or even working smarter, not harder (though Im not against the latter). Its about cultivating a positive workplace culture alongside a team full of curious, adaptable, and continuous learners. My team and I refuse to sit on the sidelines while the industry evolves. Instead, were here to shape how it grows. Lisa Larson-Kelley is founder and CEO of Quantious.
Category:
E-Commerce
Workers without college degrees have, for some time, faced declining opportunities in the workforce. However, new data signals that this may be changing, a sign that hiring managers are less focused on educational attainment and more focused on skills than they were in years past. Thats according to new research from Opportunity@Work, a nonprofit focused on increasing career opportunities for workers who lack college degrees but are skilled through alternative routes,” aka “STARs.” The research, which analyzed trends in so-called paper ceilings, finds that between the years of 2000 and 2020, 70% of newly created jobs often required a college degree. However, over the past five years, STARs, or people who have attained a skillset without earning a college degree (for instance, via an apprenticeship or another route), started to regain up to 10% of those jobs, the research found. In other words, while workers without degrees continue to see their share of good-paying jobs decline, the downward trend has at least slowed, which the report attributes to shifting habits in hiring. This report shows what is possible when awareness and behavior change together: job postings are measurably more open to STARs than in the early 2000s, said Byron Auguste, CEO of Opportunity@Work, in a statement. If we want our country to grow togethernot apartamid transformative technological and economic changethe starting point is to value all skills. And if we value all skills, STARs will rise.” New ways of thinking as college costs soar This may be good news for job-seekers who don’t have college degrees or aren’t especially keen on earning one, perhaps due to upfront costs. The average cost of a four-year degree has more than doubled since 2000 and grows around 4% per year. Meanwhile, additional research has shown an uptick in skills-based hiring and a decline in degree requirements. Between 2014 and 2023, there was a near-fourfold increase in the number of roles from which degree requirements were dropped, according to researchers from Harvard Business School and the Burning Glass Institute. For the last 20 years, many employers’ practices appear to assume that having no college degree means you don’t have skills,” said Dr. Erica L. Groshen, senior economic advisor at Cornell U-ILR, a former Bureau of Labor Statistics commissioner, and chair of the STARs Insights Advisory Panel, in a statement. “Today, Opportunity@Work provides further evidence to refute that narrative.”
Category:
E-Commerce
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. For Generation Z, real estate is more than just settling downit’s about staying connected, empowered, and mobile. Born between the mid-1990s and early 2010s, they are the first fully digital generation, raised on smartphones, cloud-based everything, and on-demand convenience. Gen Zs influence on the housing market is rooted in their expectations. They bring a consumer mindset to renting that demands speed, simplicity, and personalization in a space that has traditionally been slow to modernize. Now that Gen Z is the fastest-growing renter demographic in the U.S., their preferences are no longer optional. As they drive the rental market, theyre reshaping the rental experience and forcing the real estate industry to keep up or risk falling behind. Renting over buying (for now) Gen Z hasnt given up on the American dreamthey’re just facing a more challenging road to get there. A significant majority of Gen Z aspires to own a home one day, but wanting to buy and being able to buy are two different things. With home prices at record highs and interest rates still elevated, affordability remains the single biggest barrier. In fact, 43% of prospective buyers said they considered purchasing a home in 2024 but ultimately decided against it due to cost. Even so, some are finding creative ways to enter the market, like buying in more affordable areas, choosing smaller homes, entering into co-living situations, using the house-hacking strategy, or taking advantage of remote work to relocate. Still, for the majority, renting is a necessity, and in many cases a preferred step along the journey. Renting provides flexibility while they build careers, save for a down payment, or explore new cities. Some have even embraced renting as their digital nomad lifestyle centers around travel, remote work, and life experimentation before settling down. As a result, Gen Z is expected to continue driving the rental market and take over as the largest renter demographic by 2030. And as this cohort grows in influence, their expectations around technology, flexibility, and user experience are reshaping what it means to rent and how landlords and proptech should adapt to support their needs. Digital natives tech expectations One of the defining characteristics of Gen Z is that they integrate technology into nearly every aspect of their daily lives. They expect everything to be accessible through a smartphone, and that includes housing. From browsing apartments to paying rent, Gen Z wants real estate experiences to be mobile-first, fast, and intuitive. Theyre used to personalized playlists, same-day delivery, and AI-powered customer support. Therefore, any rental process that involves paper forms or checks to pay rent feels outdated and not worth their time. This demand for seamless digital experiences is pushing the real estate industryparticularly landlords, property managers, and proptech companiesto modernize. In their view, applying for housing should feel as smooth as ordering from Uber Eats. If it doesnt, theyll find another landlord who makes renting easier. How proptech is evolving to keep up To meet Gen Zs expectations, the rental ecosystem is undergoing a massive tech upgrade. Smart property management platforms are built for both sides of the rental process: Landlords get powerful tools to automate operations, while renters get clean, mobile interfaces that streamline everything from applications to rent payments to maintenance requests. Features like online rent payments, tenant screening, digital leases, and real-time messaging are quickly becoming minimum requirements for an optimal renter experience. Some modern platforms go beyond basic functionality by offering renters tools that enhance convenience, transparency, and control. To make paying rent easier, some platforms are adding more advanced features such as allowing tenants to split rent with roommates directly within the app to eliminate the need for separate payments or awkward money transfers. Other examples include: enabling autopay or partial payments, which helps with budgeting and avoiding late fees; reporting on-time rent payments to all three credit bureaus to help young renters establish credit and boost their credit scores; storing lease documents for easy access; 24/7 reporting and tracking maintenance issues in real time; and in-app purchasing of renters insurance. These tools give Gen Z more autonomy and visibility throughout their rental experience. And for landlords, it means fewer missed payments, faster communication, and higher retention. In short: If your tech stack isnt evolving, your rental business wont either. What real estate investors should be doing right now For landlords and real estate investors, Gen Zs influence is both a challenge and an opportunity. Heres how investors can stay ahead: Adopt mobile-first property management tools If tenants cant apply, pay rent, or request repairs from their phone, youll lose high-quality applicants. Look for platforms that make the entire leasing cycle smooth for both parties. Streamline tenant onboarding and communication Automated screening, digital leases, and in-app messaging are the new baseline. Gen Z renters expect the process to be as fast and efficient as anything else in their lives. Create transparent, personalized experiences Gen Z values transparency and control. Give them access to payment histories, lease docs, and maintenance updates in real time. The more empowered they feel, the more likely they are to renew (meaning less turnover/vacancies). Keep up with tech (or get left behind) Proptech isnt slowing down. The platforms that dominate tomorrow will be the ones that can continually respond to shifting consumer expectations. As an investor, staying agile and tech aware is part of the job. The bottom line Gen Z is driving a new era of innovation in real estate where tech isnt an add-onits the foundation. Their lifestyl preferences, economic realities, and digital-first mindset are forcing the industry to evolve in real time. For investors, landlords, and companies, its a roadmap for success. Those that embrace this shift early will be able to build stronger portfolios, attract long-term tenants, and thrive in the future rental marketplace. Ryan Barone is cofounder and CEO of RentRedi.
Category:
E-Commerce
The Fast Company Impact Council is an invitation-only membership community of leaders, experts, executives, and entrepreneurs who share their insights with our audience. Members pay annual dues for access to peer learning, thought leadership opportunities, events and more. The pandemic fully exposed global supply chains vulnerabilities and inefficiencies. While most brands were agile enough to shift strategies to address the uncertainties of the time, many prioritized speed and cost to meet the pressures of the moment, at the expense of long-term adaptability, resilience, and flexibility post-pandemic. Today, new supply chain pressures like tariffs, trade wars, climate change, and geopolitical uncertainty serve as reminders that complexity and disruptionthe two words used to describe supply chain management in 2025 per Thomson Reuters’ global trade reporthave the potential to once again, impact business and life. As brands and retailers analyze current risks across global operations, they ask: How did we get here again? Create adaptive supply chains A mid-pandemic EY survey found that enterprises were making plans to transform supply chain strategies to become more resilient, sustainable, and collaborative, leveraging technologies like AI, analytics, and automation. But did they? The answer is both yes and no. Once the urgency of the pandemic disruptions cooled, consumer packaged goods and retail companies turned their attention back to revenue generation, workforce optimization, and production. There was certainly some investment in digital transformation. Still, Food Technologys Technology Trends Survey completed in 2024 found that about half of the food, beverage, and ingredient manufacturers surveyed were still in the planning stages, hoping to invest in AI (50%) and/or supply chain tracking systems (48%) as part of their 2025 digital transformation strategies. The time to re-invest in digital transformation is now. Creating and maintaining a resilient operation that can weather costly disruptions and meet shifting consumer expectations requires an adaptive supply chain supported by modern technology. As proven during the pandemic, supply chain breakdowns can derail economies. Short-term changes can be a Band-Aid fix but do not support long-term resilience when the next crisis comes along. Conversely, collaborative supply chains with structural flexibility, end-to-end visibility, and advanced analytics can transform existential threats into manageable challenges and unlock fast, predictive decision-making capabilities, no matter the crisis. As business leaders look ahead, here are the areas that will help organizations meet todays supply chain pressures, and better position companies for long-term adaptability and resilience. Strategic alignment: Supply chains should be viewed as strategic assets foundational to decision making and performance optimization and can provide companies with a competitive advantage, not just as a target for cost-saving initiatives. Importantly, there’s no one-size-fits-all approach; upfront strategic alignment is critical. For example, retail behemoths Amazon and Costco set the gold standard with their supply chain strategies but have distinctive approaches supporting their unique business goals. While Amazon optimizes for endless selection, convenience, and speed, Costco focuses on delivering value through scale, simplification, and operational efficiencytwo different approaches that achieve the same end goal: strong growth and loyal, happy customers. It’s critical for businesses to first align on what they’re trying to accomplish and what their strategic differentiators are and then set a supply chain strategy. Data foundation: Given the complexity of our global marketplace, supply chain visibility and advanced analytics are foundational elements of effective supply chain management strategies. Though many companies currently collect extensive data, it’s not immediately actionable. A yogurt brand, for example, might manufacture its product in the U.S. but rely on ingredients imported from different countries. Especially with looming tariffs, brands need insight into their products bill of materials to determine where each ingredient is sourced and access to clean, real-time, granular data to help them quickly understand the potential impact of tariffs on their operations. A fresh fruit brand could be navigating a food safety incident and need to quickly locate the affected inventory to determine where impacted batches were distributed. Companies must gather, collate, and normalize data from various inputs across their supply chains to inform quick decision making when needed. Cross-functional collaboration: In resilient supply chains, partners at each stage share information to optimize the flow of goods. Starting with the planning stage, accurate demand and supply forecasts allow procurement to source the correct quantities of production inputs from suppliers. It also helps identify which suppliers meet the company’s quality standards and consistently deliver on time so that manufacturing can maintain efficient production schedules. Accurate information on warehouse capacity and logistics resources is needed to ensure on-time delivery. Adaptive supply chains require cross-functional collaboration and real-time data sharing between and throughout organizations so that companies can identify potential issues in advance, such as low inventory or production bottlenecks, and act quickly to avoid disruptions. Cultural commitment: McKinsey data found that only one-quarter of supply chain survey respondents observed regular reporting on supply chain risks at the board level. Resiliency is a muscle that requires regular exercise, not something companies should only pay attention to when crises emerge. Supply chain transformation must be an ongoing change management imperative across the organization and at the highest levels, with strategies and plans regularly revisited and updated. By identifying early warning signals sooner, companies can make decisions faster and revise strategy and plans to mitigate the impacts of future crises. Supply chain disruptions are rarely predictable. The best approach for companies to stay ahead of future disruptions is creating a foundation that allows for agility in daily operations and for significant events, such as tariffs, which require fast decision making. By creating systems and processes that facilitate end-to-end visibility and collaboration, business leaders can focus on supply chain agility now, so we are ready for the next crisis when it occurs. Are Traasdahl is founder and CEO of Crisp.
Category:
E-Commerce
Sites : [1] [2] [3] [4] [5] [6] [7] [8] [9] [10] [11] [12] [13] [14] [15] [16] [17] [18] next »