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Kenya & Nigeria most attractive destination for fintech startups in Africa

New data and information released by Digital Frontiers Initiative (DFI) has reported that Kenya is the most attractive destination for fintech startups in Africa with the highest salaries on the continent for executives and managers.

DFI reported that Kenyan fintech companies earn an average annual salary of $238,509 and $137,303 respectively while Nigeria which has the next-highest levels of compensation pays an average base salary of $213,731. Tanzania and South Africa follow close behind, with average salaries of $177,947 and $152,806.

Data from the Digital Frontiers Initiative (DFI), reported by Africa Business Daily, found that executives and senior managers working for

64% of respondents also told DFI that competition for talent was fierce in Kenya, and was the greatest concern of theirs when hiring. It’s not just pay attracting startups to Kenya, either, as 84% said that flexible working hours were extremely important while 47% said the same about a liberal dress code.

DFI, which is a a non-profit research firm, plans to replicate the study every two years to monitor how the market is developing in the region.