The number of fintech startup jobs in South Africa has increased by 1,400 per cent since the start of 2016, demonstrating how much the sector is booming.
This is according to job aggregator Adzuna, which said it has seen fintech jobs listed on its platform increase from five in January to more than 100 in September.
The figures are in line with research from Accenture, which estimates that more than 33 per cent of the current revenue generated by the general financial services industry could be replaced by innovations in fintech alone.
“Even if one takes into account that a higher percentage of jobs online are technology based than exist in the economy, these figures show a strong trend of growth within fintech, since jobs are a clear indicator of a growing sector,” said Jesse Green, Adzuna country manager for South Africa.
“It may also be prudent to think of fintech as not necessary being in the startup space, especially for those job seekers who shy away from younger companies.”
Salary packages for fintech jobs are also above the national average, as a number of South African fintech startups have raised sizeable funding rounds.
Earlier this year, Adzuna reported Johannesburg had usurped Cape Town as South Africa’s startup capital, with more startups jobs available in the city.