Understand the demographic, socioeconomic and cultural influences...
Understand the demographic, socioeconomic and cultural influences that shape consumer demand and future prospects in Africa, with analyses that offer unique local knowledge and insight in support of comprehensive market statistics.
Charge cards had no presence in Nigeria over the review period. This is not expected to change over the forecast period.
Store cards had no presence in Nigeria over the review period. This is not expected to change over the forecast period.
Demand for consumer credit gross lending is set to continue to increase in 2023, despite the South African Reserve Bank’s consecutive rises in interest rates to stabilise inflationary pressures. This trend has been driven mainly by declining…
The South African economy has continued to struggle in 2023, as reflected by 0.4% real GDP growth, the unemployment rate stagnating beyond 32%, and the South African rand depreciating further against major currencies. Economic growth has also been…
Following the significant decline in transaction value and volumes experienced in 2020 due to extended restrictions imposed in the South African travel and hospitality industries in response to the COVID-19 pandemic, the complete lifting of the state…
As more middle-income households are struggling to reach month-end, due to the combined effects of rising interest rates, which have put pressure on existing vehicle and mortgage loans, as well as inflationary pressures, which have affected…
The prices of essential goods and services such as food and electricity have continued to rise in 2023, despite the relatively lower level of inflation, which moved from 7.0% in 2022 to 5.7% in 2023. Debit card value transactions benefited from this…
The number of financial cards in circulation is set to continue to increase in 2023, supported by a steady rise in the banked population and the intensified competition between issuers. Meanwhile, value transactions across categories such as debit…
As mobility has normalised in 2023, following restrictions imposed during the pandemic, demand for pre-paid cards for the Bus Rapid Transport (BRT) system has benefited from households resuming activities such as work and school. Growth in…
Store cards is set to witness growth in volume and value transactions in 2023, supported by cash-strapped consumers, notably lower- to middle-income consumers. This trend has been consolidated by the rising cost of living, which continues to affect…
Despite the evolving financial landscape, charge cards retain their status as an unpopular category in Egypt. The demand for charge cards remains stagnant, with no anticipated improvements in terms of popularity, transaction volumes, or market share…
The number of charge cards in circulation in Morocco is rising thanks mainly to population growth, urbanisation and the rising share of the banked population. The convenience of interest-free deferred payments - the core feature of charge cards - is…
Forbes Middle East's recent list of the top 30 fintech companies for 2023 highlighted a strong presence from Egypt. Fawry secured the top spot, boasting an extensive network of 36 member banks, over 280,000 agents, and a user base exceeding 49…
Morocco’s latest unemployment data exhibits a rise to almost 13% in the first three months of 2023, from just over 12% over the same period last year, as the farming sector shrunk due to the worst drought in decades, directly affecting the sector’s…
A new government inherited a sluggish economy, record debt and shrinking oil output, due to creaking infrastructure. On foot of this, the government has implemented some difficult decisions in order to stabilise the economy, including ending a…
Consumer credit and lending have experienced substantial growth in the past year. In March 2023, the Central Bank of Egypt reported a significant increase in consumer credit. The rise is attributed to an increase in both local and foreign currency…
While Morocco saw dynamic demand for consumer lending immediately post-pandemic as retailers and foodservice outlets reopened their doors to consumers, from September 2022 the market has been impacted by soaring prices impacting purchasing power…
Gross consumer lending is expected to register growth in 2023, but with inflation continuing to be very high, it will not go far in terms of consumer spending. A new government has implemented some difficult decisions in order to stabilise the…
Amidst the ongoing economic challenges in Egypt, ranging from currency devaluation to inflation and restricted overseas transactions, credit cards have gained substantial traction. The reliance on credit cards is expected to surge further in the…
Morocco is a country heavily reliant on cash, with consumers historically favouring debit cards to any other types of financial cards; standard credit cards continue to suffer from a negative perception among locals for several reasons. The demand…