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.
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…
Store cards had no presence in Nigeria over the review period. This is not expected to change over the forecast period.
The popularity of store cards was already in decline during the review period. Among the main reasons for this is that many local consumers struggle to see the advantages that these cards offer or, alternatively, they understand the advantages but do…
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…
Nigeria remains a mainly cash-driven society, though debit card usage is growing. Pre-paid cards, however, are not a popular option, and while the number of cards is expected to increase, constant transaction value is expected to fall in 2023, as…
There are no open-loop pre-paid cards in Morocco, and the number of closed-loop pre-paid cards (and the value of transactions made using them) was in decline even before the onset of the pandemic. The increased use of debit cards was the main driver…
Amid a concerted government focus on financial inclusion and extensive banking initiatives tailored to citizens of all age groups, the category of pre-paid cards remains on a robust growth trajectory within the Egyptian financial market. The…
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…
Nigeria continues to be a cash economy, though debit cards in particular are growing in popularity. Also, in 2023, this growth was further amplified, due to a cash shortage, as there was insufficient supply of the newly designed naira. As a result,…
Morocco’s commitment and investments in financial inclusion are paying off, with the nation having recorded double-digit growth in account ownership since 2017; this makes Morocco one of only four countries worldwide to achieve this. According to the…