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.
Financial cards and payments in Egypt has seen a remarkable year in 2023, characterised by a notable shift from cash to card usage, larger transaction amounts, and a surge in new account openings. Government initiatives to boost financial inclusion…
While Nigeria still mainly operates with cash, debit cards are the most popular financial card and continue to gain further penetration and in 2023, both number of cards and transaction values are expected to increase, with a double-digit constant…
Driven by population growth and continued urbanisation, the number of debit cards in Morocco continues to soar. Traditionally, local consumers show a strong preference for using debit cards thanks to the safety and reliability of paying with existing…
The Central Bank of Egypt reported a noteworthy 15% overall growth in the total number of electronic cards in Egypt by the end of 2022. Specifically, the number of debit cards in the market witnessed a substantial 12% growth. The government's ongoing…
Most banks perceive credit cards as high risk due to experiencing frequent default rates in the past. As such, credit cards continue to be relatively scarce in Nigeria, with mainly high net-worth individuals owning credit cards. Also, due to 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…
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…
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…
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…
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…