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.
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…
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…
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…
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…