Category: Banking & Financial Services
Africa Banking & Financial Services
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Credit Cards in Nigeria
... net-worth individuals owning credit cards. Also, due to the instability of the naira, many credit cards are denominated in dollars. In 2023, credit cards is expected to register growth both in number of cards, as ... Read More
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Pre-Paid Cards in Nigeria
... transaction value is expected to fall in 2023, as inflation remains very high. There is little awareness of pre-paid cards and most open loop cards are in foreign currency. Closed loop cards dominate, though open ... Read More
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Debit Cards in Nigeria
... are expected to increase, with a double-digit constant value increase in spending. This growth was also amplified in 2023, due to a cash shortage, due to a shift to a newly designed naira. In March, ... Read More
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Charge Cards in Morocco
... - the core feature of charge cards - is a major incentive for local consumers in the face of increased pressure on purchasing power in 2023. As such, cardholders will not pay more than the ... Read More
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Credit Cards in Egypt
... surge further in the coming period, largely fuelled by the availability of multiple instalment plans offered by various banks and platforms. The Central Bank of Egypt (CBE) reported approximately five million credit cards in circulation ... Read More
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Consumer Credit in Nigeria
... stabilise the economy, including ending a decades-old petrol subsidy that has seen prices triple and has also ended restrictions on foreign exchange, which has significantly weakened the naira. In addition, in order to stem inflation, ... Read More
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Financial Cards and Payments in Nigeria
... as there was insufficient supply of the newly designed naira. As a result, in March, the Central Bank was forced to extend the timeline to swap its old currency for redesigned notes. This deadline is ... Read More
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Financial Cards and Payments in Egypt
... in new account openings. Government initiatives to boost financial inclusion and reduce cash reliance have significantly benefitted the industry. All governmental entities are now fully digitised, accepting a wide array of card payments and digital ... Read More
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Consumer Credit in Egypt
... banks, over 280,000 agents, and a user base exceeding 49 million. MnT Halan claimed the fourth position, focusing primarily on small and micro businesses, and showcasing approximately 1.5 million monthly active users and over 2.5 ... Read More
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Pre-Paid Cards in Egypt
... the Egyptian financial market. The successful proliferation of pre-paid cards has been accompanied by a notable increase in transaction volumes over recent years. In early 2023, the Central Bank of Egypt confirmed this trend, reporting ... Read More
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Credit Cards in Morocco
... among locals for several reasons. The demand for credit cards remains relatively low as Moroccans typically seek financial stability and local culture favours spending only money already in one’s possession. In addition, the application process ... Read More
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Charge Cards in Egypt
... transaction volumes, or market share expected over the forecast period, reflecting a challenging outlook for this category in the Egyptian market. In this unpropitious landscape, American Express stands as the predominant player, maintaining its key ... Read More
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Consumer Lending in Morocco
... impacting purchasing power across households. This trend has intensified with rising interest rates and as a result, the demand for consumer lending facilities has become subdued, while repayment trends exhibited longer periods of more than ... Read More
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Consumer Lending in Nigeria
... has implemented some difficult decisions in order to stabilise the economy, including ending a decades-old petrol subsidy that has seen prices triple and has also ended restrictions on foreign exchange, which has significantly weakened the ... Read More
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Consumer Credit in Morocco
... shrunk due to the worst drought in decades, directly affecting the sector’s demand for workers. Unemployment is more acute among young people aged 15 to 24. Meanwhile, among graduates specifically, unemployment averaged 20%, and among ... Read More
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Debit Cards in Egypt
... in the market witnessed a substantial 12% growth. The government's ongoing financial inclusion efforts and the proactive outreach programmes initiated by local and international banks have significantly contributed to this growth. Additionally, the Central Bank ... Read More
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Debit Cards in Morocco
... safety and reliability of paying with existing money rather than borrowed funds with high interest rates. Further, debit cards are the most accessible and straightforward type of financial cards in the country, and local banks ... Read More
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Financial Cards and Payments in Morocco
... countries worldwide to achieve this. According to the latest World Bank Global Findex, 44% of adults in Morocco now have access to the formal financial sector - up from just 29% in 2017. The National ... Read More
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Consumer Lending in Egypt
... to an increase in both local and foreign currency liquidity, shifts in consumer behaviour, and a greater reliance on bank loans and credit to maintain current lifestyles, despite ongoing inflation rates and currency devaluation. Euromonitor ... Read More
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Store Cards in Morocco
... cards offer or, alternatively, they understand the advantages but do not believe that these are attractive enough to justify obtaining one. Instead of using store cards, they are increasingly using their regular debit cards, charge ... Read More
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Pre-Paid Cards in Morocco
... the pandemic. The increased use of debit cards was the main driver of this fall. In the past, much of the use of pre-paid cards among the Moroccan population has been accounted for by international ... Read More
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Credit Cards in South Africa
... as inflationary pressures, which have affected disposable incomes, credit cards are becoming a viable cushion used by consumers to navigate the South African economic crisis. From a supplier perspective, mounting impairment across the lending industry, ... Read More
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Store Cards in South Africa
... rising cost of living, which continues to affect household disposable income. Demand for store cards has also benefited from improvements in integrated online payment frameworks, facilitating access to goods and services. A prominent example is ... Read More
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Charge Cards in South Africa
... pandemic, the complete lifting of the state of emergency has since revived growth in charge cards. Demand has been more noticeable across higher-income consumer groups, whose activities and movements were restricted by extended travel bans ... Read More
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Financial Cards and Payments in South Africa
... between issuers. Meanwhile, value transactions across categories such as debit cards are expected to be driven mainly by persisting inflationary pressure, which translates into higher costs of living and, subsequently, higher prices for essential products ... Read More
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