Our last market report of 2017 gives an overview of the mobile payments landscape in Africa, looking at the digital ecosystems of Nigeria, South Africa, Kenya, Uganda, Ghana, Mozambique, Cote d’Ivoire and Senegal.
These countries have a combined mobile audience of 392 million people, bigger than the United States or any country in Europe. The average age of the population is very young compared to other regions of the world and tech-savvy youngsters going online more often than not have a mobile-only approach to consuming digital content.
Due to the lack of traditional banking infrastructure, several countries in Africa were the first to make the move to financial services on mobile devices. The world’s most popular mobile money solution M-Pesa turned 10 this year and is widely adopted in the countries where it is available. Digital merchants who adopt to local market specifics will find they gain an edge over their competitors in the region, as illustrated by Taxify partnering with the wallet for payments earlier this year.
For digital content merchants, Africa is a region with high potential that comes with its own set of challenges - low income, lacking access to mobile data and traditional bank-based payments. This market report aims to shed some light on the digital ecosystems of the countries, in order to help digital merchants localize their services and approach to payments to become successful in the region.
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