Africa ↪leading the world in mobile money adoption  

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Kenya

  • With a gross domestic product of US$89.3 billion, the country recently adopted a digital economy blueprint to develop the ICT sector and e‑commerce activity.

  • 24% of the population in Kenya shops online, and 90% buy via smartphone.
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Nigeria

  • Nigeria has one of the highest African mobile user penetration rates, around 37%, and the projection shows it will keep increasing steadily.

  • 26% of Nigeria's population has already made an online transaction, and 88% use mobile devices to purchase.
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South Africa

  • The second‑largest Sub‑Saharan African economy, with US$329,5 GPD, South Africa is an upper‑middle‑income country that is the most industrialized and technologically advanced on the African continent.

  • 41% of South Africans buy online, and 82% via smartphone.

Global techs operating 
with EBANX

  • Aliexpres
  • Shopee
  • Uber
  • playstation

africa has emerged as a window of opportunities

The continent is about to experience the next lavish surge of innovation. Due to the lack of formal financial services, the fintech sector has boomed in Africa in recent years. Compensating for the low credit card ownership in the region, several startups launched new digital payment solutions, such as mobile money, which are more accessible than formal financial services.


Mobile money allows African customers to receive, deposit, and send money using a virtual wallet on a mobile phone.

05 things you should know about the continent

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Sub‑saharan Africa is home to more mobile money users than any other region worldwide.

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Africa has the highest growth rate in the number of gamers: 8.2% YoY.

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Nigeria is the world's leading country per capita for bitcoin and cryptocurrency adoption.

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South Africa, Kenya, and Nigeria were the most favorable African countries for startups in 2021.

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The primary e‑commerce platforms in Africa are local marketplaces.

South Africa

South Africa

The dominant player in digital commerce

The fast-growing, top African e-commerce player is experiencing a substantial digital behavior maturation; meanwhile, digital payments are becoming increasingly common in the country.

Why consider South Africa

Country overview

Country overview

Capital

Pretoria (Adm), Cape Town (Leg), and Bloemfontein (Jud)

Population

58.5M

GDP

US$329,5 billion

Official Currency

Rand (ZAR)

Market Info

Market Info

The top e-commerce product category

Retail: 58%

 

Tourism: 26%

 

Digital & Gaming: 16%

 
Buyers Profile

Buyers Profile

Bank account penetration

82%

Users with debit card

34%

Users with credit card

9%

Alternative Payment Methods

57% of e-commerce transactions

Payment Preferences

Payment Preferences

 
 
 
 
 
 

Cards: 43%   

 

Cash: 9%   

 

Bank Transfer: 18%   

 

E-wallet: 20%   

 

Others: 10%   

Featured payment method: Instant EFT (OZOW)

Kenya
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Kenya

Where cross-border sales drive growth

The country has been showing exponential development in digital commerce and has successfully established itself as a diverse and dynamic economy.

Why consider Kenya

Country overview

Country overview

Capital

Nairobi

Population

52.5M

GDP

US$89.3 billion

Official Currency

Kenyan Shilling (KSH)

Market Info

Market Info

The top e-commerce product category

Retail: 74%

 

Tourism: 19%

 

Digital & Gaming: 7%

 
Buyers Profile

Buyers Profile

Bank account penetration

88%

Users with debit card

38%

Users with credit card

6%

Alternative Payment Methods

75% of e-commerce transactions

Payment Preferences

Payment Preferences

 
 
 
 

Cards: 25%   

 

Cash: 40%   

 

Others: 35%   

Featured payment method: Mobile banking service (MPESA)

Nigeria
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Nigeria

Africa's wealthiest economy

The country with one of the biggest internet economies in Africa, Nigeria has one of the best network coverages and good infrastructure for mobile connectivity in the whole continent.

Why consider Nigeria

Country overview

Country overview

Capital

Abuja

Population

200.9M

GDP

US$374,7 billion

Official Currency

Nigerian Naira (NGN)

Market Info

Market Info

The top e-commerce product category

Retail: 91%

 

Digital & Gaming: 9%

 
Buyers Profile

Buyers Profile

Bank account penetration

51%

Users with debit card

36.1%

Users with credit card

2.6%

It's expected to have

122.5M users on e-commerce by 2025.

Payment Preferences

Payment Preferences

 
 
 
 
 
 

Cards: 35%   

 

Cash: 23%   

 

Bank Transfer: 21%   

 

E-wallet: 7%   

 

Others: 14%   

Featured payment method: USSD and Bank Transfer

pay‑in africa:
charge in local currency,
receive in usd

International funds settlement

Sell to South Africans, Nigerians, and Kenyans in their local currency with local and alternative payment methods, and receive your funds in USD anywhere in the world. All that without needing to set up local legal entities in the countries.

 

unleash africa's potential

Africa is power. Expanding to Kenya, Nigeria, and South Africa, where digital commerce is constantly growing and developing, means unlocking a customer base formed by millions of buyers willing to pay for products and services from global players.


It's time for Africa. Your pivotal moment towards growth starts now.